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May 02, 2024
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Catalog 2022-2023 [ARCHIVED CATALOG]
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MATH 246 Business Statistics5 credits
The course is designed to teach business managers to interpret statistical analyses and apply statistical methods in a business context. Topics include data description, data presentation, statistical analysis, statistical interpretation, and statistical inference. Statistical results will be used as a foundation in answering business-related questions and making evidence-based decisions.
Prerequisites: Admission to BASTLSCM program
Course Outcomes
Upon successful completion of this course students will be able to:
- Identify and implement statistically valid business data collection methods, and perform detailed statistical analysis using Excel and/or PASW
- Present analytics for business applications using descriptive statistics and visualization
- Apply linear regression to business data using Excel and/or PASW, and express how multiple regression can be utilized to improve upon linear regression
- Apply probability distributions and statistical tools used for analysis and decision making in a business management context
- Calculate and interpret measures of statistical inference, and apply these measures to decision-making in a business management context
- Interpret the results of hypothesis tests and Chi-square analyses using business related examples
- Define the Central Limit Theorem, and apply its principles to Control Charts
Program Outcomes
This course teaches to the following transportation, logistics, and supply chain management program outcome:
- exhibit the analytical thought, informed judgment, ethical behavior, and appreciation for diversity required by management positions in the transportation and logistics management industries
Total Hours: 50 Theory (Lecture) Hours: 50
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