FACULTY OF BUSINESS

Department of Economics

MATH 280 | Course Introduction and Application Information

Course Name
Introduction to Probability and Statistics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
MATH 280
Fall
2
2
3
6

Prerequisites
  MATH 102 To get a grade of at least FD
Course Language
English
Course Type
Required
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course Lecture / Presentation
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives To provide the fundamental concepts of Probability and Statistics with applications of business and economic problems. Fundamental statistical methods and applications are presented especially for students who want to specialize in areas where data analysis and results need to be interpreted.
Learning Outcomes The students who succeeded in this course;
  • create graphs for categorical and numerical data.
  • investigate measures of central tendency and variation.
  • solve various probability problems by applying fundamentals of probability.
  • use special discrete probability distributions or continuous probability distributions in different environments.
  • calculate the confidence interval for the average of one and two main masses with normal distribution in cases where the main mass variant is known and unknown.
  • use confidence intervals.
  • apply hypothesis test for one and two populations that are normally distributed.
Course Description This course investigate probability, discrete and continuous probability distributions. Also, provides constructing the sampling distributions, confidence interval estimation and Hypothesis tests of one and two populations.

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Describing data: graphical Newbold P., Carlson W.L., Thorne B., “Describing data: graphical”, chap 1 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 25-62.
2 Describing data: numerical Newbold P., Carlson W.L., Thorne B., “Describing data: numerical”, chap 2 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 63-96.
3 Probability Newbold P., Carlson W.L., Thorne B., “Probability”, chap 3 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 97-149.
4 Probability Newbold P., Carlson W.L., Thorne B., “Probability”, chap 3 in Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 97-149.
5 Probability Newbold P., Carlson W.L., Thorne B., “Probability”, chap 3 in Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 97-149.
6 Discrete Random Variable, Bernoulli and Binomial Probability Distributions, Jointly Distributed Discrete Random Variables Newbold P., Carlson W.L., Thorne B., “Discrete random variables and Probability Distributions”, chap 4 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 150-200.
7 Continuous Random Variable, Normal Distribution, Jointly Distributed Continuous Random Variables Newbold P., Carlson W.L., Thorne B., “Continuous random variables and Probability Distributions”, chap 5 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 201-247.
8 Sampling, Sampling Distribution of Sample Mean and Sampling Distribution of Sample Proportion Newbold P., Carlson W.L., Thorne B., “Sampling and sampling distributions”, chap 6 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 248-287.
9 Midterm
10 Estimation: Confidence Interval for Single Population Mean, Confidence Interval for Single Population Proportion and Determining Sample Size Newbold P., Carlson W.L., Thorne B., “Estimation: single population”, chap 7 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 288-331.
11 Estimation: Confidence Interval for Two Population Means, Confidence Interval for Two Population Proportions Newbold P., Carlson W.L., Thorne B., “Estimation: additional topics”, chap 8 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 332-349.
12 Hypothesis Testing: Single Population Mean and Single Population Proportion Newbold P., Carlson W.L., Thorne B., “Hypothesis testing: single polulation”, chap 9 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 350-388.
13 Hypothesis Testing: Two Population Means and Two Population Proportions Newbold P., Carlson W.L., Thorne B., “Hypothesis testing: additional topics”, chap 10 Statistics for Business and Economics, 10th edition (United States of America: Pearson, 2022), 389-420.
14 Semester Review
15 Semester Review
16 Final exam

 

Course Notes/Textbooks

Newbold P., Carlson W.L., Thorne B., Statistics for Business and Economics, 10th edition (Pearson, 2022), 

ISBN-13:978-1292436845

 
 
Suggested Readings/Materials

Lind D., Marchal S., Statistical Techniques in Business & Economics, 17th edition (McGraw-Hill, 2017),

ISBN-13: 978-1259666360

 
 

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
2
20
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
30
Final Exam
1
50
Total

Weighting of Semester Activities on the Final Grade
3
50
Weighting of End-of-Semester Activities on the Final Grade
1
50
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
2
32
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
2
32
Study Hours Out of Class
14
2
28
Field Work
0
Quizzes / Studio Critiques
2
10
20
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
28
28
Final Exam
1
40
40
    Total
180

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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