Year of Study:	2
Credit Units:	3
Duration:	45hours
Prerequisites:	STA1001 Mathematics and Statistics or with the Instructor’s permission and upon endorsement of the relevant Chairperson and Programme Director

This module introduces the basic concepts of sampling theory such as sampling variance, standard error of estimate and types of error, hypothesis testing, regression analysis and time series forecasting, which can be applied in a business context.

Upon completion of this module, students should be able to:

1. apply point and interval estimators in a business environment;
   
   


2. perform hypothesis tests on mean, proportion and variance in business situations;
   
   


3. perform goodness-of-fit test for different frequency distributions in business problems;
   
   


4. use regression analysis to perform time series forecasting;
   
   


5. perform statistical analysis with computer software; and


6. interpret the computer output.