Department of Economics, Finance & Management
Fall Semester, 2005
Revised September 29, 2005
Professor William C. Perkins
Telephone: (914)-323-5149; E-mail: perkinsw@mville.edu
Office: Reid Hall 400-A
Office Hours: Tuesday and Thursday 3 to 5:30 pm and Wednesday 11am to
12 noon.
Course Description: Economic statistics involves the collection, description, display, analysis and interpretation of data. Graphical, tabular and numerical methods of data summarization are covered; Chebyshev’s Theorem and the empirical rule are also used.
After an introduction to probability, various discrete and continuous probability functions are applied to a variety of problems. Primary focus is on the normal and t-distributions and their applications. Sampling, the central limit theorem, sampling distributions, interval estimation, hypothesis testing, and the correlation coefficient are also covered.
Required Textbook: Statistics for Business and Economics (9th edition) by D.Anderson, D.Sweeney and R.Williams, (listed as AS&W below), Thompson Publishing, 2005.
Course Requirements: The final grade is based on three exam scores and grades on designated homework assignments. The low exam score will count 20% and the other two exam scores will be worth 30% each; the graded homework will comprise the other 20%. It will be announced in class when homework will be collected for a grade, but to receive maximum credit for a graded assignment, homework must be turned in on time. Late homework will generally be accepted one class period late, but at the cost of a 10 point penalty. Homework submitted later than this will not be accepted. Attendance is important and will be taken regularly.
August 31 Data and
Statistics AS&W chapter 1
(a) descriptive statistics exercises 5, 11,
(b) statistical inference 15 & 17.
(c) statistical applications
(d) data and sources
September 7 Tabular &
Graphical Methods of Data Display
AS&W chapter 2
(a) summarizing qualitative data exercises 5, 17,
(b) summarizing quantitative data 22, 43.
(c) the stem and leaf display
September 14 & 21 Numerical
Methods of Summarizing Data
AS& W chapter 3
(a) measures of location and variability and
(b) measures of relative location exercises 11, 21,
(c) detection of outliers 31, 32,
33, 42,
(d) five number summary and box plot 49.
(e) covariance and the correlation coefficient
September 28 An
Introduction to Probability AS&W chapter 4
(a) statistical experiments (omit
section 4.5)
(b) tree diagrams and counting rules exercises 4, 19,
(c) the sample space and the Venn Diagram 21, 29, 31, 35, 37
(d) methods of assigning probabilities & 51.
(e) events and their probabilities
(f) principles of probability
October 5 Probability
(continued) and review
October 12 FIRST EXAM
October 14 Discrete
Distributions AS&W chapter 5
(a)
discrete random
variables
(omit section 5.6)
(b)
the discrete uniform
distribution exercises
5, 9, 13,
(c)
the binomial
distribution
29, & 31.
(d)
applications of the
Binomial distribution
October 19 Continuous Distributions AS&W chapter 6
(a)
the continuous
uniform distribution (omit
section 6.4)
(b)
the normal
distribution exercises 5, 9, 11,
17, 19, 21, 23, 25.
October 26 Sampling and Sampling Distributions AS&W chapter 7
(a)
simple random
sampling
exercises 5, 17,
(b)
point estimation of
mean, proportion 31, 39, 47
& 53.
(c)
central limit
theorem
(d)
sampling
distribution of mean and proportion
(e)
other sampling
techniques
November 9 SECOND EXAM
November 16 Interval Estimation AS&W chapter 8
(a)
confidence interval
for mean and proportion exercises 7,
18,
(b)
determination of
sample size
21, 27, 37 & 42.
(c)
t-distribution
November 23
THANKSGIVING HOLIDAY
November 30
Hypothesis Testing AS&W chapter 9
(a)
Null & Alternative Hypothesis (omit sections 9.7 & 9.8)
(b)
Type I & Type II Errors exercises 3, 15, 27, 39 & 49.
(d)
One & Two-Tail
Tests of mean and proportion
(e)
P-value approach to
hypothesis testing
(f)
Hypothesis Testing
and decision making
December 7
Other Hypothesis Tests AS&W section 10.3
(a)
matched samples and
appendix 14.2;
(b)
the correlation
coefficient exercises to be announced.
December 9-13
FINAL EXAM WEEK*
*Time of exam to be posted by the Manhattanville College Registrar’s Office.