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  7. SMF2251 Statistics and basic economics

Statistics and basic economics
2012-2013 - SMF2251 - 10 ECTS

On the basis of

REA1141 Matematikk 1

TØL1001 Ingeniørfaglig innføringsemne

Expected learning outcomes

  • Demonstrate a basic knowledge and skills in the economic activity of a company.
  • Be able to carry out costs- and income calculations.
  • Make product- and investment calculations, planning and budgeting.
  • Find profitable solutions to economic problems within a company.
  • Understand the relevance of probability and statistics in economy and engineering problem solving.
  • Maintain a basic toolbox in statistics for use in further courses and work.

Topic(s)

Statistics (50 %):

  • Descriptive statistics
  • Probability: Stochastic models,conditonal probability and independence, combinatorics.
  • Distributions: Expected values, variance and standard deviation. Correlation.
    Normal. Binomial, Poisson and Exponential distribution.
  • Statistical methods: Interval estimation and Testing of hypothesis in Normal. Binomial, Poisson and Exponential distribution in 1 and 2 variables and linear regression.

Economics (50 %):

  • Company costs and income
  • Profit analysis
  • Product selection
  • Investment analysis
  • Planning and budgeting

Teaching Methods

Lectures
Exercises

Form(s) of Assessment

Written exam, 4 hours

Grading Scale

Alphabetical Scale, A(best) – F (fail)

External/internal examiner

  • External examiner spring 2014.
  • External examiner is used periodically to evaluate contents, arrangements and the examination system.

Re-sit examination

  • Ordinary resit
  • Approved exercises are valid for the resit

Examination support

  • Calculator
  • Formelsamling som på norsk
  • Table of interest
  • Laws

Coursework Requirements

  • Exercises in Statistics (70 % must be approved).
  • Exercises in Economics (3 out of 4 must be approved)

Teaching Materials

  • Løvås, Gunnar G.: Statistikk for universiteter og høgskoler, ISBN 82-15-00224-2
  • Hoff, Kjell Gunnar, Bedriftens økonomi, Universitetsforlaget, 7. utgave, ISBN 978-82-15-01320-6
  • Hoff, Kjell Gunnar og Hoff, Jan Erik, Arbeidsbok til Bedriftens økonomi, Universitetsforlaget, 7. utgave, ISBN 978-82-15-01319-0
  • Laws
  • Hornæs, Hans Petter: Formelsamling i Statistikk, HiG

Additional information

  • Credit reduction due to overlapping course REA1081: 50%
  • Credit reduction due to overlapping course SMF1042: 50%