Statistics: Basic Statistical Methods 2

Quantitative statistical methodologies useful across disciplines. Analysis of variance, multiple and logistic regression, time series analysis, non-parametric methods, Bayesian statistics and decision analysis. Prerequisite: A grade of C or better in STAT 1410, STAT 2430, or STAT 3210.

Prereqs enforced by the system: C or better in STAT 1410 or STAT 2430 or STAT 3210 or STAT 211 or EC 170; Open to Degree and PACE students

This course builds on and extends what you have covered in Stat 141/Econ 170. After a quick review, 183 turns to experiment design and analyzing scenarios beyond a 2-sample comparisons and dealing to multiple variables. This topic, called ANOVA, might be familiar to some. Speaking of multiple variables…183 then moves to explore Regression with multiple variables (remember Linear Regression with its single variable predictor in 141?). This leads the discussion to at non-linear models. Don’t be scared…it’s covered without Calculus! You will also discover how to use categorical variables in prediction models as well as how to make predictions about categorical variables, such as disease incidence, or purchasing behavior …and whether someone would read an email about Stat 183!! After Regression, 183 looks at how data changes over time. Called appropriately enough: Time Series. The focus here in on the future…forecasting! Beyond pricing predictions also carbon footprint and weather forecasting. No crystal ball, just a little math. Next for 183, Nonparametric Statistics. Non…means something is missing right? Assumptions about the population the data is selected from (that it’s Normal) and its parameters are less the focus. As there are entire courses in this area, 183 will look at some of the more mainstream nonparametric methods and tests. Lastly, 183 wraps up with Decision Analysis…that is making decisions based on expectations and probabilities. This too builds on some of the probability work done in 141/170.

You are expected to read material in preparation for each class session. A laptop will be required each class as we will “put into practice” what we learn each day…by hand and using MS Excel…after a short lecture component. A calculator is also required. Access to the WileyPlus portal is also required Expect to spend 6-9 hours a week outside of class time.

Your grade will be based on: 4 non-cumulative exams (16% each) 4 Case Study Projects (6% each) HW (via WileyPlus Portal) (12%) ** Note this is subject to change