BUS 5171 - Statistics for Business Decisions

Course Description

This course develops an understanding of foundational statistical reasoning concepts related to business. Topics include probability, descriptive statistics, variance, statistical inference, confidence intervals, non-parametric statistics, analysis of variance, correlation, regression analysis, and a Christian perspective on uncertainty, risk, transparency, honesty, integrity, and the role statistics play in pursuing the common good.

Course Outline

Module 0: Welcome & Getting Started

Module 1: Introduction/Overview

Module 2: Summarizing Data

Module 3: Summarizing Data Part 2

Module 4: Sampling & Probability

Module 5: Hypothesis Testing & Comparing Sample Means

Module 6: Confidence Intervals

Module 7: Chi-square

Module 8: Analysis of Variance (ANOVA)

Module 9: Correlation

Module 10: Regression

Learner Outcomes

Upon completion of the course, participants should be able to:

Compute and visually portray core descriptive statistics (e.g., means, data visualizations) and use them to describe business situations and tell “data stories”
Compute basic inferential statistics (e.g., t-tests) and apply them in business decision-making
Compute limits of “statistical” significance
Compare sample means
Describe patterns of association (i.e., correlation)
Describe predictive relationships (i.e., regression)
Describe ethical practices related to statistics, how statistics can be misused either by accident or on purpose, and how to spot “good” results from “weak” results when making business decisions
1. Select, perform, interpret, and communicate appropriate statistical content for a given business question

Notes

This is an asynchronous online class with a structured starting and ending date. It has no face-to-face, in person meetings. It is designed for students to be self-managing learners who pace their learning. Participants will have responsibility for using the material provided in Canvas and the textbook to accomplish the learning objectives of the course primarily on their own with some coaching from the instructor. Participants may work through the assignments at their own pace, but should try to complete one module per week to complete the course within the designated time frame.