Review of probability distributions of importance to economic problems: normal, binomial, Poisson. Multi-variate distributions.

Construction of index numbers: Time series analysis. Basic design of questionnaires and analysis of variance of experimental (or survey date-applications to economic data.

Tests of significance.

Correlation and regression (simple and multiple) analyses. Economic interpretation of regression coefficients of Demand and Supply functions.

Derivation of elasticities of demand and supply. Economic policy implications.