Associate Professor V Martin Second semester Three hours a week. On completion of this subject students should:

• understand a number of statistical and mathematical techniques and their application to accounting, economics and finance;
• be familiar with the basic tenets of probability theory;
• be able to summarise data sets with a small number of statistical parameters;
• be familiar with the normal distribution and be able to conduct a hypothesis test using Z-tables.

Explanation and application of statistical and mathematical techniques which are used for decision making and analysis in business and economics. Measures of location and dispersion; probability, random variables, expected values, decision theory and estimation (mean and proportions), hypothesis testing using the normal distribution. Applications to accounting, economics and finance. A 2-hour end-of-semester examination (80 per cent) and tutorial exercises of up to 50 pages in total (20 per cent). Harrison SR and Tamaschke R H U Statistics for Business, Economics and Management Prentice Hall 1993 Credit cannot be obtained both for this subject and for 316-129 Business Statistics or 617-160 Scientific Programming and Statistics or 617-170 Discrete Mathematics and Statistics. However, students who pass 617-160 or 617-170 plus another first year mathematics subject may substitute these subects for 316-130 Quantitative Methods.