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Teaching R Business Statistics and Statistical Computing SLIDE 1 Teaching R
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Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Mar 06, 2018

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Page 1: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Teaching RBusiness Statistics andStatistical Computing

SLIDE 1 Teaching R

Page 2: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

WU Vienna - Involved Persons

Kurt Hornik

R Core Developer, ISI Highly Cited Researcher

Ronald Hochreiter

Business Informatics

Teaching: Statistics and Finance (Bachelor), Finance (Master)

Christoph Waldhauser

Political Science

Teaching: Statistics (Bachelor, Post Graduate (Social Science))

SLIDE 2 Teaching R

Page 3: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

WU Vienna - Financial Times Ranking

International Business Administration program

Overall rank: 24th out of 65 programs.

4th in the German-speaking world.

CEMS Master in International Management program

Overall rank: 2nd out of 65 programs.

European Business School Ranking 2009

34th place out of 70.

SLIDE 3 Teaching R

Page 4: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

WU Vienna

Students (Spring 2010)

Total students 26,065 (49% women).

International students 6,272 (24% of total).

Incoming exchange students: approx. 1000 per year.

Outgoing exchange students: approx. 900 per year.

Faculty and Staff (2009 in full-time equivalents)

Total faculty 620 (39% women).

Administrative staff 413 (70% women).

SLIDE 4 Teaching R

Page 5: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

WU Vienna

Resources

Budget (2009) EUR 110 million, Premises 137,000 m2

Library stock 819,000 books

221 Partner universities, 10 International Summer Universities

130 Courses in English per semester

Certifications

PIM member since 1989

CEMS member since 1990

EQUIS 2007, renewed 2010

SLIDE 5 Teaching R

Page 6: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Business Statistics

Contents at WU (undergraduate level)

Descriptive Statistics

Hypothesis Testing (including Permutation Test)

Regression, ANOVA (uni- and multi-variate)

Model Selection

Time Series Analysis, Stochastic Processes

Problems

Only one lecture, 2 hours, just 4 ECTS points!

Prepare students for finance, economics, marketing, . . .

SLIDE 6 Teaching R

Page 7: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

R Examination Package

A quick glance at the package

Package exams on CRAN (free, open-source).

Automatic exam generation.

Integrated facilities for correction.

Minimization of of time from design of exam to execution,correction, and publishing results.

Implementation at WU

Individual exams for each and every student.

Results are published online (web interface) within 4-24 hoursafter the exam.

SLIDE 7 Teaching R

Page 8: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Dos and Don’ts / Business Statistics

Main rule

Do not invent real world examples if you do not have a clue about thearea and do not mix (and mess) application areas.

Example from current WU lecture

Hypothesis test, proportion test (second lecture) examples createdby a mathematician: cheque reader and credit card.

Problem

Overestimation of familiarity with real world applications.

SLIDE 8 Teaching R

Page 9: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Why Statistical Computing?

Tim Burners-Lee

“Journalists need to be data-savvy”

New world statistics

data-driven

computationally expensive

visualization and immersion

(online) data harvesting

SLIDE 9 Teaching R

Page 10: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Why R?

Advantages of R

Free Software

State of the art

low cost

no license hassle

rather low level

very transparent

excellent community for support

SLIDE 10 Teaching R

Page 11: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

SLIDE 11 Teaching R

Page 12: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

SLIDE 11 Teaching R

Page 13: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

Who? Qualified faculty

Industry experience with R

Experience in teaching software

Qualification programmes

SLIDE 11 Teaching R

Page 14: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

What? Syllabus

Computer driven statistical analysis

Statistical programming

Data visualization

SLIDE 11 Teaching R

Page 15: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

Which channel? Infrastructure

FLOSS comes at no cost

Hardware needs to be provided

Computer labs at WU available 24/7 to students

SLIDE 11 Teaching R

Page 16: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

Whom? Audience

Master program attracts different backgrounds.Differences in

computer literacy

statistical literacy

analytical experience

SLIDE 11 Teaching R

Page 17: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

General Considerations

Lasswell’s formula

Who teaches what in which channel to whom with what effect?

What effect? Teaching outcomes

Statistical Analysis

Statistical Programming

Deployment of stat methods

Autonomous extension of knowledge (i.e. learn how to use newR packages)

SLIDE 11 Teaching R

Page 18: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Smoothening Out Differences

Starting point

heterogenous group of students

On the way

online & self-study materials

small group tutorials

peer tutoring

End point

homogeneous performances of entire group

SLIDE 12 Teaching R

Page 19: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Smoothening Out Differences

Starting point

heterogenous group of students

On the way

online & self-study materials

small group tutorials

peer tutoring

End point

homogeneous performances of entire group

SLIDE 12 Teaching R

Page 20: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Smoothening Out Differences

Starting point

heterogenous group of students

On the way

online & self-study materials

small group tutorials

peer tutoring

End point

homogeneous performances of entire group

SLIDE 12 Teaching R

Page 21: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Partial Immersion

Learning statistics is like learning a language

Language learning

steep learning curve

mixes theory & application

exposure maximizes results

Statistics learning

mediated with GUIs

interactive usage of R

early start with R exposure

Solution: Partial immersion

is a technique in which students are early on and repeatedly exposedto a new language. Content is provided in both the old and the newlanguage.

SLIDE 13 Teaching R

Page 22: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Partial Immersion

Learning statistics is like learning a language

Language learning

steep learning curve

mixes theory & application

exposure maximizes results

Statistics learning

mediated with GUIs

interactive usage of R

early start with R exposure

Solution: Partial immersion

is a technique in which students are early on and repeatedly exposedto a new language. Content is provided in both the old and the newlanguage.

SLIDE 13 Teaching R

Page 23: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Partial Immersion

Learning statistics is like learning a language

Language learning

steep learning curve

mixes theory & application

exposure maximizes results

Statistics learning

mediated with GUIs

interactive usage of R

early start with R exposure

Solution: Partial immersion

is a technique in which students are early on and repeatedly exposedto a new language. Content is provided in both the old and the newlanguage.

SLIDE 13 Teaching R

Page 24: Teaching R Business Statistics and Statistical Computingstat.uns.ac.rs/workshop1/wu-novisad101210.pdf · WU Vienna - Financial Times Ranking International Business Administration

Quality Control

Quality indicators

drop-out rate

PhD scholarships awarded

. . .

Student feedback

qualitative focus group discussions

quantitative survey

SLIDE 14 Teaching R