Learn to recognize the opportunities to apply basic tools from mathematics and inferential statistics in business.
Learn to implement statistical tools using the statistical software package SPSS, and to correctly interpret the results.

This course is devoted to refreshing, extending and actively applying the mathematical and statistical tools introduced in the first year quantitative methods courses.
In the mathematics part we pay attention to a number of applications of first-year mathematical tools to business economics, such as: investment under uncertainty, the CAPM-model, industrial organisation, Game Theory a.o. The purpose is twofold: to repeat and extend the first-year methods and show how they are applied on the one hand, and to get acquainted with some basic quantitative business models on the other hand.
In the statistics part we repeat, apply and extend all the inferential tools discussed in the first year: a.o. the one-sample t-test, the independent-samples t-test, the paired sample t-test, one-way-ANOVA, the chi-square test and regression analysis. Some new techniques, e.g. non parametric tests, logistic regression and factor analysis will be introduced. Case studies using real-life datasets that reflect business problems from a.o. marketing and finance are examined extensively. The empirical analyses are performed with SPSS, a statistical software package widely used in professional practice.

Sharpe, Norean D., De Veaux, Richard D., & Velleman, Paul F. (2017), Business Statistics and Extra Texts, 3rd Intern. Ed., New York: Pearson Education International .
QM1 + QM2 mathematics reader, to be downloaded on Student Portal.

Intermediate knowledge of mathematics and statistics, comparable to the course Quantitative Methods II, code EBC1033/1034/1035.