Overview
An introduction to probability and statistical inference for use in economics and business. Topics covered include random variables, moments and cumulants generating function, discrete and continuous distributions, independence, jointly distributed random variables, conditional random variables, the central limit theorem, sampling distribution, properties of estimators, confidence intervals, tests of hypotheses.
Offerings
S2-01-CLAYTON-ON-CAMPUS
Requisites
Prerequisite
Prohibition
Rules
Enrolment Rule
Contacts
Chief Examiner(s)
Professor Farshid Vahid-Araghi
Learning outcomes
On successful completion of this unit, you should be able to:
1.
understand concepts of probability, statistical inference, generating functions and cumulants
2.
derive and use generating functions to evaluate moments and establish the distribution of linear combinations of independent random variables
3.
understand and apply the main methods of estimation and the main properties of estimators
4.
construct confidence intervals for unknown parameters and test hypotheses
5.
develop written, presentation and group work skills through a series of assessed essays, assignments and tutorial work.
Teaching approach
Problem-based learning
Peer assisted learning
Assessment
1 - Within semester assessment
2 - Examination
Scheduled and non-scheduled teaching activities
Lectures
Tutorials
Workload requirements
Workload
Other unit costs
Costs are indicative and subject to change.
Electronics, calculators and tools: $40