STAT 500 - Statistics for Business

3 Credits
This is the basic statistics course for graduate students who have never had statistics or for those who need a refresher course. Descriptive and inferential statistical methods are applied in problem-solving and decision-making situations. The probabilities of random events and the percentiles of random measure are derived, analyzed, and used either to ascertain unknown current state of affairs or to anticipate future outcomes.

Fees: Additional course fees apply.
Course Learning Outcomes:
1. Organize, summarize, and interpret qualitative and quantitative data using tabular and graphical approaches such as the histogram and bar and pie graphs.
2. Derive, apply, and understand the mean, median, mode, range, percentile, quartile, variance, standard deviation, coefficient of variation, z-score, and Chebyshev’s Theorem.
3. Derive, apply, and understand the expected values and variance of discrete random variables and the probabilities from the relative frequency, the binomial, and the Poisson distributions.
4. Derive, apply, and understand the probabilities and the percentiles from the normal and the standard normal random variables.
5. Derive, apply, and understand the confidence interval estimations of the population mean, proportion, variance, and standard deviation.
6. Infer conclusions based on hypothesis tests of the population mean, proportion, variance, and standard deviation.