BU403 Applied Business Statistics (3 cr.)

This course introduces students to descriptive and inferential statistics for use in business analytics and decision-making. 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. Examine 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 from a single sample selected from the 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. Utilize computer software to aid in analyzing data.
8. Explore ethical considerations pertaining to the usage and reporting of statistical data.