ECON11: BUS/ECON STATISTICS
The use of probability techniques, hypothesis testing, and predictive techniques to facilitate decision-making. Topics include descriptive statistics; probability and sampling distributions; statistical inference; correlation and linear regression; analysis of variance, chi-square and t-tests; statistical analysis including the interpretation of the relevance of the statistical findings. Applications using data from disciplines including business, social science, psychology, life science, health science, and education. Additional and more extensive case studies from business and economics, emphasizing statistical results that provide guidance for business decisions or suggest solutions to contemporary business and economic problems; use of larger data sets analyzed with computer software programs. PREREQUISITE: Math 233, or Math 233A and Math 233B, or Math 235, or Math 240, or Math 242 with a grade of "C" or better.
- Perform hypothesis tests involving samples from one and two populations.
- Select the appropriate technique for testing a hypothesis and interpret the result.
- Use linear regression and ANOVA analysis for estimation and inference, and interpret the associated statistics.
- Use appropriate statistical techniques to analyze and interpret applications based on data from disciplines including business, economics, social sciences, psychology, life science, health science, and education.
- Give examples of how managers and decision makers in the fields of Accounting, Finance, Marketing, Production, and Economics use statistical analysis regularly in their jobs.