Prerequisite: MATH 280
This course applies statistical knowledge to business. It explains to the student the managerial use of data for decision making and systematic problem solving using basic statistical concepts. It is expected that the student will be able to collect business data, ask the right questions, analyze the collected data using both descriptive and inferential statistical tools, learn to formulate and test hypothesis. As today’s global business is in a constant state of flux, the student is expected to master probability concepts and understand their role in probabilistic decision making. Topics covered include: descriptive statistics, probability distributions, sampling and sampling distributions, interval estimation, hypothesis testing, and regression (simple linear and multiple).