REA1154F - Statistics for Business


Examination arrangement

Examination arrangement: School exam
Grade: Letter grades

Evaluation Weighting Duration Grade deviation Examination aids
School exam 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

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 exercises. Assignments must be passed to gain entry to the exam. Lectures are streamed from Gjøvik, and will also be available in the learning platform in the future. Guidance takes place both through the use of real-time technology (Collaborate) and through the use of Forums in the learning platform.

Compulsory assignments

  • Exercises

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.

Specific conditions

Admission to a programme of study is required:
Business Administration, part-time (BØKLED-F)

Required previous knowledge


Course materials

To be announced at the start of the semester.

Credit reductions

Course code Reduction From To
MET1002 7.5 AUTUMN 2022
TMA4240 7.5 AUTUMN 2022
TMA4245 7.5 AUTUMN 2022
ME120 6.0 AUTUMN 2022
ME120 6.0 AUTUMN 2022
MET8001 7.5 AUTUMN 2022
REA1131 5.0 AUTUMN 2022
REA1152 7.5 AUTUMN 2022
AR100219 7.5 AUTUMN 2022
More on the course



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


Term no.: 1
Teaching semester:  SPRING 2024

Language of instruction: Norwegian

Location: Gjøvik , Trondheim

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

Department with academic responsibility
Department of Mathematical Sciences


Examination arrangement: School exam

Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
Spring ORD School exam 100/100 C INSPERA
Room Building Number of candidates
Summer UTS School exam 100/100 C INSPERA
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"

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