Introduction to Statistics
This module aims to provide knowledge of how to summarise and analyse data, to provide an insight into the concepts of probability and stochastic independence, understanding of statistical methodologies for testing hypotheses, and to provide skills in using statistical software.
Please note that this module cannot be taken with Statistics for Business and Management (BEE1025) or Introduction to Statistics for Accountants (BEA1012) or Statistics for Business (BEM1024).
This module requires students to have at least a Grade B in A-Level Mathematics (or equivalent). This module is not available to maths students.
The content of this module is universal and applicable around the world. It includes international examples with real statistical data from countries such as China, India, Europe and the UK.
Knowledge of statistics is essential for any business or economics student, so this module provides students with a valuable theoretical and practical understanding of the subject, as well as weekly assignments that enable them to work consistently with continuity and discipline.
All of the lecture notes and tutorial sets are available on the ELE (Exeter Learning Environment).
Full module specification
|Module title:||Introduction to Statistics|
Grade B or higher in A-Level Mathematics (or equivalent).
Cannot be taken with BEE1025, BEM1024 or BEA1012.
This module is not available to Maths students.
|Duration of module:||
Duration (weeks) - term 1: |
The module aims to provide students with an understanding of the role of statistical methodologies in economics through both the study of the theory of probability and statistics, and hands-on practice using Excel with a variety of data types.
ILO: Module-specific skills
- 1. construct charts and calculate appropriate descriptive statistics to summarise a data set;
- 2. understand discrete and continuous random variable, their distributions and moments;
- 3. solve a range of problems involving probability;
- 4. understand covariance, correlation, conditional probabilities and conditional expectations;
- 5. conduct hypothesis tests and interpret their results;
- 6. demonstrate the ability to utilise a software package (Excel and Stata) for a range of statistical applications.
ILO: Discipline-specific skills
- 7. demonstrate awareness of the role of numerical evidence in economics;
- 8. demonstrate understanding of the advantages, disadvantages, and limitations of different quantitative methods.
ILO: Personal and key skills
- 9. demonstrate quantitative, computational and computer literacy skills.
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning and Teaching Activity||22||Lectures|
|Scheduled Learning and Teaching Activity||10||Tutorials|
|Guided independent study||118||Reading, question practice, class and assessment preparation|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Weekly tutorial exercises||50 minutes||1-9||In class|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Five online homework quizzes||20||ca. 30 minutes each||1-9||ELE|
|Excel Test (online)||10||2 hours||1,2,6,9||ELE|
|Final Examination||70||2 hours||1-5, 7-9||Final grade; Feedback will be posted on ELE|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Homework quizzes: 5 each at 4% (20%)||Any quizzes deferred will be set-aside*; any quizzes failed will also be set-aside* if the module is failed overall**||August/September Reassessment Period|
|Excel test (10%)||Excel test (online) (2 hours, 10%)||1,2,6,9||Referral/Deferral Period|
|Final Examination (70%)||Examination (2 hours, 70%)||1-5, 7-9||August/September Reassessment Period|
Deferrals will take place as soon as possible within the same term; Referrals** and any further deferrals will take place in the August/September Reassessment Period
*’Set-aside’ means that assessment is excluded from the overall module mark, and an overall mark is calculated from the remaining assessments with those remaining assessments re-weighted in proportion to produce a mark of up to 100%.
So for this module, if one of the quizzes (4% of the module) were to be ‘set-aside’ the marks for the remaining components would be added together and the maximum effective mark would be 96%. This would then be re-weighted to produce a mark up to 100%.
The Excel Test requires access to Excel and ELE.
**If you pass the module overall you will not be referred in any component – even if you have not passed one or more individual components.
- An Introduction to Statistics
- Descriptive Statistics: Tabular and Graphical Methods
- Descriptive Statistics: Numerical Methods
- Introduction to Probability
- Discrete Probability Distributions
- Continuous Probability Distributions
- Sampling and Sampling Distributions
- Interval Estimation
- Hypothesis Tests
- Statistical Inference about Means and Proportions with two Populations
- Inferences about Population Variances
- Tests of Goodness of Fit and Independence
- Analysis of Variance and Experimental Design
- Main Non-parametric Methods of Inference
Indicative learning resources - Basic reading
Indicative reading list: selected chapters of some or all of the following textbooks
Utts, Jessica M and Heckard, Robert F. (2015), Mind on Statistics, 5th edition, Cengage Learning. ISBN: 978-1-285-46318-6
Barrow, M. (2017) Statistics for Economics, Accounting & Business Studies, 7th edition, Harlow: Pearson Education.
Cortinhas, C. and Black, K. (2012), Statistics for Business and Economic, 1st European Edition, Chichester: John Wiley and Sons, Ltd. ISBN: 978-1-119-99366-7.
Peck, R., Short, T. and Olsen, C. (2020), Introduction to Statistics and Data Analysis, 6th edition, Cengage Learning. ISBN: 978-1-337-79361-2
Anderson, D., Sweeney, D., Williams, T., Camm, J., Cochran, J., Fry, M. and Ohlmann, (2020) ‘Essentials of Statistics for Business and Economics’, Cengage Learning, ISBN: 978-0-357-04543-5.
Module has an active ELE page?
Last revision date