BU403 Applied Business Statistics (3 cr.)

This course introduces students to descriptive and inferential statistics for use in business-related applications. Measures of central tendency and dispersion, simple probability, data analysis, and statistical inference are examined. The use of computer software for analyzing statistical data is addressed.

Upon completion of this course students are expected to be able to do the following:

1. Extract information from sample data through both graphical and numerical methods.
2. Understand how probability can be used to make an inference about a population from information contained in a sample.
3. Determine the probabilities associated with both discrete and continuous random variables.
4. Estimate population means and proportions on a single sample selected from population of interest.
5. Use the sampling distribution of a sample statistic to assess the reliability of the estimate.
6. Utilize sample data from a variety of resources to make estimates, decisions, or generalizations about a larger set of data.
7. Identify various software resources to aid in analyzing data.