MNS601 Statistics for Business

Lead Faculty: Dr. Reza Fadaei-Tehrani

Course Description

An examination of the increasing complexity of business problem-solving confronting today's managers, this course covers the role statistics and forecasting play in the business decision-making process, as well as the principles and steps involved in planning and conducting business research. Within the context of this course, students propose to study a situation that exists within an organizational setting and identify a faculty research advisor with knowledge in the focus area.

Learning Outcomes

  • Explain and apply descriptive statistics, probability theory, discrete random variable, continuous random variables, central limit theorem, and analysis of variance.
  • Perform hypothesis testing.
  • Explain and apply analysis of variance, linear regression analysis, correlation coefficient, and coefficient of determination.
  • Define a specific research problem, identify and defend the appropriate research design to answer the research question, and develop a basic outline for a research project in which the elements involved are explicitly identified.