Become familiar with business statistics concepts while gaining a a comprehensive overview of its scope and limitations. Topics covered include constructing a hypothesis on one and two samples.

What you’ll learn

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## \$79

Plus membership

3 Credits

##### All courses include:

eTextbooks

2 to 3-day turnaround for grading

On-demand tutoring & writing center

Student support 7 days a week

## \$79

Plus membership

3 Credits

##### All courses include:

eTextbooks

2 to 3-day turnaround for grading

On-demand tutoring & writing center

Student support 7 days a week

## \$79

Plus membership

3 Credits

|
##### ACE Approved 2021

This course familiarizes you with the basic concepts of business statistics while providing a comprehensive overview of its scope and limitations.

### What You'll Learn

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 linear regression and correlation analysis.

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 model building and model diagnoses.

### Earn College Credit That Will Transfer

Transfer into over 3000+ institutions that accept ACE courses or transfer directly into 150+ partner schools.

MAT150

|

Throughout the course you will perform statistical analyses of samples, compute the measures of location and dispersion, and interpret these measures for descriptive statistics. Business Statistics also reviews linear regression, multiple regression, and correlation analysis along with model building, diagnosis, and time series regression.

Prerequisites

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

Topic Subtopics
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
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
Descriptive Statistics: Representational
• Dot Plot, Stem Plot, and Histogram
• Quartiles, Deciles, and Percentiles
• Skewness
• Bivariate Data
Probability
• Probability Approaches
• Probability Calculations
• Tools of Analysis
• Computing the Number of Possible Outcomes
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
Sampling Methods and the Central Limit Theory
• Sampling a Population
• Sampling Errors
• Central Limit Theorem
Using Confidence Intervals in the Sampling Process
• Large Sample Confidence Intervals
• Small Sample Confidence Intervals
• Proportions Sample Size
Tests of Hypothesis
• Hypothesis Testing: An Introduction
• Decision Making in Hypothesis Testing
• Hypothesis Testing with Proportions
• Two-Sample Test of Hypothesis
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
Regression Analysis
• Correlation Analysis
• Coefficient of Correlation
• Regression Analysis
• Confidence Interval and Prediction Intervals
• ANOVA Table
Multiple Regression Analysis
• Multiple Regression Analysis Equation
• Analyzing ANOVA Table Output
• Analyzing Individual Independent Variables
Nonparametric Methods
• Chi-Square Test
• Contingency Table Analysis
Process Improvement Techniques
• Statistical Process Control
• Creating Control Charts
• Analyzing Control Charts
• Natural Tolerance Limits
• p Chart

Your score provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.

Assignments for this course include:

• 1 Midterm Exam

The required eTextbook for this course is included with your course purchase at no additional cost.

Lind, Douglas A., Marchal, William A. and Samuel A. Wathen. Basic Statistics for Business and Economics, 10th edition, McGraw-Hill/Irwin, 2022, ISBN: 9781260716313

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