This course aims to provide an opportunity for students to understand and appreciate the broad use of statistics and probability in business world. The objectives are to demonstrate how to summarize, present and analyse data using commonly available statistical computing tools and to introduce the basic concepts of probability as well as the mathematics of probability theories. The emphasis here is on developing students’ ability to effectively choose the correct statistical techniques and communicate statistical data and results of analysis. Topics include: Organization and Presentation of Data, Descriptive Statistics, Fundamentals of Probability, Probability Distributions and Probability Densities, Mathematical Expectations, Sampling Distributions.

Students completing this course should be able to: 1. Select, analyze, and interpret appropriate quantitative data used in everyday life in numerical and graphical format; 2. Identify and apply appropriate probability theories of quantitative problems solving in theoretical and practical applications; 3. Dentify and apply discrete and continuous probability distributions to various business problems, particularly those in gaming industry; 4. Comprehend the context of sampling and explain the rationale of statistical inference; 5. Measure and interpret the statistical relationship that exists between two variables.