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Business Statistics

The issue facing managers is not a shortage of information, but a matter of how to process, organize, present and interpret large amounts of information. Much of this information is quantitative in nature, and the skills needed to transpose data into meaningful, functional, problem solving information are those of statistics. What will happen to business – its ability to create and maintain a competitive edge – depends upon statistics. It is from this perspective that this course has been developed.

This course introduces students to the theory of probability and enables them to use statistical measures to draw conclusions about populations based upon sample analysis. Topics include: Presenting Data in Tables and Charts; Summarizing and Describing Numerical Data; Simple Linear Regression and Correlation; Time Series Forecasting; Probability; Normal Distribution and Sampling Distribution; and Estimation.

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