Statistics for Economics and Management
Code
1305
Academic unit
null
Department
null
Credits
7,5
Teacher in charge
Ana Amaro e Isabel Reis Dias
Teaching language
Portuguese
Objectives
On a daily basis economists and managers are faced with decision making processes under uncertainty. Through the use of statistical data to measure this uncertainty, statistics provides several tools that allow better decisions. The course on Statistics for Business and Economics focuses mainly on Statistical Inference whose goal is to infer the particular characteristics of a given population using only sample data (observational or experimental).
During the course students are trained to learn to think the statistical way: understanding the need, the benefits and the limitations of available data and the ability to conduct a statistical study in its various stages, from problem formulation, through data collection and statistical analysis, to interpretation of results. It is intended that students recognize that the real world is a complex system of interconnected processes, variability that exists in all processes and that understanding and reducing variability is a critical factor for success. To be able to recognize the omnipresence of variability is part of the essence of Statistics.
The focus of this course is on understanding fundamental concepts, the ability to use basic tools of statistical inference in solving real problems, and interpretation of results. The mathematical and probabilistic reasoning of the statistical results will be used in order to obtain a better understanding of the applicability of statistical inference or when you want to identify the conditions under which statistical inference is not valid.
Prerequisites
Compulsory pre-requisite:
- 1304 Data Analysis and Probability
Subject matter
This course will cover the following topics (in parentheses are given the recommended chapters of the recommended book):
-Continuous Random Variables and Distributions (5);
-Estimation and Confidence Interval (6, 7, 8);
-Hypothesis Tests (9, 10);
-Nonparametric Statistics (14);
-Linear Regression (11, 12, 13).
In Moodle course page a detailed schedule of all the activities and topics covered during the semester will be available.
Bibliography
Teaching method
Evaluation method