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COVENANT UNIVERSITY OTA
College of Development Studies
Department of Economics and Development Studies
COURSE COMPACT
COURSE CODE:
COURSE TITLE:
SESSION:
SEMESTER:
LECTURER:
ECN 334
Statistical Theory
2014/2015 academic session
ALPHA
(i) Dr. Henry Okodua (Room C302C)
(ii) Dr. Paul Ojeaga (Room H210)
CONTACT DAYS:
(i) Wednesday (12-2) pm
Total Contact Hours per Week: Two
BRIEF COURSE DESCRIPTION: The central focus of this course is the branch of statistics
known as inferential statistics. This has to do essentially with the science of using probability to
make decision. Because probability is basic to statistical decision making considerable energy will be
devoted to the application of the “laws of chance” throughout this course.
COURSE OBJECTIVE:
This course is aimed at equipping the student with the relevant statistical techniques that are
applicable to empirical economics. The topics are carefully selected in order to build on knowledge
already acquired by the student in mathematics and elementary statistics. It is hoped that the student
will be able to devise more precise and robust methods of analyzing quantitative economic data at
the end of this course.
MODE OF TEACHING/LECTURE DELIVERY:
Formal teaching technique will be adopted. However, modern teaching aid including multi-media
projector and audiovisuals and smart-boards shall be employed in order to enhance teaching
effectiveness. Lecture materials will be made available online via the Covenant University college
portal. The student is therefore expected to consult these materials, particularly the lecture notes,
before each lecture.
Continuous assessment for this course will be based on the following:
(i)
Regular and punctual attendance of all scheduled lectures by the student
(ii)
The level of participation of the student in every authorized class discussion during
lectures
(iii)
The quality of participation in organized tutorial classes
(iv)
Performance of the student in all administered class tests (scheduled and impromptu)
during the semester, including the mid-semester examination.
GRADING METHOD:
This is comprised of the following:
End of semester examination: 70%
Continuous Assessment: (i) Mid-Semester examination: 15%
COURSE OUTLINE
Module One: Basic probability concepts
Week One
The concept of probability
Approaches to probability
Definition of Terms
Sample Space and Probability Measure
Conditional Probability
Assignment of Probability
Sample Space
Mutually exclusive events
Informal definition of probability
Classical definition of probability
Frequency interpretation of probability
Week Two
Axiom of Probability
Total Probability and Bayes Theorem
MODULE TWO: Random variables and probability distributions
Week Three
Random Variables
Probability distributions of a random variable
Probability distribution function for discrete random variables
Week Four
Probability density function for continuous random variables
Properties of random variables
Cumulative distribution function
Module three: mathematical expectations
Week Five
Mathematical Expectations and the concept of expected value
Properties of expected value
Introduction to moments and moments of a single random variable
Central moment, variance and standard deviation
Week Six
Moment generating function
MGF, mean and variance of random variable
Module Four: Hypothesis Testing
Reference applied statistical for engineers Chapters 9 & 10 (pp 278 - 432)
Week Seven
Introduction
Level of significance
The role significance level in hypothesis testing
Selecting a level of significance
Week Eight
Choosing between Type I and Type II errors
The power of test of hypothesis
Summary & Exercises
Ground Rules/ Regulation
Students are expected to be in class before commencement of lectures. They are
equally expected to be well behaved so that the aims of the course will be
achieved. Entrance into the lecture halls is not condoned ten minutes into the
lecture. Students are encouraged to participate actively in class during interactive
sessions. Prior notice should be given if a student will be absent from any class.
Alignment to Core Values, Visions and Goals
The course content and delivery is in line with the university vision and goals in
sense that it prepares students who will take up leadership positions in government,
industry, banking, planning, academics and the service sector not only within the
domestic economy but also in regional and international institutions.
Recommended Textbooks
i.)
ii.)
iii.)
iv.)
Dowdy S., S. Weardon & D. Chilko (2004) Statistics for Research . New
York. John Wiley & Sons, Inc.
Jasingh, L.R. (2000) Statisitics for utterly confused New York Mcgraw
Hill Inc
Lind D.A., W.G. Marchal & S.A. Wathen (2006) Basic Statistics for
Business and Economics. New York. McGraw – Hill Inc
Rumsey D. (2007) Intermediate Statistics for Dummies. Indiana. Wiley
Publishing Inc.