Foundation of Statistics

To recall and define key statistical concepts with specific relevance to real-life data.
To articulate the critical role of statistics in data analysis and its significance in interpreting and deriving insights from business data.
To employ statistical methods to systematically collect, categorize, and accurately present accounting and financial data, utilizing appropriate data presentation techniques and implementing effective sampling methods for robust analysis.
To perform detailed analysis of business data using basic statistical measures, and critically evaluate the suitability of various sampling techniques within diverse accounting and financial contexts.
To critically evaluate the effectiveness of data collection methods, the reliability of statistical results, and the impact of sampling errors on financial analysis and strategic decision-making processes.