BUSA 2100 Statistics for Business I

This course is part one of a two course statistics sequence in the business core. This course assumes no prior knowledge of statistics. This introductory course covers the material through probability and hypothesis testing. This course is taught using MS EXCEL as the software tool to solve all problems in this course. Practical applications of statistical tools and techniques to solve business problems will be the focus. Students will begin the journey towards a decision-making mind-set based upon data, research and interpretation of research findings. Specific topics include defining data, describing data, visualizing data, statistical inference (probability, normal distributions and central limit theorem) and hypothesis testing.

Credits

3

Prerequisite

BUSA 2030, Minimum Math ACT score of 17 OR Minimum Math SAT score of 510 OR "C" or better in MATH 1005

Typically Offered

Athens Campus: fall evening — Demorest Campus: fall day, spring day

Student Learning Outcomes

At the successful completion of this course, students will be able to:

1. Identify different levels of measurement (nominal, ordinal, interval and ratio).
2. Demonstrate mastery of calculating descriptive statistics in Excel including mean, median, mode, standard deviation and variance.
3. Understand the key steps in hypothesis testing including
   1. Crafting a null hypothesis,
   2. Establishing a significance level that balances Type I and Type II errors,
   3. Calculating a test statistic and probability in Excel,
   4. And interpreting the results.
4. Demonstrate awareness of the three pillars of inferential statistics (probability, central limit theorem and normal distributions).
5. Understand the methods and importance of drawing a probability sample in inferential statistics.
6. Present statistical results visually and graphically.
7. Identify common mistakes and biases that skew statistical results.