In this unit students will identify and implement appropriate statistical procedures to assist managers in making sound decisions in the face of uncertainty. The unit initially concentrates on developing an understanding of averages, variability and probability along with the various models of data behaviour in business enabling managers to choose between different investment strategies. From here the students learn the different methods of sampling, and an understanding of inferential statistics and an appreciation of estimates of the population parameters is established through confidence intervals. This leads to the main themes of the unit including hypothesis testing of means, proportions, variances and categorical responses and finally regression and multiple regression analysis. These techniques are used to authenticate the model, and to estimate and predict with confidence future outcomes for business. These applications are all applied to real data sets.