# REA1154 - Statistics for Business

### Examination arrangement

Examination arrangement: School exam

Evaluation Weighting Duration Grade deviation Examination aids
School exam 100/100 4 hours C , D

### 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

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.

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.

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.

• obligatory

### 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, Casio FC-100V-2, and Texas Instruments - BAII Plus

### Required previous knowledge

Admission to the study programme.

### Course materials

To be announced at the start of the semester.

### Credit reductions

Course code Reduction From To
TMA4240 7.5 AUTUMN 2019
TMA4245 7.5 AUTUMN 2019
ME120 6.0 AUTUMN 2019
ME120 6.0 AUTUMN 2019
MET8001 7.5 AUTUMN 2019
REA1131 5.0 AUTUMN 2019
MET1002 7.5 AUTUMN 2019
REA1152 7.5 AUTUMN 2021
AR100219 7.5 AUTUMN 2021
More on the course

No

Facts

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

Coursework

Term no.: 1
Teaching semester:  SPRING 2025

Language of instruction: Norwegian

Location: Gjøvik

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

Department with academic responsibility
Department of Mathematical Sciences

# Examination

#### Examination arrangement: School exam

Term Status code Evaluation Weighting Examination aids Date Time Examination system
Spring ORD School exam 100/100 C , D
Summer UTS School exam 100/100 C , D
• * 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.
Examination

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

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