Measures of Central Tendency

These credentials document the mathematical competencies that support accounting and other business tasks. Strong skills in algebra and statistics greatly increase an accounting professional’s value. Algebra is particularly relevant to management accounting analysis in in which the accountant uses mathematical models to understand relationships and facilitate decision-making. Statistics plays an increasingly important role in accounting especially in this age of “Big Data.” As companies aim to leverage greater amounts of consumer data, a thorough grounding in statistics becomes an increasingly important skill. Additionally, accountants in an auditing role conduct reliability assessments when gathering evidence. Controllers and others use statistics to create analyses and forecasts, and managerial accountants leverage statistical models to gather evidence for policy recommendations. Specifically, this badge demonstrates the earner's ability to solve problems related to measures of central tendency.