MATH 246 Business Statistics

5 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.

This course meets the Quantitative Reasoning general education distribution requirement.

Prerequisites: Admission to a Bachelor of Applied Science (BAS) 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

General Education Distribution Area Outcomes
Students who successfully complete courses in the Quantitative Reasoning distribution area will be able to:

Gather, organize, and interpret data using multiple approaches
Develop and use mathematical models to describe and evaluate physical situations
Communicate problem-solving strategies and mathematically justify solutions
Select and utilize appropriate technology to analyze mathematical problems

Total Hours: 50 Theory (Lecture) Hours: 50