Business Statistics | 5 Credits

This course gives students domestic sales records containing detailed information including store number, sales region, item number, item description, unit price, units sold, and date of sale. Students will work with the data using spreadsheet technologies such as Microsoft Excel to apply a number of spreadsheet formulas on the data, aggregate the data using pivot tables, summarize data, and create charts and tables with summary data. Students will also apply measures of central tendency (mean, median and mode) as they relate to sales data. They also arrive at measures of variability (e.g., range, standard deviation, and variance) on different segments of sales data and calculate measures of relative positon (e.g., percentiles, quartiles, and interquartile ranges). Students demonstrate an understanding of these statistical concepts and how to compute them with formulas in spreadsheets. Students will then use this information to complete a written report for the CEO as well as a PowerPoint presentation for the Board of Directors. Students will also demonstrate their editing capabilities by revising a colleague’s memo and complete an evaluation/reflection of the primary deliverables.

Required text (effective August, 2022 and later): Joshua N. Milligan, Learning Tableau 2020: Create effective data visualizations, build interactive visual analytics, and transform your organization, 4th Edition. ISBN-13: 978-1800200364, ISBN-10: 1800200366.

Successful completion of this course satisfies credit equivalents in the following competency areas: Information Systems (0.5), Business Statistics (0.8), and Business Communication (0.7).

• Construct and utilize spreadsheets effectively.
• Compute measures of central tendency, location, and variability.
• Write clearly for target audiences, purposes, and contexts.

In this course, students will perform data analysis through a series of directed questions. They will apply various techniques such as laws of probability, theory of normal and other distributions, estimation and hypothesis testing procedure on means, and applications of chi-Square. Based on statistical results, students are expected to thoroughly analyze a business scenario and write supported conclusions. Students should provide convincing logical reasoning to explain any contradiction observed and are encouraged to perform additional research to support their reasoning. They will write a professional executive report describing their data analysis procedure and conclusions. 

Required text: Anderson, David R., Dennis J. Sweeney, and Thomas A. Williams, Statistics for Business and Economics, 11th Edition (older or newer versions are also fine). ISBN: 978-0324783247

• Demonstrate knowledge of probability terminology and concepts, and compute probabilities.
• Apply concepts of distributions to solve business problems.
• Construct confidence intervals, and conduct hypothesis testing for means.
• Apply appropriate Chi-square technique, and interpret test results.

Prerequisites

• MATH 105C Application of Algebraic Methods to Model and Solve Business Problems
• BAOS 300x Sales Data Analysis and Communication Using Spreadsheets and Statistics

In this course, students will be performing data analysis through a series of directed questions. They will apply various Regression and ANOVA techniques. Based on statistical results, students are expected to thoroughly analyze a given situation and write supported conclusions. Students should provide convincing, logical reasoning to explain any contradiction observed and are encouraged to perform additional research to support their reasoning. They will write a professional executive report describing their data analysis procedure and conclusions.

Required text: Anderson, David R., Dennis J. Sweeney, and Thomas A. Williams, Statistics for Business and Economics, 11th Edition (older or newer versions are also fine). ISBN: 978-0324783247

• Identify and apply the appropriate ANOVA test for business decision making.
• Develop a regression model and predict the dependent variable.

Prerequisites

• BAMA 300x Business Analytics I