ECON 261 - Principles of Statistics I

Credits: 3

Description
Introduction to descriptive statistics, probability and expectations, theoretical distributions, hypothesis testing and regression analysis. The emphasis is on use, application, and interpretation of statistical techniques.

Student Learning Outcomes

Explain and interpret the difference between descriptive and inferential statistics.
Summarize statistical data by developing a set of descriptive statistical measures.
Differentiate between discrete and continuous random variables, and understand how each is characterized and implemented differently.
Understand elementary probability models and numerically apply them to problems.
Define and explain the notion and forms of sampling distribution.
Formulate, conduct, and evaluate tests of hypotheses.
Calculate and interpret various forms of confidence intervals.
Formulate and interpret the simple regression model.

Prerequisite: MATH 124