ISM5203 Statistical Data Analysis and Decision MakingBahçeşehir UniversityDegree Programs ACTUARIAL SCIENCE (TURKISH, NON-THESIS)General Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
ACTUARIAL SCIENCE (TURKISH, NON-THESIS)
Master TR-NQF-HE: Level 7 QF-EHEA: Second Cycle EQF-LLL: Level 7

Course Introduction and Application Information

Course Code Course Name Semester Theoretical Practical Credit ECTS
ISM5203 Statistical Data Analysis and Decision Making Fall 3 0 3 8
This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester.

Basic information

Language of instruction: Turkish
Type of course: Departmental Elective
Course Level:
Mode of Delivery: Face to face
Course Coordinator : Dr. Öğr. Üyesi ETHEM ÇANAKOĞLU
Course Lecturer(s): Prof. Dr. CENGİZ KAHRAMAN
Dr. Öğr. Üyesi YÜCEL BATU SALMAN
Recommended Optional Program Components: N/A
Course Objectives: This course provides the use of statistical and quantitative methods to examine and explore data. It aims to build and interpret models from this data for decision making in all functional areas.

Learning Outcomes

The students who have succeeded in this course;
Ability to make decisions with statistical methods, ability to collect meaningful data, ability to interpret data and transform it into information/knowledge

Course Content

Methods covered include: collecting data, summarizing and exploring data, hypothesis testing, confidence intervals, regression analysis.

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Introduction: Description of data
2) Data collection
3) Descriptive Statistics
4) Confidence intervals
5) Hypothesis testing
6) Hypothesis testing
7) Midterm
8) Regression analysis
9) Regression analysis
10) ANOVA
11) ANOVA
12) SPSS
13) Project presentations
14) Project presentations

Sources

Course Notes / Textbooks: Douglas C. Montgomery and George C. Runger. Applied Statistics and Probability for Engineers, John Wiley & Sons, 7th Edition.
References: Statistics for Business: Decision Making and Analysis, Robert A. Stine, Dean Foster, Pearson, 2011, 0321123913

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Project 1 % 35
Midterms 1 % 25
Final 1 % 40
Total % 100
PERCENTAGE OF SEMESTER WORK % 25
PERCENTAGE OF FINAL WORK % 75
Total % 100

ECTS / Workload Table

Activities Number of Activities Duration (Hours) Workload
Course Hours 14 2 28
Laboratory 14 2 28
Study Hours Out of Class 14 1 14
Project 1 30 30
Final 1 30 30
Total Workload 130

Contribution of Learning Outcomes to Programme Outcomes

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Acquire the quantitative skills to become an actuary. 4
2) Will know about risks and ways to manage risk. 3
3) Will know about financial planning and its role in actuarial management. 1
4) Will be able to design new products and carry profitability tests and scenario analyses.
5) Besides gaining competence in theoretical subjects, the graduate will also be aware of practical issues and applications through lecturers and instructors who have market experience.
6) Will be able to follow all innovations and carry on research on the particular area. 3
7) Will share information with colleagues and will use it for project development..
8) Will be able to apply and make the necessary adaptation to all new rules and regulations.