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Dec 27, 2024
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ECON 261 - Principles of Statistics I (3 units)
Descriptive statistics; graphing; central tendency and dispersion measures; probability; probability distributions; decision theory, sampling, inference and estimation. Emphasis on data analysis and critical thinking.
Prerequisite(s): MATH 126 or higher; IS 101.
Units of Lecture: 3
Offered: Every Fall, Spring, and Summer
Student Learning Outcomes:
Upon completion of this course:
1. Students will be able to correctly identify both qualitative and quantitative variables and organize data by developing the appropriate tabular and graphical methods typically used in business applications.
2. Students will be able to compute and interpret the basic statistical measures of central tendency, dispersion and location when presented with study variables and understand the importance of these measures in statistical analysis.
3. Students will be able to demonstrate understanding of the concept of randomness and the use of basic probability.
4. Students will be able to correctly use special discrete and continuous probability distributions with an emphasis on how the distributions are used to assist decision making.
5. Students will be able to identify and use sampling distributions and apply them to confidence interval estimation for both quantitative and qualitative variables.
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