We begin this course by learning how to describe the data in use. Then, we focus on applied probability theory, which enables us to understand the essence of statistical inference. And for the rest of the course, we explore multiple inference tools such as confidence interval estimation, hypothesis testing, and the analysis of variance. These tools help us make use of sample data to reach conclusions about population parameters.

We begin this course by learning how to describe the data in use. Then, we focus on applied probability theory, which enables us to understand the essence of statistical inference. And for the rest of the course, we explore multiple inference tools such as confidence interval estimation, hypothesis testing, and the analysis of variance. These tools help us make use of sample data to reach conclusions about population parameters.

Microeconomics is a branch of economics that studies the behavior of individuals and businesses and how decisions are made based on the allocation of limited resources. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determine the prices we pay.

Macroeconomics is a branch of economics that focuses on economic outcomes at the national level. Questions like: “Why are some countries rich while others are poor?” and “Why do some countries experience rapid growth while others stagnate?” are complicated. They are also best addressed after becoming familiar with a set of “tools” that facilitate a deep understanding of economic outcomes.