ECON 5 Introductory Statistics for Economics, Business and Social Sciences (5)
Credit, Degree Applicable
PREREQ.: MATH 60
or 92, or placement into MATH 90
or higher, or other demonstration of MATH 60
or 92 exit skills
Application of statistical methods and interpretation of statistical findings to facilitate decision-making in Economics, Business and Social Sciences. Data sources, types and interpretation; descriptive statistics; probability theory; discrete and continuous probability distributions; sampling distributions; confidence intervals; hypothesis tests; nonparametric statistics; simple linear regression analysis; computer-based statistical analysis.
After successful completion of this course, students will be able to:
- Outcome 1: Compare, contrast, and apply standard statistical methods for obtaining and evaluating data in Economics, Business and Social Sciences.
- Outcome 2: Apply descriptive statistics to manipulate, analyze, and interpret data in multiple forms including tables, graphs, and numerical measures of central tendency and variation.
- Outcome 3: Apply concepts of sample space and probability theory to relevant scenarios in Economics, Business and Social Sciences.
- Outcome 4: Calculate and interpret probabilities for discrete and continuous probability distributions, including normal and t-distributions.
- Outcome 5: Distinguish among, choose, and effectively apply the most appropriate concepts of inferential statistics to estimate population parameters, test hypotheses and solve problems in Economics, Business and Social Sciences, and then interpret the results.
- Outcome 6: Use appropriate computer technology to perform basic statistical functions and interpret the output.