Standards - Career & Technical Education

Use statistical analysis software to analyze transactional data.

Develop a plan for using transactional data to develop customer intelligence.

Use statistics appropriate to the shape of the data distribution to compare the center (median, mean) of two or more different data sets used in business.

Identify and use patterns in data values or range of data values to improve a business process.

Explain how categorical data may be used in decision-making in a service business to improve efficiency and profit.

Interpret relative frequencies in the context of the data.

Identify data on two quantitative variables on a scatter plot, and describe how the variables are related.

Describe how statistics are used to analyze and understand various business and economic problems and to formulate policies for economic growth .

Use diagrams, tables, organized lists, and area models to compute sales probability during peak season for a retail business.

Analyze concepts of probability associated with financial planning.

Describe how technology impacts all aspects of finance, from customer experience and operational efficiency to big data and analytics.

Apply problem-solving models and statistics to develop a business plan.

Gather and share information on the ethical and responsible use of statistical data in business.

Research career opportunities that require strong analytical skills.

Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.

Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.

Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.

Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.

Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.

Discuss and demonstrate ways to value diversity.

Explain the concepts and processes associated with successful entrepreneurial performance.

Identify political and economic factors that encourage and support entrepreneurship.

Identify and analyze characteristics of a successful entrepreneur, citing examples from the business world.

Discuss the entrepreneurial discovery process and the risks and rewards of being an entrepreneur.

Assess global trends and opportunities for establishing new businesses.

Identify possible opportunities for creating new businesses on the local, state, and/or national level.

Explain the fundamental concepts of business ownership.

Discuss the role of competition in a private, free-enterprise system.

Explain the effects of competition on buyers and sellers.

Compare and contrast types of business ownership, indicating their advantages and disadvantages for entrepreneurs.

Explain the concepts, systems, and tools needed to gather, access, synthesize, evaluate, and disseminate information for use in making business decisions.

Describe methods used to obtain marketing research data, including primary and secondary research.

Describe characteristics of effective data collection instruments.

Explain techniques for processing marketing information.

Describe methods used to interpret and present market segment information, including reports, charts, and graphs.