STATISTICS

Descriptive methods of data classification, sampling, collecting, organizing, and presentation of data in order to evaluate various business situations in a decision-making context. Computations through appropriate computer software are emphasized. Students learn mathematical methods for descriptive statistics, frequency distributions and measures of location and variation. An introduction of regression and correlation analysis including the examination of the regression equation, coefficient of correlation and determination and the standard error. Time series analysis is covered including computations for short-term forecasting. Finally, students learn basic probability to solve business-related problems.