Montgomery College 2023-2024 Catalog
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Jun 20, 2024
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CE-R

An introductory course in the business and economic application of descriptive and inferential statistics. The meaning and role of statistics in business and economics, frequency distributions, graphical presentations, measures of central tendency and dispersion, probability, discrete and continuous probability distributions, inferences pertaining to means and proportions, regression and correlation, time series analysis, and decision theory will be discussed. Assessment Level(s): ENGL 101 /ENGL 011 , MATH 117 . Three hours each week.

3 semester hours

May not be taken concurrently with MATH 017  or MATH 020  or MATH 030  or MATH 045  without appropriate Math assessment score.

Course Outcomes:
Upon completion of this course, a student will be able to:

• Organize and present data in a tabular as well as a graphical format.
• Ascertain the appropriate use of and be able to calculate various measures of central tendency and dispersion.
• Describe data using measures of central tendency and dispersion as well as coefficients of skewness and/or kurtosis.
• Calculate and distinguish between various types of probability for one or more events.
• Evaluate probabilistic statements for discrete as well as continuous probability distributions.
• Ascertain the appropriate use of various discrete as well as continuous probability distributions.
• Make inferences based upon large as well as small samples through the development of one-tailed and two-tailed tests of hypotheses pertaining to population parameters.
• Develop and apply regression and correlation models.
• Develop and apply a time series model for the purpose of forecasting.
• Make economic decisions pertaining to events and outcomes under conditions of certainty, partial uncertainty, and complete uncertainty.
• Utilize computer to complete a statistical project.

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