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Statistics for Business and Economics
Last Updated: 2026-02-05 15:14:42
Abstract
This course is an introduction to statistical methods and concepts applied to business and economics data. The topics include probability distributions, confidence intervals, hypothesis testing, analysis of variance and multiple regression. The course is organized in weekly 2-hour lectures (total of 28 hours) with a final comprehensive exam. Homework assignments will be given every other week.
Objective
The students will learn the basics of using statistical methods in applications related to business and economics. These include the following skills: a basic understanding of the theory of probability and statistics and how it is applied to test different kinds of hypotheses as well as the basic skills required for preparing and analyzing the data. Most of these abilities especially those related with computer software are developed through students’ individual practice with the assignments. After this course students should be able to use econometric methods in empirical projects. In particular, the students will be introduced to statistical models used to describe the relationship among multiple variables. The students will be exposed to relevant examples in economics and business applications. The main objective of these examples is to motivate the use of statistical analysis and at the same time encourage students to go beyond the mechanical application of techniques and to develop critical judgment.
Content
1. Introduction: Data and Statistics. 2. Descriptive Statistics. 3. Probability Distributions: Discrete and Continuous Distributions. 4. Sampling and Sampling Distributions. 5. Interval Estimation. 6. Hypothesis Testing. 7. Statistical Inference about Means and Proportions with Two Populations. 8. Analysis of Variance and Experimental Design. 9. Simple Linear Regression. 10. Multiple Regression.
Resources
Lecture Notes
The required textbook:Essentials of Statistics for Business and Economics, 4th Edition, 2005David R. Anderson, Dennis J. Sweeney, Thomas A. WilliamsISBN: 0-324-22320-X, 682pp, Publisher: South-Western.Its International Student Edition is also available as:Fundamentals of Business Statistics, 2006Sweeney / Williams / AndersonISBN: 0-324-30591-5, 643 pp, Publisher: South-Western.Another version of the textbook with additional chapters on related topics:Statistics For Business and Economics, 9th Edition, 2005by Anderson, Sweeney, and WilliamsISBN: 0-324-20082-X, Publisher: South-Western.Additional textbook for understanding the underlying concepts:Mathematical Statistics for Economics and Businessby Ron Mittelhammer, 1996ISBN: 0-387-94587-3, Publisher: Springer-Verlag
General Information
- Language
- English
- Levels
- MSC
- Frequency
- Yearly recurring
Examination
- Type
- end-of-semester examination
Course Components
| Type | Title | Time & Place | Hours |
|---|---|---|---|
| lecture with exercise | Statistics for Business and Economics |
|
2 h weekly |
Offered In
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Management, Technology and Economics Master ("Students meet Tutors" Welcome and Introduction to MSc MTEC ETH Monday, 24th september 07, 9-12h, room: HG G 60)
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