Introduction to Statistics
People
Description
The aim of this course is to introduce to probability theory,
descriptive statistics and linear regression for empirical research
with applications focusing on finance, economics, management and
marketing, both at a univariate and multivariate level.
The focus of the course will be mainly applied. Together with the
theoretical concepts, data sets derived from empirical research,
experimental data and questionnaires will be analyzed.
The different steps of an empirical research will be considered together
with their statistical implications: definition of a sampling plan,
preparation of a questionnaire, data collection, data input,
visualisation and processing; descriptive analysis and elaboration of
conclusions/final report.
The free-ware statistical software "R" (free version of the commercial
software "Splus", one of the main software used for statistical
purposes) will be introduced. The software can be downloaded from the
website: http://www.r-project.org/.
Data, imported from an Excel spreadsheet into "R", will be analysed. In
particular the statistical instruments needed to visualize and
summarize data collected on two or more samples and related to two or
more characters (both qualitative and quantitative) will be provided.
Prerequisites
No quantitative prerequisite is needed.
Main topics
The course comprises 3 main topics:
Probability Theory
Introduction to probability:
definitions, concept of marginal and joint probability, low of total
probability, conditional probability, notion of independence
Random variables:
discrete (Bernoulli, Binomial, Geometric, Poisson, Uniform) continuous
(Uniform, Gaussian or Normal, Exponential, Student-T, Chi-square)
Descriptive Statistics:
Univariate:
measure of location (mean, median, mode) and dispersion (variance, std deviation, quantiles)
Bivariate:
two way tables, joint and marginal distributions, covariance and correlation
Graphical instruments to visualize data
Linear regression:
Ordinary Least Squared (OLS) method
Properties of OLS
Gauss – Markov theorem
Multiple linear regression
References
Lecture notes will be available on the e-learning website
Textbooks
P. Newbold, W. Carlson, B. Thorne. Statistics for Business and Economics, Prentince Hall, 2010. 7th Edition, (also available in Italian).
M.J. Crawley. Statistics: An Introduction using R, Wiley, New York, 2005.
Education
- Master of Science in Economics in Banking and Finance (until A.Y. 2017), Foundation course, 1st year