CB2200 Business Statistics

(2023/24 Semester A)

Course Examiner: Office: Phone Number: Email:

Dr. Susanna TAM LAU‐7246 3442 7483 [email protected]

Course Lecturer: Office: Phone Number: Email:

Prof. Sammy YUEN LAU‐7272 3442 8579 [email protected]

Tutors: Email:
Miss Charlotte CHOW [email protected]
Mr. Evan DAI [email protected]

Course Intended Learning Outcomes

 Explain concepts in numerical descriptive measures, sampling distributions, confidence interval
estimation, hypothesis testing, and simple linear regression model.
 Select appropriate statistical methods to analyse real‐life business data, interpret the results
and give recommendations for business decisions.
 Apply standard statistical software, such as Microsoft Excel, to analyse data arising from real‐
life business problems.
 Able to demonstrate the attitude to provide recommendations / innovations based on
statistical data.

Assessments
Four Online Quizzes (Week 4, 7, 10 & 13) 20%
Two Individual Assignments (Week 8 & 12) 30%
Examination (2 Hours) 50%

 Online quizzes will be available on Saturday 09:00am and close on Sunday 09:00am. Make‐up
for quizzes will NOT be arranged for any reason. If you miss any of these for any reason, the
respective score will be 0.
 Individual assignments will be released on Wednesday 09:00am and due on Sunday 09:00am.
Late submission for up to 48 hours is allowed but will be penalized. 10% of the base mark will
be deducted for every 12 hours, less than 12 hours will be counted as 12 hours.
 Apart from achieving an overall passing mark for the course, you are required to obtain a
minimum mark of 20% in the final examination in order to pass the course. If you would like
the Course Examiner to consider the illness or other incidents that would prevent you from
attending the examination, you must follow the procedure as described in Academic
Regulations for Undergraduate Degrees.
Tentative Schedule of Lecture
Schedule Wed & Thu
Topic 1: Introduction to Statistics Week 1‐2
 Types of variables
 Organizing and visualizing data
 Measures of central tendency
 Measures of variation
 Exploring numerical data
 Use of Excel
Topic 2: Basic Probability Week 3
 Basic probability concepts
 Conditional probability
 Counting rules
Topic 3: Discrete and Continuous Probability Distributions Week 4‐5
 Discrete probability distribution
 Binomial distribution
 Continuous probability distribution
 Normal distribution
Topic 4: Sampling Distribution Week 6
 Introduction to sampling distribution
 Sampling distribution of the sample mean
 Sampling from normal population
 Sampling from non‐normal population
Topic 5: Confidence Interval Estimation for the Population Mean Week 7‐8
 Introduction to parameter estimation
 Confidence interval estimation for population mean with known
standard deviation
 Confidence interval estimation for population mean with
unknown standard deviation
 Sample size determination
Topic 6: Hypothesis Testing for the Population Mean Week 8‐9
 Introduction to hypothesis testing
 Hypothesis testing for the population mean with known standard
deviation
 Hypothesis testing for the population mean with unknown
standard deviation
Topic 7: Confidence Interval Estimation and Hypothesis Testing for Week 10
the Population Proportion
 Sampling distribution of the sample proportion
 Confidence interval estimation for the population proportion
 Sample size determination
 Hypothesis testing for the population proportion
Topic 8: Simple Linear Regression Week 11‐12
 Measuring the association between two numerical variables
 Simple linear regression model
 Statistical significance of a linear regression model
Revision & Consultation Week 13
Tentative Schedule of Tutorial
Week Mon Tue ‐ Fri
1 No tutorial No tutorial
2 Topic 1: Q1 – Q6 Topic 1: Q1 – Q6
3 Topic 1: Q7 – Q12 Topic 1: Q7 – Q12
4 Topic 2: Q1 – Q7 Topic 2: Q1 – Q7
5 Public Holiday * Topic 3: Q1 – Q10
6 Topic 3: Q11 – Q17 Topic 3: Q11 – Q17
7 Topic 4: Q1 – Q7 Topic 4: Q1 – Q7
8 Public Holiday * Topic 5: Q1 – Q5
9 Topic 5: Q6 – Q8 and Topic 5: Q6 – Q8 and
Topic 6: Q1 – Q3 Topic 6: Q1 – Q3
10 Topic 6: Q1 – Q9 Topic 6: Q4 – Q9
11 Topic 7: Q1 – Q5 Topic 7: Q1 – Q5
12 Topic 7: Q6 – Q14 and Topic 7: Q6 – Q14 and
Topic 8: Q1 – Q6 Topic 8: Q1 – Q6
13 Topic 8: Q7 – Q16 Topic 8: Q7 – Q16
* Week 5 and 8 Monday are public holidays, students are recommended to sit‐in other sessions by
the same tutor; and Zoom recording will be provided.

References
 Levine, D.M., Szabat, K.A. and Stephan, D.F. and Business Statistics: A First Course, Latest
Edition, Pearson Education Limited.
 Bennett, J.O., Briggs, W.L. and Triola, M.F. Statistical Reasoning for Everyday Life, Latest Edition,
Pearson Education Limited.
 Liu, K. I., To K. M., Speaking of Statistics, 2014, Pearson Education Limited.
 Newbold, P., Carlson, W.L. and Thorne, B. Statistics for Business and Economics. Pearson
Education Limited.
 Middleton, M.R. Data Analysis Using Microsoft Excel. Duxbury Press.

Online Resources
Statistics Glossary
https://www.statistics.com/glossaries/
Statistical Universe
http://www‐personal.umich.edu/~graceyor/govdocs/statuniv.html
STICI – A very interesting online statistics course
http://www.stat.berkeley.edu/~stark/SticiGui/Text/index.htm
HyperStat Online Statistics Textbook
http://davidmlane.com/hyperstat/