Skip to main content
NounStudy
Back to Course Catalog
ECO450Social Sciences2 Unitsintermediate

Applied Statistics

This course introduces students to various statistical tools applicable in economic analysis. Building upon elementary statistics and economics, it explores underlying assumptions, formulas, and calculations. Students will learn to apply these tools to real-life situations and interpret calculated coefficients in an economic context. The course covers sampling distributions, analysis of variance and covariance, multiple regressions, time series analysis, and price indices.

Generate AI Study Notes

Transform this course into personalized study materials with AI

208h
Study Time
13
Weeks
16h
Per Week
intermediate
Math Level
Course Keywords
Applied StatisticsEconomic AnalysisRegressionTime SeriesPrice Index

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
🔬
Learning Type
Hands-on Practice

Course Topics

Key areas covered in this course

1

Sampling Distributions

2

Analysis of Variance

3

Analysis of Covariance

4

Multiple Regression

5

Time Series Analysis

6

Price Index

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Elementary Statistics

Elementary Economics

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Economist

Apply your skills in this growing field

Statistician

Apply your skills in this growing field

Data Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

FinanceEconomicsMarket ResearchGovernmentConsulting

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Statistical Inference

4h

Unit 1: Sampling Distribution Defined

4 study hours
  • •Define population and sample.
  • •Explain sampling theory and its significance.
  • •Analyze parameter estimation techniques.
  • •Practice estimating sample mean, population mean, and related statistical measures.
Week
2

Module 1: Statistical Inference

4h

Unit 2: Sampling Distribution of Proportion

4 study hours
  • •Calculate sampling distribution of proportion.
  • •Estimate sampling distribution of sum.
  • •State sampling distribution of difference and standard error.
  • •Solve problems involving binomial distribution.
Week
3

Module 1: Statistical Inference

4h

Unit 3: Sampling Distribution of Difference and Sum of Two Means

4 study hours
  • •Calculate sampling distribution of sum of two means.
  • •State sampling distribution of difference and standard error.
  • •Apply formulas to solve problems related to sampling distributions.
Week
4

Module 1: Statistical Inference

4h

Unit 4: Probability Distribution

4 study hours
  • •Discuss the concept of probability.
  • •State different probability distributions.
  • •Calculate probabilities using binomial, Poisson, and normal distributions.
  • •Interpret results in practical scenarios.
Week
5

Module 2:

4h

Unit 1: One-way Factor Analysis of Variance

4 study hours
  • •Calculate the total sum of squares.
  • •State sum of squares between groups.
  • •Explain sum of squares within the group.
  • •Describe mean square and its significance.
Week
6

Module 2:

4h

Unit 2: Two-way Factor Analysis of Variance

4 study hours
  • •Test for two null hypotheses.
  • •Apply two-way analysis of variance.
  • •Interpret results for treatment and block effects.
  • •Understand the interaction between factors.
Week
7

Module 2:

4h

Unit 3: Analysis of Covariance

4 study hours
  • •Define analysis of covariance.
  • •Discuss covariate and its role.
  • •Explain adjusted Yis.
  • •Develop and analyze table of analysis of covariance.
  • •Calculate terms for ANCOVA table.
Week
8

Module 3:

4h

Unit 1: Estimation of Multiple Regressions

4 study hours
  • •Regress independent variables on the dependent variable.
  • •Identify parameter estimates involved.
  • •Calculate values of bo, b1, b2, … bn.
  • •Analyze test of significance.
  • •Discuss test of overall significance of the regression.
Week
9

Module 3:

4h

Unit 2: Partial Correlation Coefficient

4 study hours
  • •Analyze partial regression coefficient.
  • •State estimation of partial regression coefficient.
  • •Interpret the meaning of partial correlation.
  • •Calculate partial correlation coefficients.
Week
10

Module 3:

4h

Unit 3: Multiple Correlation Coefficient and Coefficient of Determination

4 study hours
  • •Estimate multiple correlation coefficient (r).
  • •Estimate coefficient of determination.
  • •Interpret the statistical significance of the results.
  • •Understand the relationship between multiple correlation and coefficient of determination.
Week
11

Module 3:

4h

Unit 4: Overall Test of Significance

4 study hours
  • •State the calculation of F-statistics (Fcal).
  • •Check the corresponding tabulated value of F-statistics through its degree of freedom.
  • •Compare the F-statistics and Ftab.
  • •Interpret the answer in terms of statistical significance.
Week
12

Module 4:

4h

Unit 1: Time Series and Its Components

4 study hours
  • •Define time series and its applications.
  • •Identify component parts of time series.
  • •Describe methods of estimating time series.
  • •Attempt estimation and graphical representation of the trend.
Week
13

Module 4:

4h

Unit 2: Quantitative Estimation of Time Series

4 study hours
  • •Estimate time series data using least square method.
  • •Estimate time series using moving average.
  • •Estimate time series using semi-average method.
  • •Compare and contrast the different estimation methods.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all unit objectives and key concepts.

2

Practice solving problems from the Student Assessment Exercises (SAE).

3

Focus on understanding the assumptions and limitations of each statistical tool.

4

Create summaries of formulas and their applications.

5

Allocate time to review tutor-marked assignments and feedback.

Related Courses

Other courses in Social Sciences that complement your learning

ECO441

Economics Planning I

2 Units
ECO442

Advanced Macro Economics

2 Units
HCM434

Lodging Facilities Management

2 Units
View All Social Sciences Courses