Business Statistics

COURSE OBJECTIVE
ACADEMIC AND RESEARCH SKILLS – STUDENTS CAN CONDUCT A BASIC INTERNATIONAL RESEARCH PROJECT FROM START TO FINISH Academic Skills (three As)
After successfully completing this course, the student:
• can perform key statistical operations. Research Skills After successfully completing this course, the student:
• can solve real-world problems by using mathematical techniques

BRIDGING THEORY AND PRACTICE
KNOWLEDGE: Demonstrates theoretical and empirical knowledge concerning the relevant areas in international business administration
After successfully completing this course, the student:
• can select and apply the right statistical technique, specifically:
• properly use statistical notation (both passively and actively);
• calculate elementary probabilities;
• model events with the Bernoulli distribution, the binomial, uniform and normal distribution;
• calculate and interpret descriptive statistics (mean, median, variance, correlation coefficient, skewness, proportion, etc.);
• use the concepts population, sample and sample variation;
• calculate confidence intervals (for the mean, proportion and variance);
• distinguish statistical and practical significance;
• perform one sample tests (for mean, median, proportion and variance);
• perform two sample test (for mean, median, proportion and variance);
• create contingency tables and perform a chi-square test;
• perform multiple regression (including tests, confidence intervals and dummy’s);
• perform one way ANOVA (including post-hoc-analysis);
• choose the right test for a given problem;
• visualize data and relationships;
• use the program SPSS for the above topics.

APPLICATION: Can propose a solution to an international real-life business problem by applying relevant theories and methodologies.
After successfully completing this course, the student, is able:
• can read and write texts in which statistics occurs;
• can use standard software for solving statistical problems.

COURSE CONTENT
International business administration is a subject in which data is of prime interest. You can have great ideas on the impact of advertisement on sales, or of bonus wages on employer’s performance, but the ultimate test is not the theory, but always the empirical data. These data, however, are often not fully conclusive. Sales go up on some days, but they go down on other days. Other factors make that what we see is noisy. Statistics helps you to make sense out of data. Further, today’s analyses require basic skills in setting up and handling spreadsheets and visualizing data. This course therefore also addresses such general skills.

TEACHING METHODS
 Lectures and Tutorials

TYPE OF ASSESSMENT
Interim exams (computer tests) – Individual assessment
Final, written exam – Individual assessment
Mandatory attendance tutorials

RECOMMENDED BACKGROUND KNOWLEDGE
1.1 Business Mathematics
1.3 Academic Skills