Course Outline Business Stats II

MAT 2101: BUSINESS STATISTICS II
PREREQUISITES: BUSINESS STATISTICS I (MAT 1203)

DETAILED COURSE OUTLINE
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Lecturer’s Name:
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COURSE DESCRIPTION:
This course builds up on introduction to Business Statistics I by introducing probability
distributions, statistical inference, linear and non-linear regression.
EXPECTED LEARNING OUTCOMES

At the end of the course, students should be able to:
1. Compute probabilities using binomial, Poisson and normal distributions
2. Compute point and interval estimate for the means and proportions
3. State the central limit theorem
4. Test of various hypothesis of the means and proportions
5. Calculate correlation and regression coefficients
6. Interpret the results of a multiple linear regression
7. Explain the various components, and smoothening of a time series
COURSE CONTENT
Week Topic/Sub-topic
Week 1 Introduction to Probability Distributions
Definition of a probability distribution
Meaning of discrete and continuous probability distributions
Binomial Distribution
 Definition and examples of binomial experiment
 Characteristics of the binomial probability distribution
 The general binomial experiment
 Application of binomial experiment to solve business problems
 Mean and standard deviation of the binomial distribution
Poisson Distribution
 Introduction
 The exponential function
 Formula for the Poisson distribution
 Application of the Poisson distribution to solve business
problems
 Poisson approximation to a binomial distribution
Week 2 Normal Distribution
 Introduction and definition of the normal/Gaussian distribution
 The normal density curve and its properties
 Standard normal distribution
 Use of the standard normal tables
 General normal probabilities using the standardized values
 Using the normal probability distribution to solve business
problems
Week 3 Estimation and Sampling Distributions
Sampling distribution of the mean
 Definition of the sampling distribution of the mean
 Properties of the sampling distribution of the mean
The central Limit Theorem (CLT)
 Definition of CLT
 Application of the CLT
Confidence intervals(CI)
 CI for one mean
 CI for one proportion
 CI for difference of means
 CI for difference of proportions
Week 5 Inferential statistics
Hypothesis Tests
- Definition of statistical hypothesis, Null and Alternative
hypothesis, Type I and Type II errors
- Hypothesis Test about one mean
- Hypothesis test about one proportion
- Hypothesis test for difference of means
- Hypothesis test for difference of proportion
Small sample tests
- Student t-distribution
- Hypothesis test for one mean and difference of means
Week 6 COMPREHENSIVE CAT
Week 7 Chi-square tests
Introduce chi-square test as an example of non-parametric test of
hypothesis
Chi-square test of independence

 Formulation of hypothesis
 Constructing contingency tables
 Calculating Chi-square statistic of the sample
 Determining the degrees of freedom
 Criteria for rejection (or otherwise) of the null hypothesis
Chi-square test of goodness of fit
 Formulation of hypothesis
 Calculating the expected frequencies
 Calculating chi-square statistic of the sample
 Determining the degrees of freedom
 Criteria for rejection (or otherwise) of the null hypothesis
Week 8 Statistical Quality Control (SQC)
Meaning of statistical quality control
Causes of variation
Differentiate between chance and Assignable variation
Advantages of SQC
Types of Controls
Control charts for variables
 Definition
 Control charts for mean ( X  bar charts)
 Control charts for range ( R  charts )
Week 9 Control charts for Attributes
 Definition
 Control chart for fraction of defectives ( p  chart )
 Control chart for number of defectives ( np  chart )
 Control chart for number of defects per unit ( c  chart )
Week 10 Correlation Analysis
Introduction and definition
Use of scatter diagram to study correlation
The co-variation between two variables
Karl-Pearson’s correlation coefficient
 Derive and apply the formula to calculate the correlation
coefficient for ungrouped bivariate data
 Interpretation of Karl Pearson’s correlation coefficient
 Properties of the Karl Pearson’s correlation coefficient
Spearman’s correlation coefficient
 Use the formula to obtain the rank correlation coefficient
 Interpretation of rank correlation coefficient
Week 11 Regression Analysis

Meaning of regression Analysis
Principle of Least Squares (OLS)
 Meaning of OLS
 Assumptions of the OLS method
Simple linear Regression
 Graphical Method (use of scatter diagram) of regression
analysis
 Algebraic (use of regression equation) method of regression
analysis
- Using normal equations
- Regression coefficients
 Interpretation of regression coefficients
Week 12 Multiple linear regression
 Use normal equations to fit multiple linear regression models
with 3 variables
 Interpret regression coefficients of multiple linear regression
models
 Explain the concept of multicollinearity
Week 13 Introduction to Time Series Analysis
The concept of time series
Time series data
Components of a time series model
Fitting trends and trend curves
Exponential smoothing
Week 14 -15 END OF TRIMESTER EXAMS
SUBMISSION OF ASSIGMENTS
Deadlines for submission of assignments should be strictly adhered to and failure to submit all
assignments will be treated as incomplete coursework. The consequence is a fail grade and one will
be required to repeat the unit when next offered. To avoid this unfortunate occurrence, please submit
your work in time.
Students who expect to miss deadlines for assignments, class exercises or CAT for health reasons
or special family reasons should communicate to the lecturer as soon as possible.
CLASS ATTENDANCE
Students are required to attend all classes and to report to class on time. If for some cogent reason
you are unable to attend class, do inform the lecturer well in advance. Those who report to class
more than 30 minutes late will be locked out of the class. You are required to attend at least 2/3
(67%) of all lessons, failure to meet this threshold will lead your disqualification from this unit and
you will be required to repeat the unit when next offered. It is mandatory that you sign in your
attendance in the class list as prove that you have attended the class.
FINAL EXAMINATION
Please note that it is compulsory to sit for the end of trimester sit-in exam. Failure to do the exam
is treated as abscondment and one is required to repeat the unit when next offered. In the case
where a student, for a cogent reason, is unable to sit for the exam, please inform the lecturer early
in advance and make an official request of a special exam by filling the relevant form, which is
available from the School of Business and Public Management. It is your responsibility to ensure
that you have done all assignments, CATs, and the examination.
EVALUATION
The course will be evaluated as follows:
Assignments 10%
CAT 20%
FINAL EXAM 70%
TOTAL : 100%
PLAGIARISM AND INTEGRITY
1. Any student involved in cheating in tests, coursework or examinations will be suspended

pending investigations, and may be expelled from the University.
2. You are advised to acquaint yourself with the University examination regulations.
3. Plagiarism means presenting other people’s work as your own. Plagiarism is a serious
offence and will not be tolerated, and offenders will fail that course. You should not copy
and paste other people’s work without due and appropriate acknowledgement, which is
done through citations and references. All reports and assignments submitted will be
checked for similarity using the URKUND. The University has zero-tolerance for
plagiarism and such a violation will lead to stiff penalties including but not limited to,
cancellation of your results, as well as suspension from the University.
REFERENCES
1. Francis, A. (2008). Business Mathematics and Statistics, 6th Ed. Cengage Learning EMEA,
London, UK
2. Swift, L. (2010). Quantitative Methods for Business Management and Finance,3rd Ed.
Palgrave Macmillan, London.
3. Oakshoft, L. (2010). Essential Quantitative Methods for Business, Management and
Finance, 5th ed., McGraw Hill, Boston.
4. Croucher, J. S. (2013). Introductory mathematics and statistics. (6th ed.) North Ryde,
N.S.W.: McGraw Hill Australia.
5. Webstar, A.l. (1998). Applied Statistics for Business and Economics: An Essential Version,
3rd.ed., Irvin/McGraw-Hill, Boston, MA
6. Berenson, M., Levine, D., Szabat, K. A., & Krehbiel, T. C. (2012). Basic business
statistics: Concepts and applications. Pearson higher education, AU.
7. McClave, J. T., Benson, P. G., & Sincich, T. (2011). Statistics for business and economics-
Student solutions manual. Pearson Prentice Hall, Upper Saddle, NJ.
8. Lind, D. A., Marchal, W. G., & Wathen, M. (2012). Business & Economics. USA,
McGraw-Hill/Irwin.

Course Outline Business Stats II

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MAT 2101: BUSINESS STATISTICS II

PREREQUISITES: BUSINESS STATISTICS I (MAT 1203)

EXPECTED LEARNING OUTCOMES

Chi-square test of independence

Week 11 Regression Analysis

1. Any student involved in cheating in tests, coursework or examinations will be suspended

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