BUSI 2305 - Business Statistics

Credit Hours: 3
Contact Hours - Lecture: 3
Descriptive and inferential statistical techniques for business and economic decision-making. Topics include the collection, description, analysis, and summarization of data; probability; discrete and continuous random variables; the binomial and normal distributions; sampling distributions; tests of hypotheses; estimation and confidence intervals; linear regression; and correlation analysis. Statistical software is used to analyze data throughout the course. (BUSI 2305 is included in the Business Field of Study.) CIP Code: (5213025104)
Prerequisite: MATH 1314 or MATH 1324; BCIS 1305.
Student Learning Outcomes
1. - Describe the random processes underlying statistical studies. 2. - Calculate and use probability in solving business problems. 3. - Compute descriptive statistics, construct graphs for data analysis, and interpret outcomes. 4. - Compute and interpret measures of central tendency and dispersion. 5. - Calculate expected values to evaluate multiple outcomes of a decision. 6. - Describe, interpret, and apply discrete and continuous probability distributions. 7. - Construct and interpret confidence intervals for means and proportions. 8. - Formulate, perform, and interpret hypotheses tests (one and two population parameters). 9. - Calculate, evaluate, and interpret simple linear correlation/regression. 10. - Use statistical software to graph, compute, and analyze statistical data.