Business Statistics

This course focuses on the application of statistical methods to the solution of real-life business problems. Upon completion of this course, students will be able to apply appropriate statistical techniques needed to collect, summarize, and interpret data in order to answer business-related questions and communicate informed business decisions. In addition, students will be able to identify and implement appropriate statistical tests using past business data in order to test claims about current conditions and estimate unknown parameters. Emphasis is on interpretation and evaluation of statistical results, and all computations are carried out using appropriate technology, such as graphing calculators with a statistical package, spreadsheet programs (e.g. Excel), or statistical computing software.Topics include: data collection processes (sampling methods, observational studies, experimental design); descriptive methods using quantitative and qualitative data; basic probability theory and probability distributions (binomial, uniform, exponential and normal distributions); estimation using confidence intervals; hypothesis tests of means and proportions (both one- sample and two-sample); linear regression and correlation; chi square tests; and one-factor analysis of variance. Notes: Students may not receive credit towards a degree for both MTH 222 and MTH 142. A specific graphing calculator is required for this course. Contact the EMPS Division office for details.Prerequisites: MTH 122 (D or better) or MTH 108 (C or better)?OR?appropriate score on CLC Math Placement Test, Math ACT, or Math SATIAI: M1 902, BUS 901