Module Code - Title:

MA4114 - APPLIED BUSINESS STATISTICS

Year Last Offered:

2024/5

Hours Per Week:

Lecture

3

Lab

0

Tutorial

1

Other

0

Private

6

Credits

6

Grading Type:

N

Prerequisite Modules:

Rationale and Purpose of the Module:

This module contains the second half of MA4102 and the first half of MA4104. This course is designed to give students the statistical background required to apply statistical techniques to data both of general interest and of interest specific to business activity. This involves 1) presenting data using descriptive measures and graphical means, 2) presenting hypotheses that can be tested statistically, together with an appropriate interpretation of the test results 3) providing an introduction to correlation, linear regression and time series analysis

Syllabus:

1. Sampling methods and descriptive statistics - collection and tabulation of data. Summary measures and graphical presentation of data. 2. Basic concepts of probability - probabilities of the union and intersection of events, conditional probability and contingency tables. 3. Normal probability distribution and applications to control charts 4. Applications of the central limit theorem - interval estimation. 5. Hypothesis testing - one and two sample hypothesis tests and non-parametric tests for skewed quantitative data. 6. Chi-squared test for independence. 7. The Pearson and Spearman correlation coefficients and simple linear regression. 8. Introduction to Time Series Analysis - trends and seasonal variation, use of moving averages.

Learning Outcomes:

Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)

1. Differentiate between sampling and non-sampling errors, bias and precision and discuss their relation to the process of data collection - written examination. 2. Present data using descriptive measures and graphical means (e.g. histograms, bar charts) - written examination. 3. Use the basic concepts of probability to calculate the probabilities of events, and analyse contingency tables - written examination. 4. Calculate confidence intervals for the parameters of a distribution (the population mean and proportion) - written examination. 6. Carry out tests regarding the parameters of distributions and association of categorical variables - written examination. 7. Interpret correlation coefficients and the results obtained from linear regression models, as well as understanding the limitations of these methods 8. Analyse trends and seasonal variation in time series data. Use moving averages to smooth time series - written examination.

Affective (Attitudes and Values)

1. Display the ability to discuss the merits of different methods of data collection and appraise the manner in which data is presented - Written examination

Psychomotor (Physical Skills)

N/A

How the Module will be Taught and what will be the Learning Experiences of the Students:

Normal lecture and tutorial mode of delivery. Relevant examples reflecting current applications of statistics in business should be used throughout the course. Continuous assessment using online quizzes or a mid-term exam should be used, with an end-of-term written examination. Graduate attributes: After successful completion of this module students should have the skills to be able to collect, summarise and present quantitative data. They should have the knowledge and confidence to tackle business and decision making problems that require statistical analysis. They also should be able to present and articulate recommendations arising from the statistical analysis of data.

Research Findings Incorporated in to the Syllabus (If Relevant):

Prime Texts:

Berenson, M.L., Levine, D.M. and Krehbiel, T.C. (2009) Basic Business Statistics: Concepts and Applications (11th ed) , Prentice Hall

Sweeney, D.J., AndersonD.R. and Williams T.A. (2011) Fundamentals of business statistics (6th ed) , Thomson South-Western

Other Relevant Texts:

Stuart M. (2003) An introduction to statistical analysis for business and industry:a problem solving approach , Wiley-Blackwell

Neter J. (2005) Fundamental statistics for business and economics (4th Ed) , Allyn & Bacon Inc

McClave J. T. and Benson P.G. (2000) First course in business statistics , Pearson

Programme(s) in which this Module is Offered:

BAECSOUFA - Economics and Sociology

BBBUSTUFA - BUSINESS STUDIES

BBBSFRUFA - FRENCH

BBBSGEUFA - GERMAN

BBBSJAUFA - JAPANESE

Semester(s) Module is Offered:

Spring

Module Leader:

Norma.Bargary@ul.ie