Business Statistics and Analysis (1.5 ECTS)

Short description:

The Business Statistics and Analysis is designed to equip you with a basic understanding of business statistics calculation tools and analysis. You will master essential descriptive statistics calculations and interpretation. You will also explore basic probability concepts, including Linear Regression analysis.

In this module we aim at training current business students and future managers in key descriptive and inferential statistical tools used in practice for conducting market research and revenue prediction.

We begin by training participants on the descriptive statistical analysis. We then introduce key probability concepts. We start with the sampling distribution. After that we estimate a confidence interval. Furthermore a hypothesis test of the mean and proportion will be conducted. Finally we use the linear regression analysis to estimate revenue growth.

At the end of the module, participants will be able to conduct market research on any firm and do predictions with linear regression analysis. to predict its future performance. Such knowledge is useful when managers want to make key decisions for sales and revenue growth using existing data.

 Target group are those:

· Current undergraduate business students (preferably 2nd or 3rd year students)

· Current MBA students (postgraduate Business students)

· Junior managers, Investors and Interns

 Mode of delivery:

Lectures, Demonstration, and Group Work. We will follow problem-based learning (PBL) to make sessions intuitive and enjoyable. During lecture sessions, we will do the descriptive and inferential analysis. Two students will form a group and the group will be required to do a small market research   with a data set. Test of hypothesis and linear regression are the important elements in this analysis.

Expected achievements:

At the end of the module, participants will be able to make use of available data to predict its future performance. Such knowledge is useful when managers want to make key decisions for revenue growth.

What to be covered:

Day 1: Introduction to Statistics

  • Population
  • Sample
  • Qualitative data
  • Quantitative data
  • Calculation mean and standard deviation
  • Calculation variance

Day 2: Understanding inferential statistics

Day 3: Confidence intervals and hypothesis tests

Day 4: Regression analysis and introduction to assignment

Day 5: Market research and revenue growth through regression analysis

Course leader: Drs. R. Radjie   (e-mail: r.radjie@hhs.nl)

web link to profile: https://www.linkedin.com/in/rishma-radjie-8515b614?trk=nav_responsive_tab_profile