AR100219 - Statistics for Business


Examination arrangement

Examination arrangement: Written examination
Grade: Letters

Evaluation form Weighting Duration Examination aids Grade deviation
Written examination 100/100 4 hours C

Course content

- Descriptive statistics: Location measures, variance measures
- Probability calculations and combinatorics: The concept of probability, probability models, conditional probability
- Discrete stochastic variables: Calculation of expectation/variance/covariance, binomial distribution, hypergeometric distribution, poisson distribution
- Continuous stochastic variables: Normal distribution, exponential distribution, approximations to the normal distribution, linear combinations
- Estimation: Point estimation, interval estimation, properties of estimators, valuation of sample size
- Hypothesis testing: Hypothesis testing in measurement models (z-test and t-tests), hypothesis testing using normal approximation, chi-square tests, p-value, test strength.
- Linear correlation and regression: Least squares method, intervall estimation, hypothesis testing, prediction.
- Use of computer tools

Learning outcome

Learning outcome - Knowledge:

The candidate should
- have the necessary methodical foundation in probability calculus and statistics for other subjects in the study programme.
- be able to connect the use of statistical methods to problems related to the economics-administrative area. 

Learning outcome - Skills:

The candidate should
- have a basic understanding of the probability concept, be able to do probability calculations, and calculations using probability distributions.
- be able to estimate, and calculate confidence intervals for, unknown parameters.
- be able to choose and use the appropriate hypothesis test.
- be able to use and interpret linear regression models.

Learning outcome - Competence:

The candidate should
- be able to use statistics to express, analyze, and communicate economic relationships.
- have a statistical understanding that can form the basis for further studies and lifelong learning.

Learning methods and activities

Lectures and mathematical exercises.

Compulsory assignments

  • Mandatory assignments

Further on evaluation

Supporting material allowed on exams: Approved calculator regarding NTNUs support material code B-D "specific basic calculator". Other calculators that are allowed in the course are: Casio FC-100V and Texas Instruments - BAII Plus.

Specific conditions

Exam registration requires that class registration is approved in the same semester. Compulsory activities from previous semester may be approved by the department.

Admission to a programme of study is required:
Business Administration (BØA)
Business Administration (ÅØKADM)
Business Administration (ØA369)
Business Administration (ØABACHELOR)
Digital Business Development (ITBAITBEDR)
Science in Accounting and Auditing (ØABACHBRR)

Course materials

To be announced at the start of the semester

Credit reductions

Course code Reduction From To
TMA4240 7.5 01.09.2019
TMA4245 7.5 01.09.2019
ME120 6.0 01.09.2019
ME120 6.0 01.09.2019
MET8001 7.5 01.09.2019
MET1002 7.5 01.09.2019
More on the course



Version: 1
Credits:  7.5 SP
Study level: Foundation courses, level I


Term no.: 1
Teaching semester:  SPRING 2021

Language of instruction: Norwegian

Location: Ålesund

Subject area(s)
  • Statistics
  • Economics and Administration
Contact information
Course coordinator: Lecturer(s):

Department with academic responsibility
Department of ICT and Natural Sciences



Examination arrangement: Written examination

Term Status code Evaluation form Weighting Examination aids Date Time Digital exam Room *
Spring ORD Written examination 100/100 C
Room Building Number of candidates
  • * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.

For more information regarding registration for examination and examination procedures, see "Innsida - Exams"

More on examinations at NTNU