Statistics for Business and Economics
COURSE DESCRIPTION AND LEARNING OUTCOMES
An introduction to descriptive and inferential statistics including regression and
correlation analysis. Students will apply statistical techniques to learn how research
and analysis is conducted in various business and economic settings. After completion
of this course, students will be able to:
- Employ methods of descriptive statistics to: summarize data, present data in graphical
and other visual forms, and to identify measures of central tendencies, dispersion,
- Solve probability problems by categorizing them and then applying the correct theories
including: sample space; simple, compound, complementary, independent and mutually
exclusive events; conditional probabilities; binomial, normal, sampling, and Poisson
- Calculate point estimates for and construct interval estimations of population mean,
population standard deviation, and proportions.
- Solve hypotheses tests involving the normal, student's t, chi-square, and F distributions
as well as nonparametric tests; and interpret their findings.
- Compare two population means and two population proportions using confidence intervals
and hypothesis tests.
- Solve problems of inference and prediction using linear correlation and regression
techniques, and determine the strength of their predictions.