SHEB405 Principles of Business Statistics


This introductory unit provides an understanding of the basic statistical methods required for the study of business related problems. The unit introduces students to the assumptions, concepts and techniques used by statisticians to make decisions. This unit focuses on descriptive statistics, probabilities and probability distributions, inferential statistics and regression analysis.

This unit aims to:

• develop basic statistical skills so students can apply them to business problems.

• give emphasis to methods of estimation and hypothesis testing which have a potential role in a manager’s decision-making process.

• introduce regression analysis so students can apply it to business problems.

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Business Studies (Joint programme with The University of Sheffield)


Dr. Petros Golitsis
Assist. Prof. Ekatherina Tzvetanova-Georgieva, PhD

Course Description:


Students who complete this course:

1) will be able to:

• Organize data into a frequency distributions and present them graphically

• Compute the mean, median, standard deviation and other statistical measures of grouped and ungrouped data

• Define and calculate the z values of the normal distribution, show awareness of Binomial and Poisson distributions, and explain the central limit theorem

• Construct confidence interval for population mean and population proportion, and determine the sample size

• Conduct a test of hypothesis about a population mean and population proportion

• Undertake regression and correlation analysis and construct a simple regression model


Full-time Programmes

Types of Courses:

Language of teaching:


  1. DESCRIPTIVE STATISTICS Summarizing data using graphical and numerical techniques. Reading: (L Chapters 2, 3 and 4)
  2. PROBABILITY DISTRIBUTIONS 1. Random variables 2. Normal distribution 3. Binomial distribution 4. Poisson distribution Reading: (L Chapters 6 and 7)
  3. ESTIMATION AND CONFIDENCE INTERVALS 1. Central Limit Theorem 2. Confidence interval estimation for the mean (large and small samples) 3. Confidence interval estimation for proportion 4. Sample size determination Reading: (L Chapters 8 and 9 )
  4. ONE SAMPLE HYPOTHESIS TESTING FOR THE POPULATION MEAN 1. General procedure 2. Hypothesis testing for the mean (large and small samples). Reading: (L Ch.10 and 11)
  6. ONE SAMPLE HYPOTHESIS TESTING FOR THE POPULATION PROPORTION Hypothesis testing for proportion Reading: (L Ch.10 and 11)
  7. REGRESSION ANALYSIS, CORRELATION ANALYSIS, MULTIPLE REGRESSION ANALYSIS 1. What is correlation analysis? 2. Regression analysis 3. Multiple regression analysis 4. Evaluating the Regression Equation Reading: (L Ch. 13 and 14)


• Lind, D. A. Marchal, W. G., Wathen, S.A. (2017) Statistical Techniques in Business & Economics. 17th edition. McGraw-Hill.

• Salvatore, D., Reaggle, D., (2011), Statistics and Econometrics, 2nd edition, Schaum’s Outlines.

• McClave, J.T., Benson, P.G., Sincich, T.T. (2018) Statistics for Business and Economics. 13th edition, Pearson.

• Freedman, D., Pisani, R., and Purves, R. (2014) Statistics, 4th revised edition, Norton.