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; linear regression; and correlation analysis. Statistical software is used to analyze data throughout the course. (BUSI 2305 is included in the Business Field of Study.)
Upon successful completion of this course, students will:
Describe the random processes underlying statistical studies.
Calculate and use probability in solving business problems.
Compute descriptive statistics, construct graphs for data analysis, and interpret outcomes.
Compute and interpret measures of central tendency and dispersion.
Calculate expected values to evaluate multiple outcomes of a decision.
Describe, interpret, and apply discrete and continuous probability distributions.
Construct and interpret confidence intervals for means and proportions.
Formulate, perform, and interpret hypotheses tests (one and two population parameters).
Calculate, evaluate, and interpret simple linear correlation/regression.
Use statistical software to graph, compute, and analyze statistical data.
