BUSI-2305 Business Statistics

Descriptive and inferential statistical techniques for business and economic decision-making. Topics include the collection, description, analysis, and summarization of data, probability, discrete and continuous random variables; the binomial and normal distributions; sampling distributions; tests of hypotheses; estimation and confidence intervals; line arregression; and correlation analyisis. Statistical software isused to analyze data through out the course. Lec 3, Cr 3

Credits

3

Prerequisite

MATH-1314 or MATH-1324, BCIS-1305

Outcomes

  1. Describe the random processes underlying statistical studies.
  2. Calculate and use probability in solving business problems.
  3. Compute descriptive statistics, construct graphs for data analysis, and interpret outcomes.
  4. Compute and interpret measures of central tendency and dispersion.
  5. Calculate expected values to evaluate multiple outcomes of a decision.
  6. Describe, interpret, and apply discrete and continuous probability distributions.
  7. Construct and interpret confidence intervals for means and proportions.
  8. Formulate, perform, and interpret hypotheses tests (one and two population parameters).
  9. Calculate, evaluate, and interpret simple linear correlation/regression.
  10. Use statistical software to graph, compute, and analyze statistical data.