ECON 2331: Economic and Business Statistics 2

After completing this course, students should be able to:

• Demonstrate how to test hypotheses, including nonparametric methods.
• Test for the equality of three or more population proportions.
• Conduct analysis of variance under various experimental designs
• Estimate simple and multiple regression models and interpret the results.
• Use time series analysis and forecasting models to make accurate forecasts.
• Apply statistical techniques to various fields such as marketing, supply chain management, finance, accounting, and economics using real-world data.
• Demonstrate the ability to use Excel® and XLSTAT® in estimating applied statistical procedures, methods, and models.

Module 1: Review of Hypothesis Testing and Statistical Inferences

• Developing null and alternative hypotheses
• One and two population(s) mean(s): known and unknown
• One and two population(s) proportion(s)
• Selected nonparametric tests of hypothesis

Module 2: Inference about Population Variances

• Inferences about a population variance
• Inferences about two population variances

Module 3: Comparing Multiple Proportions for Three or More Populations and Test of Independence

• Multiple comparison procedures
• Test of independence
• Tests of goodness of fit

Module 4: Analysis of Variance and Experimental Designs

• Concept of ANOVA
• Comparison of several population means
• Completely randomized design
• Randomized block design
• Factorial experiment

Module 5: Simple and Multiple Regression

• Simple linear and multiple regression models and regression equations
• Least square method
• Simple and multiple regression model assumptions
• Coefficient of determination
• Testing for significance
• Confidence and prediction intervals
• Categorical independent variables and interpreting the parameters
• Interaction
• Determining when to add or delete variable

Module 6: Time Series Analysis and Forecasting

• Time series patterns
• Forecast accuracy
• Moving average and exponential smoothing
• Trend projection
• Seasonality and trend
• Time series decomposition

Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. Statistics for business and economics (with XLSTAT Education Edition Printed Access Card). (13th ed.). Mason, OH: South-Western (Cengage Learning), 2014.
Type: ISBN-13: 9781305585317

Or 13th “Revised” edition ISBN: 978-1-337-09416-0

XLSTAT® is required and will be provided with the bundle of the textbook.

In order to successfully complete this course, students must obtain at least 50% on the final mandatory examination and 50% overall.

* Mandatory

An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.