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.
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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