Statistics Analysis Foundation

BSAD 702  •  2 Credits  •  7 Weeks  •  Typically Offered: Fall, Spring

The Statistics Foundation course is designed for students entering the MBA program who lack a basic knowledge of how to use statistics for business decision making.

At the end of the course you will be able to determine whether a business problem should be addressed with a statistical tool, and if so: 1) select the appropriate tool, 2) implement the tool using Excel and 3) interpret results in a manner that help you address the underlying business problem. The statistical tools include frequencies, means/medians, standard deviation, cross-tabulation, comparison of mean across groups, correlation, regression and p-value.

Prerequisites

College algebra and basic competency in using MS Excel. Not for MBA credit.

Course Outcomes

1. Recognize basic statistical concepts, such as what is meant by statistics and making inferences from a sample of data to a population of interest.
2. Work with different types of data, and know how to select an appropriate statistical tool based on the types of data being studied.
3. Conduct and interpret univariate (one variable) statistics, such as frequencies, mean and standard deviation.
4. Conduct and interpret bivariate (two variable) statistics, using crosstabulations, comparison of means, correlations and bivariate regression.
5. Conduct and interpret multivariate (three or more variable) statistics, using regression and R2.
6. Report and discuss results from statistical analyses in ways that logically drive implications and recommendations.
7. Recognize how statistics can be used in business decision making, including the limitations of statistics.