Aims & Learning Objectives:
Aims: To teach the fundamental ideas of sampling and its use in estimation and hypothesis testing. These will be related as far as possible to management applications.
Objectives:
Students should be able to obtain interval estimates for population means, standard deviations and proportions and be able to carry out standard one and two sample tests. They should be able to handle real data sets using the minitab package and show appreciation of the uses and limitations of the methods learned.
Content:
Different types of sample; sampling distributions of means, standard deviations and proportions. The use and meaning of confidence limits.
Hypothesis testing; types of error, significance levels and P values. One and two sample tests for means and proportions including the use of Student's t. Simple non-parametric tests and chi-squared tests. The probability of a type 2 error in the Z test and the concept of power.
Quality control: Acceptance sampling, Shewhart charts and the relationship to hypothesis testing.
The use of the minitab package and practical points in data analysis.
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