Lectures and seminars.
- Descriptive Statistics: frequency distributions, graphical displays, measures of central tendency, measures of dispersion.
- Probability: experiments, counting rules, assigning probabilities, events, complement, exclusion, intersection, union, addition law, conditional probability.
- Discrete Probability Distributions: expected value and variance, binomial distribution.
- Continuous Probability Distributions: uniform and normal probability distributions.
- Sampling Distributions: random sampling, sampling distribution of sample mean and sample proportion.
- Interval Estimation: means and proportions, small and large samples, determining sample size.
- Hypothesis Testing: formulating and testing a research hypothesis, I and II tailed tests about sample mean and proportion, Type I and II error.
- Statistical Inference with Two Populations (independent samples): interval estimation and hypothesis tests for difference between two means and between two proportions.
- Computer Analysis with Excel Spreadsheets: creation of spreadsheets, histograms, frequency tables, scatter charts, interval estimates, and use of probability distribution functions.
- Simple Linear Regression: least squares, model and assumption, R-Squared, prediction.
At the end of the course, the successful student should be able to:
- collect statistical data using appropriate sampling techniques;
- organize statistical data and calculate measures of central tendency and variation;
- calculate the probability of events when they are mutually exclusive, independent and dependent;
- use binomial and normal distribution to make probability estimates;
- set up confidence intervals for population means and proportions;
- use sample information to test statements or claims about parameters;
- use computer spreadsheets to solve statistical problems;
- use simple regression to determine significance of relationship between two variables.
|Term Examinations (2-3)||40% - 50%|
|Computer Lab Test||5% - 10%|
|Assignments (6-12)||15% - 25%|
|Participation||0% - 5%|
Textbooks and Materials to be Purchased by Students
Bowerman, Bruce et al. Business Statistics in Practice, Latest Edition. McGraw-Hill; or
Sharpe, Norean R., De Veaux, Richard D. et al. Business Statistics, Latest Edition. Pearson; or
Other textbooks approved by the department.
Use of only Commerce and Business Administration faculty-approved calculators.
FINC 1231 or (Principles of Math 12 with a C or Pre-Calculus 12 with a C or equivalent)