Statistics and basic economics
Study plans 2016-2017 - SMF2251F - 10 ECTS

On the basis of

REA1141 Matematikk 10

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.
• Sustainability.

Teaching Methods

E-learning

Form(s) of Assessment

Written exam, 4 hours

Grading Scale

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

External/internal examiner

• External examiner is used periodically to evaluate contents, arrangements and the examination system. Next time 2018.

Re-sit examination

• August 2017.

Examination support

• Calculator not to be communicate with others.
• 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

See Norwegian version.

Additional information

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