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
- Select, perform, interpret, and communicate appropriate statistical content for a given business question