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ECN236 Course Outline

The ECN236 course, taught by Professors Nwaogwugwu, Adebisi, and Adegboye, covers fundamental statistical methods and their applications in Economics and Business. Key topics include descriptive statistics, probability theory, inferential statistics, and multivariate methods, with a focus on practical applications. By the end of the course, students will be able to apply statistical methods to real-world datasets, conduct hypothesis testing, and build statistical models.

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8 views

ECN236 Course Outline

The ECN236 course, taught by Professors Nwaogwugwu, Adebisi, and Adegboye, covers fundamental statistical methods and their applications in Economics and Business. Key topics include descriptive statistics, probability theory, inferential statistics, and multivariate methods, with a focus on practical applications. By the end of the course, students will be able to apply statistical methods to real-world datasets, conduct hypothesis testing, and build statistical models.

Uploaded by

acedex2000
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Course Code: ECN236

(Statistical Methods and Applications)

Course Lecturers
Prof. Isaac Nwaogwugwu
Dr. A. Adebisi
Dr. A.C. Adegboye

Course Description
This course introduces the fundamental statistical methods and their basic application in the
field of Economics and Business. The course covers descriptive statistics, probability theory,
inferential statistics, and multivariate methods with focus on practical application of statistics in
real-life situations.

Learning Outcomes
By the end of this course, students will be able to:
1. Apply descriptive and inferential statistical methods to real-world datasets.
2. Understand and utilize probability distributions in problem-solving.
3. Conduct hypothesis testing and interpret results.
4. Build and evaluate statistical models using regression analysis.

Course Outline
1. Introduction to Statistics
 Definition and scope of statistics
 Types of data (quantitative vs. qualitative, discrete vs. continuous)
 Levels and scales of measurement (nominal, ordinal, interval, ratio)
 Data collection methods and sampling techniques
2. Descriptive Statistics
 Summary of qualitative (categorical) data
 Summary of quantitative data
 Measures of central tendency and location
 Measures of variability and dispersion
 Measures of Relationships Between Variables
3. Probability Theory
 Basic probability concepts - random experiment, outcomes, and events
 Rules of probability
 Conditional probability and Bayes' theorem

1
 Random variables
 Probability distributions (binomial, Poisson, normal, etc.)
4. Inferential Statistics I: Estimation
 Issues in sampling
 Sampling distributions and the Central Limit Theorem
 Sample proportions and variances
 Point and interval estimation
 Confidence intervals for means and proportions
6. Inferential Statistics II: Hypothesis Testing
 Null and alternative hypotheses
 Types of errors (Type I and II)
 p-values and significance levels
 Tests for population means, proportions, and variances
 Chi-square tests for independence and goodness of fit
7. Analysis of Variance
 One-way ANOVA: assumptions and interpretation
 Post-hoc tests (e.g., Tukey’s HSD)
 Two-way ANOVA with interaction effects
8. Nonparametric Statistical Methods
 Introduction to nonparametric tests
 Contingency tables and the Chi-Square test

Recommended Textbooks:
1. Freedman, D., Pisani, R., & Purves, R. (2007). Statistics. W. W. Norton & Company.
2. Newbold, P., Carlson, W. L., & Thorne, B. (2019). Statistics for Business and Economics.
New York: Pearson.
3. Montgomery, D. C., & Runger, G. C. (2018). Applied Statistics and Probability for
Engineers. Wiley.
4. Anderson, D.R. et al (2017). Statistics for Business and Economics, Thirteenth Edition.
New York: Pearson.

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