Statistics for Business
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.
- 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.
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