(a) General requirements. This course is recommended for students in Grades 11 and 12. Prerequisite: Algebra II. This course satisfies a high school mathematics graduation requirement. Students shall be awarded one credit for successful completion of this course.
(b) Introduction.
  (1) Career and technical education instruction provides content aligned with challenging academic standards and relevant technical knowledge and skills for students to further their education and succeed in current or emerging professions.
  (2) The Finance Career Cluster focuses on planning, services for financial and investment planning, banking, insurance, and business financial management.
  (3) Statistics and Business Decision Making is an introduction to statistics and the application of statistics to business decision making. Students will use statistics to make business decisions. Students will determine the appropriateness of methods used to collect data to ensure conclusions are valid.
  (4) The process standards describe ways in which students are expected to engage in the content. The placement of the process standards at the beginning of the knowledge and skills listed for each grade and course is intentional. The process standards weave the other knowledge and skills together so that students may be successful problem solvers and use mathematics efficiently and effectively in daily life. The process standards are integrated at every grade level and course. When possible, students will apply mathematics to problems arising in everyday life, society, and the workplace. Students will use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution. Students will select appropriate tools such as real objects, manipulatives, paper and pencil, and technology and techniques such as mental math, estimation, and number sense to solve problems. Students will effectively communicate mathematical ideas, reasoning, and their implications using multiple representations such as symbols, diagrams, graphs, and language. Students will use mathematical relationships to generate solutions and make connections and predictions. Students will analyze mathematical relationships to connect and communicate mathematical ideas. Students will display, explain, or justify mathematical ideas and arguments using precise mathematical language in written or oral communication.
  (5) Students are encouraged to participate in extended learning experiences such as career and technical student organizations and other leadership or extracurricular organizations.
  (6) Statements that contain the word "including" reference content that must be mastered, while those containing the phrase "such as" are intended as possible illustrative examples.
(c) Knowledge and skills.
  (1) The student demonstrates professional standards/employability skills as required by business and industry. The student is expected to:
    (A) demonstrate an understanding of appropriate communication with customers, employers, and coworkers through verbal, nonverbal, or digital means;
    (B) demonstrate an understanding of the use of business etiquette;
    (C) demonstrate an understanding of appropriate customer service such as building customer relationships and resolving customer complaints; and
    (D) demonstrate an understanding of ethical and legal issues in business.
  (2) The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:
    (A) apply mathematics to problems arising in everyday life, society, and the workplace;
    (B) use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution;
    (C) select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems;
    (D) communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate;
    (E) create and use representations to organize, record, and communicate mathematical ideas;
    (F) analyze mathematical relationships to connect and communicate mathematical ideas; and
    (G) display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication.
  (3) The student uses career planning concepts, tools, and strategies to explore a career in the area of risk management. The student is expected to:
    (A) compare and contrast the fundamentals of risk management, including the reasons for and benefits of risk management;
    (B) discuss the role of ethics and responsibility in risk management; and
    (C) compare and contrast roles, responsibilities, licensing, and certification programs of careers related to managing and analyzing personal and corporate financial portfolios such as financial planners, financial managers, financial analysts, controllers, risk managers, cash managers, treasurers, and chief financial officers.
  (4) The student understands and demonstrates the use of statistics in business areas, including accounting, economics, finance, management, and marketing. The student is expected to:
    (A) evaluate the use of statistics in accounting such as forecasting consumption, earnings, cash flows, book value, and allowance for doubtful accounts;
    (B) evaluate how statistics are used in economics such as reports for labor market, trade balance, Gross Domestic Product, unemployment, and consumer spending;
    (C) evaluate how statistics are used in finance such as the use by financial intermediaries or in the evaluation of investments, securities, derivatives, futures, or options;
    (D) evaluate how statistics are used in management such as in the evaluation of production efficiency, production quantity, quality control, workforce trends, staffing issues, and employee satisfaction; and
    (E) evaluate how statistics are used in marketing such as reports for projected market share, advertising effectiveness, sales effectiveness, brand loyalty, spending habits, and customer satisfaction.
  (5) The student understands and demonstrates the ethical and responsible use of statistics in business. The student is expected to evaluate how statistics are used in accounting, economics, finance, management, and marketing.
  (6) The student evaluates risk-management strategies and techniques in corporate finance to maximize profit and minimize loss. The student is expected to:
    (A) manage risk to protect business stability;
    (B) analyze the relationship between risk management and operations; and
    (C) evaluate various risk-management strategies and techniques, including the use of insurance, stock, derivatives, and options.
  (7) The student evaluates financial information using statistical analysis to assist business decision making using appropriate software. The student is expected to:
    (A) communicate the value of statistical information in a variety of business disciplines and environments;
    (B) assess statistical information portrayed in areas such as advertising, investments and securities, human resource management, and economics;
    (C) generate a spreadsheet to collect, collate, organize, and analyze quantitative data; and
    (D) use spreadsheets and graphical techniques to present data in a manner that is understood by and meaningful to colleagues and clients.
  (8) The student understands and demonstrates the defining and collecting of data. The student is expected to:
    (A) define the types of variables and the measurement scales of variables;
    (B) understand the collecting of data and its source;
    (C) understand populations and samples;
    (D) understand sampling methods; and
    (E) understand and define survey error types.
  (9) The student will understand and demonstrate the organization and visualization of data. The student is expected to organize and visualize categorical data and numerical data.
  (10) The student understands and demonstrates the use of descriptive measures. The student is expected to:
    (A) understand and calculate the central tendency of the data set using mean, median, and mode;
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