Quantitative Methods in Economics & Business (I)
The objectives of this course is to introduce the students to the fundamental concepts of probability, as applied to modeling business, economics and information technology issues. The course also aims at the smooth introduction of students into statistical methods used in economics and management. This course will provide the necessary education to students so that they can attend more specialized courses of stochastic modeling, management, decision making, etc.
The Course contents are:
- Probability Assumptions, Events and Sample Space, Conditional Probability.
- Discrete random variables, distribution. Examples and applications in fundamental discrete distributions (Bernoulli, Poisson, Geometric).
- Continuous random variables, distribution, probability density. Examples and applications of fundamental continuous random variables (uniform, exponential, normal etc).
- Jointly distributed continuous and discrete random variables, Independence, Covariance.
- Introduction to asymptotic theory, central limit theorem and applications.