statistics for business and economics

Marcelo Fernandes

St at ist ics for Business and
Econom ics

2
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St at ist ics for Business and Econom ics
© 2009 Marcelo Fernandes & Vent us Publishing ApS
I SBN 978- 87- 7681- 481- 6

3
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Contents

Statistics for Business and Economics

Cont ent s
1.
1.1
1.2
1.3

Introduction
Gathering data
Data handling

Probability and statistical inference

6
7
8
9

2.
2.1
2.2
2.3

Data description
Data distribution
Typical values
Measures of dispersion

11
11
13
15

3.
3.1
3.2

Basic principles of probability
Set theory
From set theory to probability

18
18
19

4.
4.1
4.2
4.3
4.4
4.5
4.6

Probability distributions
Random variable
Random vectors and joint distributions
Marginal distributions
Conditional density function
Independent random variables
Expected value, moments, and co-moments

36
36
53
56
57
58
60

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Statistics for Business and Economics

Contents

4.7
4.8

Discrete distributions

Continuous distributions

74
87

5.
5.1
5.2

Random sampling
Sample statistics
Large-sample theory

95
99
102

6.
6.1
6.2

Point and interval estimation
Point estimation
Interval estimation

107
108
121

7.

7.1
7.2
7.3
7.4

Hypothesis testing
Rejection region for sample means
Size, level, and power of a test
Interpreting p-values
Likelihood-based tests

127
131
136
141
142

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