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.


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


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%