Business Statistics

Business Statistics

This course explores the elements of probability, probability distributions, estimation and confidence intervals, tests of significance and hypotheses, linear regression and correlation, time-series analysis, and principles of index numbers. Applications to the analysis and decision-making aspects of daily business problems also are covered.

Descriptive and summary statistics, probability, statistical sampling and sampling distributions, interval estimation, hypothesis testing on one population, Chi-square analysis and simple correlation. Prerequisites: math and computer proficiency.

This course focuses on descriptive statistics and statistical inference. Topics include data, basic methodologies for gathering data, populations, samples, descriptive measures, probability, sampling distributions, point and interval estimates, hypothesis testing, statistical inference and bivariate data.

Gain a practical understanding of how statistics operates within the business world, and learn how to assess the legitimacy and significance of statistical information.Explore the basics of business statistics in which methods of collection, organization, presentation, analysis, and interpretation of quantitative data are used as tools in effective business decision-making.Topics include: measures of central tendency and dispersion, probability theory, probability distributions, sampling, sampling distribution, estimation, hypothesis testing, correlation, and regression.

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