# Statistics and basic economics 2013-2014 - 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

Lectures
Exercises

## Form(s) of Assessment

Written exam, 4 hours

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 bed 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