An introduction to descriptive and inferential statistics including regression and correlation analysis. Students will apply statistical techniques to learn how research and analysis is conducted in various business and economic settings. After completion of this course, students will be able to:
Employ methods of descriptive statistics to: summarize data, present data in graphical and other visual forms, and to identify measures of central tendencies, dispersion, and position.
Solve probability problems by categorizing them and then applying the correct theories including: sample space; simple, compound, complementary, independent and mutually exclusive events; conditional probabilities; binomial, normal, sampling, and Poisson distributions.
Calculate point estimates for and construct interval estimations of population mean, population standard deviation, and proportions.
Solve hypotheses tests involving the normal, student's t, chi-square, and F distributions as well as nonparametric tests; and interpret their findings.
Compare two population means and two population proportions using confidence intervals and hypothesis tests.
Solve problems of inference and prediction using linear correlation and regression techniques, and determine the strength of their predictions.