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.

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

Global Outcomes
This course teaches to the global outcome of critical thinking.

Total Hours: 50 Lecture Hours: 50