Business Statistics

Course Content from McGraw-Hill
Course Number: MAT150 Download Course Syllabus
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This online statistics course familiarizes students with the basic concepts of business statistics and provides a comprehensive overview of its scope and limitations. Students become familiar with statistical analysis of samples, compute the measures of location and dispersion, and interpret them for descriptive statistics.  Similar to other online college statistics courses, lessons demonstrate linear regression, multiple regression, correlation analysis, model building, model diagnosis, and time series regression using various models. The course also describes basic concepts of probability and applies the discrete and continuous distributions of probability. Other topics in this online statistics course include constructing a hypothesis on one and two samples, performing one-way and two-way analysis of variance, applying nonparametric methods of statistical analysis, and making decisions under risk or uncertainty.  If you've been considering an online college statistics course, this is the one.

  • Self Paced
  • Mathematics
  • Content by McGraw-Hill
Online Course
Business Statistics   +$59.00
eTextbook
MAT150 eTextbook (a $177.46 value)   +$0.00
Proctoring (included)
Tutoring (included)
Credits 3

12/9/14 by saeedmedeni

It's a great course to take

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10/10/14 by srinadh.vattipally

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10/10/14 by srinadh.vattipally

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9/22/14 by thedoulagirlsbs

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9/22/14 by thedoulagirlsbs

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9/12/14 by saeedmedeni

It's a great course to take

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9/5/14 by l_heugh

It was quite entertaining.

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7/28/14 by khushinderrandhawa

course is very descriptive . One can get in and out knowledge of Business Stats

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7/28/14 by khushinderrandhawa

course is very descriptive . One can get in and out knowledge of Business Stats

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7/17/14 by alexiten89

The content of the course is very complete. I would have liked for it to expand a little on some explanations. Also, the course should provide all charts and tables necessary. Many are not provided because they are in the book, but when I asked on the live chat if the book was necessary they said no. So, you should either expand the information provided or say from the start that the book is necessary. In some of the tests I couldn

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7/17/14 by alexiten89

The content of the course is very complete. I would have liked for it to expand a little on some explanations. Also, the course should provide all charts and tables necessary. Many are not provided because they are in the book, but when I asked on the live chat if the book was necessary they said no. So, you should either expand the information provided or say from the start that the book is necessary. In some of the tests I couldn

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7/6/14 by onasser

most of the online review for the chapters are too easy and do Not appear on the quizzes. You must read the textbook carefully and do the assignments.

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6/20/14 by sheridanj

Use a Professor , this class is difficult

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6/20/14 by sheridanj

Use a Professor , this class is difficult

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6/7/14 by onasser

most of the online review for the chapters are too easy and do Not appear on the quizzes. You must read the textbook carefully and do the assignments.

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5/9/14 by l_heugh

It was quite entertaining.

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8/29/13 by donaldl

It was a difficult course for me. I have not taken a Math course in several years. SL was definately the way to do it! I took my time and didn't move on until I knew the topic. I would recommend SL to anybody, especially students that are considering enrolling in an online college/university. It was a great way to practice managing my time and adjusting to learning independently.

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8/12/13 by charlotte.hermanto

To tell you the truth, the topics in this class was fun. It was also fairly easy for me since I've taken the course before in undergrad. But I'm quite disappointed on the final and the quizzes. Some of the quizzes questions are poorly written. Signs and pictures were missing from the quizzes. Some of the quizzes were graded incorrectly. This was also true with the finals. I have a very difficult time contacting the professor. At the very least the professor should be available for questions.

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5/20/13 by breitbachk

It is a basic statistics course with an emphasis on the business side

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4/29/13 by info

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2/17/13 by junius.cassady

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2/4/13 by roberts22829

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1/23/13 by anthonybartczak

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1/23/13 by reibling

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1/22/13 by jordan.reibling

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1/4/13 by kbowman5

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12/31/12 by frank

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12/14/12 by swim1champ

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12/9/12 by caralynpace

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11/29/12 by barnes.aggieland

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11/29/12 by barnes.aggieland

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11/23/12 by smackj1

Easy to understand what what was expected and easy to access content.

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11/22/12 by rrmartin2011

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11/22/12 by rrmartin2011

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11/19/12 by lissaradd

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11/19/12 by lissaradd

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11/16/12 by galvin42

Great delivery. The course breakdown was challenging but achievable.

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11/14/12 by jarsak01

I am a traveling nurse, private duty, so the ability to do the work and be mobile was good.

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11/14/12 by nlahaye80236

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11/14/12 by nlahaye80236

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11/11/12 by nicole s

I didn't like this course

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11/9/12 by smackj1

Easy to understand what what was expected and easy to access content.

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11/8/12 by brittanyreado

I enjoyed doing the review the most

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11/5/12 by rrh1010

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11/5/12 by rrh1010

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10/23/12 by galvin42

Great delivery. The course breakdown was challenging but achievable.

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10/20/12 by michaelnojlander

I like that I could study for a topic then take a quiz just like a regular college course, only without the tedious assignments and long wait times between taking tests. If I felt I really knew something I could take the exam that day. If I didnt I could continue to study with no pressure until I understood the material.

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10/19/12 by jarsak01

I am a traveling nurse, private duty, so the ability to do the work and be mobile was good.

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10/12/12 by nicole s

I didn't like this course

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10/4/12 by brittanyreado

I enjoyed doing the review the most

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9/15/12 by jessicadepweg

I liked learning how to use Excel.

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9/5/12 by terielliott04

I liked that I could do it at my own pace.

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9/5/12 by pcook86

I liked that I could do it on my own at my own pace.

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8/30/12 by bmorse2011

I liked that I could take it at my own pace.

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8/21/12 by michaelnojlander

I like that I could study for a topic then take a quiz just like a regular college course, only without the tedious assignments and long wait times between taking tests. If I felt I really knew something I could take the exam that day. If I didnt I could continue to study with no pressure until I understood the material.

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7/25/12 by TNERING

I liked the ability to go at my own rate. The text book is well written. The overall organization of the course is good.

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7/16/12 by darcissa

I liked the challenging topics

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6/30/12 by LYNDA300

I liked the fact that it is purely self-paced because I am one of those students who have to read things repeatedly before the information is grasped and will still have trouble with the information.

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6/5/12 by knuako

I liked the lesson layouts and the book.

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6/5/12 by knuako

I liked the lesson layouts and the book.

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6/2/12 by amama68

I liked the lesson presentations and review elements

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6/1/12 by mistyhassell

I liked the lesson presentations, easy to follow

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5/30/12 by jessicadepweg

I liked learning how to use Excel.

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5/7/12 by terielliott04

I liked that I could do it at my own pace.

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5/6/12 by pcook86

I liked that I could do it on my own at my own pace.

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4/27/12 by imdadmir

I liked the tutoring availability because it helped me whenever I needed it.

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4/26/12 by rlbuz131

I liked the variety of learning methods to utilize, visual, powerpoint, audio, etc.

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4/24/12 by angelaellingwood

I liked the way the course was organized. I liked the example multi-media videos which take you through different topics step by step.

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4/22/12 by bmorse2011

I liked that I could take it at my own pace.

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4/16/12 by jenna.grile

I liked working at my own pace and getting this course done quickly.

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4/1/12 by TYESCRAZYGIRL

I must admit this course was a bit boring for me. There was nothing wrong with the course format or delivery at all. It was just that I found myself struggling with the textbook sometimes because I couldn't get into it. It's hard to relate to a course when you aren't really into it. I did get through it though and I passed so I am happy.

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3/25/12 by lissaradde

I really liked the self-paced theory in the course. The you-tube videos were great and did a good job of applying the material.

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3/23/12 by ddreher

I think my experience was partly my fault, because i had never taken an online course and Business Statistics was one that i should have never taken online. I was never able to use my free tutoring hours because I could never get on the Black board. All of the quizes that I took, I wanted to get the answers so that I could review and see what I did wrong, which I think would have been extremely helpful to me. I would have never and do not know anyone that I would have shared the answers with.

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3/21/12 by donny702

I thought it was pretty tough.

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3/4/12 by mgewart

It was fast and in my budget

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2/23/12 by khoriahunter

One of my academic strengths is test taking, therefore I appreciated that this course utilized test-based evaluation for grading purposes.

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2/18/12 by eric.ian.andersen

Self-paced. Good lectures.

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2/10/12 by michele

The book was great and the slides were marginally helpful.

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1/30/12 by marvin

the easy access was great

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1/29/12 by TNERING

I liked the ability to go at my own rate. The text book is well written. The overall organization of the course is good.

Content Rating
Overall Rating
1/28/12 by carolmcrn

The everyday examples the course lessons provided and the links for additional topic material not stated in the lesson presentation. These helped to make the infirmation more understandable and effective to learning the material.

Overall Rating
Content Rating
1/28/12 by smoogley

The exam was nothing like what I expected. I didnt think there was going to be so much that we had to calculate. It was nothing like the quizzes. I didnt pass for that reason. I did study all day yesterday and all week. Its not right.

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1/24/12 by lwhitehe

The instructional videos were extremely helpful as were the tutorial videos walking students through specific problems. I was able to make more sense of what I read in the text. This was clear and easy to understand for the most part though I find the subject matter of statistics somewhat difficult.

Overall Rating
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1/12/12 by pilotkeiko

The powerpoint presentations associated with each course were very helpful to review key concepts prior to each exam.

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1/11/12 by nemesis0588

The presentations were extremely helpful, and kept me interested.

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1/7/12 by darcissa

I liked the challenging topics

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Overall Rating
1/5/12 by danfarrer

The self-paced approach was my reason for taking this class.

Overall Rating
Content Rating
11/30/11 by LYNDA300

I liked the fact that it is purely self-paced because I am one of those students who have to read things repeatedly before the information is grasped and will still have trouble with the information.

Content Rating
Overall Rating
10/3/11 by knuako

I liked the lesson layouts and the book.

Content Rating
Overall Rating
10/2/11 by knuako

I liked the lesson layouts and the book.

Content Rating
Overall Rating
9/25/11 by amama68

I liked the lesson presentations and review elements

Content Rating
Overall Rating
9/23/11 by mistyhassell

I liked the lesson presentations, easy to follow

Content Rating
Overall Rating
7/3/11 by imdadmir

I liked the tutoring availability because it helped me whenever I needed it.

Content Rating
Overall Rating
6/30/11 by rlbuz131

I liked the variety of learning methods to utilize, visual, powerpoint, audio, etc.

Content Rating
Overall Rating
6/25/11 by angelaellingwood

I liked the way the course was organized. I liked the example multi-media videos which take you through different topics step by step.

Content Rating
Overall Rating
6/6/11 by jenna.grile

I liked working at my own pace and getting this course done quickly.

Content Rating
Overall Rating
5/2/11 by TYESCRAZYGIRL

I must admit this course was a bit boring for me. There was nothing wrong with the course format or delivery at all. It was just that I found myself struggling with the textbook sometimes because I couldn't get into it. It's hard to relate to a course when you aren't really into it. I did get through it though and I passed so I am happy.

Content Rating
Overall Rating
4/15/11 by lissaradde

I really liked the self-paced theory in the course. The you-tube videos were great and did a good job of applying the material.

Content Rating
Overall Rating
4/11/11 by ddreher

I think my experience was partly my fault, because i had never taken an online course and Business Statistics was one that i should have never taken online. I was never able to use my free tutoring hours because I could never get on the Black board. All of the quizes that I took, I wanted to get the answers so that I could review and see what I did wrong, which I think would have been extremely helpful to me. I would have never and do not know anyone that I would have shared the answers with.

Content Rating
Overall Rating
4/5/11 by donny702

I thought it was pretty tough.

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3/18/11 by ben.imdieke

 

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3/18/11 by bree1137

 

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3/17/11 by carolmcrn

 

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3/17/11 by craig-laura

 

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3/16/11 by damian.k.baker

 

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3/16/11 by eldorito

 

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3/15/11 by FLOYDDELL.WILSON3

 

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3/15/11 by gqbrusewitz

 

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3/15/11 by griff.powerhouse

 

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3/14/11 by itssssopink

 

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3/14/11 by jenntalley69

 

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3/13/11 by jkresch13

 

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3/13/11 by joseph_alvarez_

 

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3/12/11 by jwerth22

 

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3/12/11 by karmarsal

 

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3/12/11 by kevin.v.mitchell

 

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3/11/11 by kjrogers5

 

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3/11/11 by lmritenour

 

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3/10/11 by methibosheth

 

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3/10/11 by ocappraiser

 

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3/9/11 by rabbibelsky94

 

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3/9/11 by rosekanarek

 

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3/9/11 by seanpatrickfay

 

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3/8/11 by vchart82

 

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3/8/11 by wjbarnes11

 

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3/7/11 by wood.tyler10

 

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2/25/11 by mgewart

It was fast and in my budget

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Overall Rating
2/2/11 by khoriahunter

One of my academic strengths is test taking, therefore I appreciated that this course utilized test-based evaluation for grading purposes.

Content Rating
Overall Rating
1/21/11 by eric.ian.andersen

Self-paced. Good lectures.

Content Rating
Overall Rating
1/1/11 by michele

The book was great and the slides were marginally helpful.

Content Rating
Overall Rating
12/6/10 by marvin

the easy access was great

Content Rating
Overall Rating
12/2/10 by carolmcrn

The everyday examples the course lessons provided and the links for additional topic material not stated in the lesson presentation. These helped to make the infirmation more understandable and effective to learning the material.

Content Rating
Overall Rating
12/1/10 by smoogley

The exam was nothing like what I expected. I didnt think there was going to be so much that we had to calculate. It was nothing like the quizzes. I didnt pass for that reason. I did study all day yesterday and all week. Its not right.

Content Rating
Overall Rating
11/23/10 by lwhitehe

The instructional videos were extremely helpful as were the tutorial videos walking students through specific problems. I was able to make more sense of what I read in the text. This was clear and easy to understand for the most part though I find the subject matter of statistics somewhat difficult.

Content Rating
Overall Rating
10/26/10 by pilotkeiko

The powerpoint presentations associated with each course were very helpful to review key concepts prior to each exam.

Content Rating
Overall Rating
10/22/10 by nemesis0588

The presentations were extremely helpful, and kept me interested.

Content Rating
Overall Rating
10/9/10 by danfarrer

The self-paced approach was my reason for taking this class.

Content Rating
Overall Rating
11/16/08 by ben.imdieke

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Overall Rating
11/15/08 by bree1137

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11/14/08 by carolmcrn

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11/13/08 by craig-laura

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11/12/08 by damian.k.baker

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11/11/08 by eldorito

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11/10/08 by FLOYDDELL.WILSON3

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11/9/08 by gqbrusewitz

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11/8/08 by griff.powerhouse

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11/7/08 by itssssopink

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11/6/08 by jenntalley69

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11/5/08 by jkresch13

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11/4/08 by joseph_alvarez_

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11/3/08 by jwerth22

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11/2/08 by karmarsal

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11/1/08 by kevin.v.mitchell

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10/31/08 by kjrogers5

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10/30/08 by lmritenour

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10/29/08 by methibosheth

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10/28/08 by ocappraiser

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10/27/08 by rabbibelsky94

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10/26/08 by rosekanarek

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10/25/08 by seanpatrickfay

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10/24/08 by vchart82

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10/23/08 by wjbarnes11

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10/22/08 by wood.tyler10

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Course Objectives

After completing this course, students will be able to:

  • Define statistics and identify its scope and limitations.
  • Describe and apply the basic concepts in statistics.
  • Apply the sampling methods and the Central Limit Theorem to perform statistical analyses of samples and to predict population behavior.
  • Compute and interpret measures of location and dispersion.
  • Represent the statistical data in different forms and interpret the different representations.
  • Perform multiple regression and correlation analysis.
  • Describe the basic concepts of probability.
  • Describe and apply the discrete and continuous distributions of probability.
  • Conduct hypothesis tests based on one or two samples.
  • Perform one-way and two-way analyses of variance (ANOVA).
  • Apply nonparametric methods of statistical analysis.
  • Perform time series regression using various models.
  • Perform model building and model diagnoses.

Topic Lesson Topic Subtopics Objectives
1 Statistics: An Introduction and Basic Concepts
  • Use of Statistics
  • Types of Variables
  • Levels of Measurement
  • Ethics in Statistics
  • Software and Statistics
  • Graphical Displays of Categorical Data
  • Identify and describe three interrelated features of how economists think about the world.
  • Differentiate between the word "statistics" and the science of statistics.
  • Describe the importance of statistics and situations where statistics are used in business and everyday life; identify business situations in which statistics can be used appropriately and inappropriately.
  • Identify qualitative versus quantitative and discrete versus continuous variables.
  • Discuss the levels of measurement and choose the most appropriate level of measurement for a specified situation.
  • Explain the role of computer software in statistical analysis and identify some of the most popular software packages.
  • Construct bar charts to display categorical data.
2 Sampling Methods
  • Sampling a Population
  • Sampling Errors
  • Define the terms population and sample.
  • Explain the need for sampling.
  • Use a simple random sampling technique to select members of the general populate.
  • Understand more complex sampling techniques, such as stratified, cluster, and systematic random sampling.
  • Identify sampling errors in a given situation.
3 Descriptive Statistics: Numerical Measures
  • Arithmetic Mean
  • Geometric Mean
  • Median and Mode
  • Measures of Dispersion
  • Chebyshev's Theorem and the Empirical Rule
  • Using Software to Compute Descriptive Statistics
  • Calculate the arithmetic mean for a given set of data.
  • Calculate the geometric mean for a given set of data.
  • Calculate the median and mode for a given set of data.
  • Compute and interpret the range, mean deviation, variance, and standard deviation for data observations.
  • Interpret data using Chebyshev's theorem and the Empirical rule.
  • Understand how software can be used in computing various measures of location and dispersion.
4 Descriptive Statistics: Representational
  • Dot Plot, Stem Plot, and Histogram
  • Quartiles, Deciles, and Percentiles
  • Skewness
  • Bivariate Data
  • Create and interpret dot plot, box plot, and scatter diagrams.
  • Define and compute quartiles, deciles, and percentiles.
  • Compute and interpret the coefficient of skewness.
  • Construct a contingency table.
5 Probability
  • Probability Approaches
  • Probability Calculations
  • Tools of Analysis
  • Computing the Number of Possible Outcomes
  • Discuss the objective and subjective approaches to probability analysis.
  • Calculate probability using the rules of addition and multiplication.
  • Use and interpret contingency tables, Venn diagrams, and tree diagrams.
  • Compute the number of possible outcomes for combinations and permutations using formulae and Excel functions.
6 Discrete and Continuous Probability Distributions
  • Discrete Probability Distributions
  • Binomial Probability Distributions
  • Poisson Probability Distributions
  • Uniform Probability Distributions
  • Normal Probability Distributions
  • Sampling Distribution of the Sample Mean
  • Central Limit Theorem
  • Explain the difference between discrete and continuous distribution.
  • Compute the mean and the standard deviation for a uniform distribution.
  • Calculate the mean, variance, and standard deviation of a probability distribution.
  • Compute probabilities using the binomial probability distribution.
  • Compute probabilities using the uniform distribution.
  • Calculate areas under a normal curve using the Empirical Rule.
  • Compute probabilities using the Poisson probability distribution.
  • Compute probabilities using the normal probability distribution.
  • Select a sample and construct a sampling distribution of the mean.
  • Explain the importance of the central limit theorem and how it applies to sample distributions.
7 Using Confidence Intervals in the Sampling Process
  • Large Sample Confidence Intervals
  • Small Sample Confidence Intervals
  • Proportions
  • Sample Size
  • Define the terms confidence interval, point estimate, and degrees of freedom, and explain how they are involved in the sampling process.
  • Demonstrate the ability to compute a confidence interval for a large sample experiment.
  • Compute a confidence interval for a small sample experiment.
  • Compute a confidence interval for a proportion.
  • Determine an appropriate sample size for small, large, and proportion experiments.
8 Tests of Hypothesis
  • Hypothesis Testing: An Introduction
  • Decision Making in Hypothesis Testing
  • Hypothesis Testing with Proportions
  • Two-Sample Test of Hypothesis
  • Formulate null and alternate hypotheses, and test the hypothesis using the five steps of the hypothesis testing procedure.
  • Discuss Type I and Type II errors on a test of hypothesis.
  • Perform a one-tailed and a two-tailed test of hypothesis.
  • Perform a test of hypothesis on the difference between two population means using the z and t statistics.
  • Perform a test of hypothesis on a population proportion using the z statistic.
9 Regression Analysis
  • Correlation Analysis
  • Coefficient of Correlation
  • Regression Analysis
  • Confidence Interval and Prediction Intervals
  • ANOVA Table
  • Discuss the difference between correlation and causation.
  • Analyze the correlation between two variables in specified situations.
  • Calculate and interpret the coefficient of correlation, the coefficient of determination, and the standard error.
  • Calculate and interpret the linear regression line.
  • Construct and interpret a confidence interval and prediction interval for a dependent variable.
  • Use an ANOVA table data to compute statistics.
10 Multiple Regression Analysis
  • Multiple Regression Analysis Equation
  • Analyzing ANOVA Table Output
  • Analyzing Individual Independent Variables
  • Analyze the relationships between several independent variables and a dependent variable.
  • Test to determine whether the regression coefficient for each independent (or explanatory) variable has a significant influence upon the dependent variable.
  • Calculate and interpret multiple regression analysis.
  • Compute variance of regression using the standard error of estimate and the ANOVA table.
  • Calculate and interpret the coefficient of determination and the correlation matrix.
  • Identify the violation of assumptions: homoscedasticity and autocorrelation.
11 Analysis of Variance
  • Using the F Distribution in Variance Analysis
  • Analysis of Variance (ANOVA)
  • Computing the Analysis of Variance (ANOVA) - Sum of Squares
  • Analyzing the Variance
  • Use of Software in Variance Analysis
  • Discuss the general idea of analysis of variance and analyze the given F distribution.
  • Test a hypothesis to determine whether the variances of two populations are equal.
  • Test a hypothesis about three or more treatment means and develop confidence intervals for the difference between treatment means.
  • Perform an analysis of variance (ANOVA).
  • Understand how to use statistical software in variance analysis.
12 Nonparametric Methods
  • Chi-Square Test
  • Contingency Table Analysis
  • Test a hypothesis comparing an observed set of frequencies to an expected set of frequencies using the chi-square test.
  • Identify the limitation of the chi-square test in a specified situation.
  • Analyze relationships in statistical data using a contingency table.
13 Process Improvement Using Control Charts
  • Statistical Process Control
  • Creating Control Charts
  • Analyzing Control Charts
  • Natural Tolerance Limits
  • p Chart
  • Identify the causes of process variation and apply statistical process control to reduce process variation.
  • Sample a process and use rational sub-grouping to control process.
  • Use statistical software to create X-bar and R-charts.
  • Interpret information presented in control charts and R-charts to identify assignable causes and analyze patterns.
  • Calculate and analyze the upper and lower natural tolerance limits to evaluate whether a process is capable of meeting specifications.
  • Construct p chart for fraction nonconforming.
14 Review
  • Course Review
None

Successful completion of Introductory and/or Intermediate Algebra courses is recommended before taking Business Statistics.

The required eTextbook for this course is included with your course purchase at no additional cost. More information on StraighterLine eTextbooks

Prefer the hard copy? Simply purchase from your favorite textbook retailer; you will still get the eTextbook for free.

This course does not require a text.

StraighterLine provides a percentage score and letter grade for each course. A passing percentage is 70% or higher. If you have chosen a Partner College to award credit for this course, your final grade will be based upon that college's grading scale. Only passing scores will be considered by Partner Colleges for an award of credit.

There are a total of 1000 points in the course:

Topic Assessment Points Available
2 Graded Quiz 1 115
4 Graded Quiz 2 115
6 Graded Quiz 3 115
8 Graded Quiz 4 115
10 Graded Quiz 5 115
12 Graded Quiz 6 115
14 Graded Final Exam 310

Final Proctored Exam

The final exam is developed to assess the knowledge you learned taking this course. All students are required to take an online proctored final exam in order complete the course and be eligible for transfer credit.

Learn more about Proctored Exams

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