Spring,
Fall
4
Drawing conclusions from limited information is a common characteristic of decision making in economics and business. Although this course is designed to introduce the student to basic concepts of probability and statistics as applied to topics in Economics and Business, emphasis will be placed on the use of statistical inference to reduce the impact of limited information or uncertainty in decision-making. Topics will include descriptive statistical measures, probability, random variables, probability distributions, sampling distributions, point and interval estimation, hypothesis testing, time series analysis, regression and the use of index numbers.