Data operations and transformations: Introductory concepts, the role of statistics, various types of data and the number system. Concepts underlying hyperbolic transformations of quantitative data. The relationship between the exponential and logarithmic functions in economic and related problems. Systems of equations in equilibrium. Additional concepts relating to data processing, factorial notation and absolute values.
Descriptive statistics – Univariate: Sampling and the collection of data, frequency distributions and graphical representations. Descriptive measures of location and dispersion. Correlation and regression: Least squares line, single log, double log and inverse transformations. Report writing and presentation. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques.