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.
College algebra and basic competency in using MS Excel. Not for MBA credit.
- Recognize basic statistical concepts, such as what is meant by statistics and making inferences from a sample of data to a population of interest.
- Work with different types of data, and know how to select an appropriate statistical tool based on the types of data being studied.
- Conduct and interpret univariate (one variable) statistics, such as frequencies, mean and standard deviation.
- Conduct and interpret bivariate (two variable) statistics, using crosstabulations, comparison of means, correlations and bivariate regression.
- Conduct and interpret multivariate (three or more variable) statistics, using regression and R2.
- Report and discuss results from statistical analyses in ways that logically drive implications and recommendations.
- Recognize how statistics can be used in business decision making, including the limitations of statistics.