Numerical solution of equations using computer-related procedures. Focuses on applications to various subject areas. Applications of these topics and computer solutions of selected problems are an integral part of the course. MA 111 or equivalent Relates to problems of a probabilistic nature in business, management science, the social sciences, economics, mathematics and the physical sciences. Includes such topics as permutations, combinations, probability for discrete sample spaces, mutually exclusive and independent events, conditional probability, random drawings, the binomial probability distribution, Bayes' Theorem, random variables and their probability functions, mathematical expectation, Markov chains and decision-making.
Simulation is used where appropriate.
An introduction to advanced techniques used in statistical analysis of business data. Topics include multiple regression and correlation analysis, analalysis of variance, contingency tables, and chi square testing for independence. Although the emphasis will be on the application of these techniques, the mathematical foundations will be discussed. Topics included are designs of random, stratified, cluster and systematic sampling. Applications to problems of accounting and auditing, inventory management, marketing, production planning and quality control are considered.