*On its own, STK 113 and 123 will not be recognised for degree purposes, but exemption will be granted for STK 110.
Data operations and transformations: Introductory concepts, the role of statistic, various types of data and the number system. Concepts underlying linear, quadratic, exponential, hyperbolic, logarithmic transformations of quantitative data, graphical representations, solving of equations, interpretations. Determining linear equations in practical situations. Characteristics of logarithmic functions. The relationship between the exponential and logarithmic functions in economic and related problems. Systems of equations in equilibrium. Additional concepts relating to data processing, functions and inverse functions, sigma notation, factorial notation, sequences and series, inequalities (strong, weak, absolute, conditional, double) and absolute values. Descriptive statistics – Univariate: Sampling and the collection of data, frequency distributions and graphical representations. Descriptive measures of location and dispersion. Probability: Introductory probability theory. Theoretical probability distributions. Identification, use, evaluation and interpretation of statistical computer packages and statistical techniques. The weekly one hour practical is presented during the last seven weeks of the semester.