Sukkur IBA University

FACULTY OF Mathematics
Course Outline
Statistical Inference STS-320
Programs & Class:BS-(AF)-IV(4 years) Semester: Fall-2019
Credit Hours: 03 Hours Instructor: Prof Dr. Niaz Hussain Ghumro
Pre-requisite Courses: Post-requisite Courses:
(STS-120) Business Statistics (ECO-311) Basic Econometrics
Co-requisite Courses: None e-mail: niaz_ghumro@iba-suk.edu.pk
Office Hours: 09:00 -17:00 Consulting Hours: Monday 3:00 to 5:00PM

EVALUATION
1. Class Participation/Home Assignment 10%
2. Assignments and Quizzes 10%
3. First Term 20%
4. Second Term 20%
5. Final Examination 40%

RECOMMENDED BOOK:
Publisher Name & Edition
S.No Book Name Author/s Name
Statistics for Economics PRENTICE HALL, Pearson
By: Michael Barrow-2017
1. Accounting and Business Education
Studies 7th Edition

REFERENCE BOOKS:
1 EXCEL 2013 for Thomas J. Quirk Springer
Business Statistics

2 Statistical By: Douglas A. Lind The McGraw-Hill

Techniques in Companies
Business and 13th Edition
Economics

STS-320 Statistical Inference

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Digital & Web Resources:
1. http://www.cenage.com/bstatistics/asw
2. http://www.cengage.com/cgi-
adsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538479820
3. http://www.dwmbeancounter.com/statistics.html
4. http://www.emarketer.com/

Introduction to Course:
The content of this course includes normal distributions, sampling theory, estimation of
statistical parameters, testing of hypothesis, inferences about mean, proportion and variance
for one and two populations, analysis of variances, one-way classifications, descriptive
methods about regression and correlation, Multiple Regression and Index Numbers.

Course Learning Objectives:

The objective of this course is to provide a foundation for the business student on basic principles of
statistical Inferences to include probability distributions of Random Variables, sampling, estimation,
point and Confidence Interval Estimation of population parameters with hypothesis testing, regression
and correlation analysis, chi square, ANOVAs one way and Multiple Regression and Index Numbers.

1. The student will know the definition of inferential statistics.

2. The student will be able to identify the Random variables and its types.
3. The student will know the mean and variance of R.Vs and its distributions..
4. The student will be able to use the normal distribution table to solve a problem.
5. The student will be able to use the applications of normal distribution in daily life.
6. The student will know the definition of a sampling distribution of means.
7. The student will know the central limit theorem.
8. The student will know the definition of a Type I and a Type II error.
9. The student will be able to calculate a confidence interval for a population parameter.
10. The student will be able to test a statistical hypothesis.
11. The student will be able to test claims about single population parameters and double
population parameters.
12. The student will know how to calculate a correlation coefficient and test about it
13. The student will know how to calculate a regression equation and est. about the parameters.
14. The student will know how to calculate Chi Square as proportion test i.e. goodness of fit test,
test of indecency in contingency table.
15. The student will know how to calculate ANOVAs one way.
16. The student will know how to collect the data and calculate the sample size.
17. The student will know how to calculate Index numbers with interpretations.

STS-320 Statistical Inference Page 2 of 7

 Outcomes:
1. The students must be familiar with Basic statistical Techniques and can prepare Statistical
Reports in business and management fields.
2. Students can be able to process statistical information and handle the information correctly for
valid conclusions.
3. Students can be able to understand concepts of statistical inference in various business and
management organizations.
4. The students can be able to measure the stability of the organization through statistical
techniques.
5. Finally students can be able to take the correct decisions on the basis of Statistical information.

IMPORTANT POLICIES
1. Expectations. I expect a class atmosphere of respect for your fellow human beings as we travel this
road together. I also expect a class atmosphere of critical thought and your best efforts. Please come
prepared to participate.
2. Readings: You are expected to read the assigned materials before the class/period. This helps you
grasp the material more fully and creates a better classroom environment.
3. Attendance: Your attendance in class is critical to fulfillment of course objectives. You will not be
eligible to appear in the exam if you cross six absences. Late coming, even for five minutes, would
strictly be marked as absent.
4. Due dates: No late work will be accepted. Assignments are due at the start of class. Presentations
cannot be made up. This is the real world. When speakers accept speaking assignments, they are
obligated to be ready to speak on that date at that time. If you are not prepared to speak, you receive a
zero on that presentation. Talk to me in advance if there are problems.
5. Plagiarism and cheating: Plagiarism is defined by Webster's New Collegiate Dictionary as:
a. To steal or pass off the ideas or words of another as one's own.
b. To use a created production without using the references.
In your writing and speaking I expect the ideas you express to be your own and to properly cite the
sources you use. Cheating will not be tolerated in any form.
6. Study and preparation: Allow yourself enough time for thoughtful, unhurried reading of the
materials. Reading to "beat the clock" and complete the materials in time for class is useless. Read
with an open but not empty mind to understand and evaluate class ideas. Please make the time to
prepare for discussion ahead of time. Your lack of preparedness will be painfully obvious to you and
the class, so save yourself from the embarrassment and poor grade.
7. Discussion: Since, discussion is vital to the learning process and I want to hear your input in class.
Therefore, interactive sessions would be used rather than talking from one end and listening at the
other.
8. Help: If you are having trouble in the course please come by the Office located in Block-III Room#
2015 First Floor. I want to help you improve all of your skills.

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9. Electronics: Deactivate all electronic pagers, cell phones, etc during class time. These hours are
sacred.
10. Exam hall decorum: In order to maintain the decorum of exam hall, try to understand everything
by yourself. Therefore asking anything from teacher, fellow or anybody else is strictly prohibited.
Bring all required material (pen, pencil, eraser, scale etc) with you. Exchange of anything in exam hall
will be penalized.

Course: Statistical Inference

Curriculum Mapping

Number Objectives Focus Coverage

1 8.2 Students should demonstrate basic abilities to identify appropriate Hypothesis TT,A,PP
approach of business research, design its methodology, collect testing
primary and secondary data, record the data qualitatively and
quantitatively analyze and present the results to address a specific
business problem.

2 8.3 Students should demonstrate basic understanding of econometrics To identify TT,A,P

modeling and apply that in analyzing relationship among and situation in
forecasting of data. applying
appropriate
test.
Note: Topic can be added and deleted according to the need of students.

Coverage Details
Objectives Taught Assessed Practiced
1 Chapter # 3 Quiz #1 Exercise
&
Assignment # 1

2 Chapter # 4 Quiz #2 Exercise

3 Chapter # 6 Quiz# 3 Exercise

&
Assignment # 2

STS-320 Statistical Inference Page 4 of 7

 4 Chapter # 8 Quiz# 4 Exercise

Weekly Course Plan:

Topics Suggested
Assignments/ reading
classes
Quizzes

The Normal Distribution

 Random variables and their Probability

Distributions
Exercises and
1-4  Introducing Normally Distributed Variables
Problems
 Areas under the standard normal curves Chapter-3
 Working with normally distributed variables
 Assessing Normality; Normal Probability
Plot
Demons. Chapter-3
5-6 Exercises and Problems
Problem
The Sampling Distribution of the Sample Mean Chapter-4
 Sampling from finite population
 Sampling from infinite population
 Sampling Error; the Need for Sampling
Distribution
 The Mean and Standard Deviation of the
7-10 Quiz No: 1
sample mean
 The Sampling Distribution of the Mean
 Mean of sampling distribution of means
 Standard error of sampling distribution of
means

Chapter-4
10-12 Exercises and Problems Home assign
Confidence Intervals for One Population Mean Chapter-5

 Estimating a Population Mean

 Confidence Intervals for One Population
Assignment
13-16 Mean When  is Known
No: 1
 Margin of Error
 Confidence Interval for One Population
When  is Unknown

 Determining sample size Chapter-5

17-18  In mean and proportion cases Problems
 Summary of Interval estimation procedures

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 Chapter-5
19-20 Exercises and Problems
21-24 Hypothesis Tests for One Population Mean Chapter-6
Exercises and
 The Nature of Hypothesis Testing
Problems
 Terms, Errors, and Hypothesis
 Hypothesis Tests for One Population When ŏ
is Known
25-26  Which Procedure Should Be Used
 Type II Error Probabilities; Power
 P-value

Exercises and Problems Chapter-6

27-28
Inferences for the Two Populations Mean Chapter-6
 The Sampling Distribution of the Difference
between Two Means for Independent
Samples
29-32
 Inferences for Two Population Means Using
Independent Samples (Standard Deviation Assignment
Assumed Equal) No:2 With
 Inferences for Two Population Means Using discussions
Independent Samples (Standard Deviation
33-34
Not Assumed Equal)
 Inferences for Two Population Means, Using
paired Samples

Chapter-6
Exercises and Problems
35-36

Analysis of Variance (ANOVA) Chapter-6

 Analysis of Variance (ANOVA)
 The F-distribution Problems
37-40
 One-way ANOVA: The Logic
 ANOVA Table
 One-way ANOVA: The Procedure
Inferences for population standard deviations Chapter-6
 Inference for One population standard
deviations Demons:
41-44
 Interval estimation Problems
 Hypothesis testing
Inferences about two population variances
Inferences for Population Proportions Chapter-6
 Confidence Intervals for One Population
Proportion
 Hypothesis Tests for One Population Exercises and
45-48
Proportion Quiz
 Inferences for Two Population Proportions
Using Independent Samples

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 Chapter-6
Test of goodness fit and independence
Chi-Square Procedures
 The Chi-square Distribution Assignment
49-52
 Chi-square Goodness-of-fit Test No: 3
 Contingency Tables; Association
 Chi-square Independence Test

Chapter-7
Descriptive Methods in Regression and
Correlation
 Linear Equation with One-independent
Variable Exercises and
53-56  The Regression Equation Problems
 The Co-efficient of Determination
 Linear Correlation

Chapter-8
Multiple Regression Through software
57-60 Problems
 Principles of Multiple regression

Data Collection and Sampling Methods Chapter-9

 Using Secondary Data Sources
Mandato  Using Electronic Data Sources for
collecting Primary data Quiz No: 2
ry
 Calculating Required Sample size collecting
the Sample.
Index numbers and their Types Chapter-10
 A simple index number
 A price index with more than one
commodity
 Using expenditures as weights
61-64 Problems
 Quantity and expenditure indices
 The Retail Price Index , Inequality indices,
The Lorenz curve, The Gini coefficient,
Concentration ratios

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