ETC 1000 Business and Economic Statistics
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The ETC 1000 Business and Economic Statistics course is basically the introduction to descriptive statistics -- the collection, organization, presentation and analysis of grouped and ungrouped data employing the measures of location and dispersion. The course as well include, the construction of index numbers, with application to share price indices and the CPI; concept of sampling as a way of capturing uncertainty in relation to data; assessment of relationships between variables using simple and multiple regression, with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; estimators and their properties; constructing and interpreting confidence intervals, testing a hypothesis, comprising analysis of variance.
Course outcomes:
- Apply business and economic data employing tables, charts and descriptive statistics methods, implementing standardization techniques where suitable.
- Explain the concept of a sampling distribution, estimators and their properties.
- Implement the main ideas of probability theory to business and economic decision-making.
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