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Apr 20, 2024
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BUSI 2305 - Business Statistics3 credit hours. 3 lecture hours.
Prerequisites: MATH 1314 College Algebra or MATH 1324 Mathematics for Business & Social Sciences.
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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.)
Measurable Learning Outcomes:
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.
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