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: MATH& 146 (preferred) or any other college-level, transferable math class with intermediate algebra as the prerequisite

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

College-Wide Learning Outcomes
This course teaches to the college-wide learning outcome of Critical Thinking, the ability to evaluate information, draw inferences, arrive at conclusions, and create solutions based on objective analysis of the evidence.

Total Hours: 50 Theory (Lecture) Hours: 50