Business Statistics I | BUSM.X406

An introduction to the business use of statistical concepts and tools, this course covers the basic concepts of descriptive statistics--such as means and variances, uses of probability, and statistical inference--and their application to business processes and decisions. In addition, the course addresses the use of statistical estimation techniques, decision theory (hypothesis-testing process), and the use of regression and correlation.

Learning Outcomes

At the conclusion of the course, you should be able to:

  • Describe the basic concepts and procedures used in statistical analysis
  • Discuss the ethical dimensions of "big data analytics"
  • Explain and compute the basic processes of descriptive statistics and inferential statistics
  • Identify when to use a particular tool / concept within statistics to solve a real-world problem
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