Introduction to Business Statistics

Statistics is the science of collecting, organizing, and analyzing data in order to make more effective decisions. As such, statistics is critical to a successful business. This introductory-level course is meant for non-financial managers. Understanding statistical techniques can help any manager responsible for marketing, management, accounting, sales, or other business functions. This course will also cover graphical representations of data that your stakeholders may expect when reviewing the results of any statistical analysis. Learning Outcomes Differentiate between descriptive and inferential statistics Distinguish between the four different scales of measurement: nominal, ordinal, interval, and ratio Identify the appropriate graphical or tabular method for presenting your data Create frequency distributions Create meaningful presentations and graphs including frequency polygons, bar graphs, pie charts, line graphs, histograms Calculate probability and explain its practical application Compute the mode, median, and mean of a dataset Calculate the variance and standard deviation of a dataset Interpret sampling with and without replacement Explain the significance of the area under a curve