UNIVERSITY OF GUELPH

ECON*2740: Economic Statistics

Comprehensive Revision Guide and Notes 2026

Part A: Topic Summary and Exam Tips

Part B: Exam Practice Questions and Answers

Part C: Sample Examination

Part D: Suggested Solutions to Exam Paper

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University of Guelph - ECON*2740: Economic Statistics

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ACADEMIC YEAR 2026 - 2027

University	University of Guelph
Study Level	Undergraduate
Course Code	ECON*2740
Course Name	Economic Statistics
Notes Title	Comprehensive Revision Guide and Notes
Page Length	61

Finding ECON 2740: Economic Statistics a lot to handle? This 61-page guide breaks the course into four clear parts so you can study efficiently and feel confident. It packs concise revision notes, exam-style questions, and step-by-step worked solutions that show exactly how to set up, solve, and check typical problems. You’ll also get practical hints, time-saving strategies, and test-day tips to avoid common mistakes. Use it to review key concepts, practise core techniques, and track what you still need to revise. Whether you’re catching up or aiming for top marks, this student-friendly resource keeps you focused on what matters most, right now.

This course is designed to prepare students both conceptually and mathematically for ECON*2560 or FIN*2000 (Theory of Finance) and ECON*3740 (Introduction to Econometrics). Topics include the summation operator, descriptive statistics, frequency distributions, probability and statistical independence, the binomial distribution, algebra of the expectation operator, discrete bivariate distributions, covariance, variance of a linear function of random variables, the normal and t distributions, sampling distributions, point and interval estimation, hypothesis testing, and an introduction to ordinary least squares.

Prerequisites:

ECON*1100
ECON*1050 or FARE*1040
One of the following: MATH1000, MATH1030, MATH1050, MATH1080, or MATH*1200

What You'll Learn:

Understand how to describe and summarize data.
Learn methods of data collection and sampling.
Grasp the basics of probability and random variables.
Explore discrete and continuous probability distributions.
Comprehend sampling distributions and their significance.
Gain an introduction to estimation techniques.
Understand the principles of hypothesis testing.
Apply inference methods to analyze one or two populations.
Learn simple linear regression and correlation analysis.

COURSE CODE	COURSE NAME
ACCT*1220	Introductory Financial Accounting
ACCT*1240	Applied Financial Accounting
ACCT*2230	Management Accounting
ACCT*3340	Intermediate Financial Accounting II
ACCT*3350	Taxation
ECON*1050	Introductory Microeconomics
ECON*1100	Introductory Macroeconomics
ECON*2310	Intermediate Microeconomics
ECON*2740	Economic Statistics
ECON*3740	Introduction to Econometrics
FIN*2000	Introduction to Finance
FIN*3000	Investments
FIN*3100	Corporate Finance
FIN*3200	Fundamentals of Derivatives
FIN*3500	Money, Credit, and the Financial System
HROB*2090	Individuals and Groups in Organizations
MCS*1000	Introductory Marketing
MCS*3040	Business and Consumer Law
STAT*2040	Statistics I
STAT*2060	Statistics for Business Decisions
STAT*4360	Applied Time Series Analysis

MITCA

Updated for 2026

University of Guelph - ECON*2740: Economic Statistics

INFORMATION

COURSE DESCRIPTION

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