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Apr 05, 2026
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2025-2026 Catalog [ARCHIVED CATALOG]
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BUSN 230 - Business Statistics
PREREQUISITES: BUSN 101 - Introduction to Business or INFM 219 - Business Intelligence and Reporting and MATH 135 - Finite Math or MATH 136 - College Algebra or higher and BOAT 207/OTEC 207 - Integrated Microsoft Office Applications or BOAT 218/OTEC 118 - Microsoft Excel
PROGRAM: Business Administration
CREDIT HOURS MIN: 3
LECTURE HOURS MIN: 3
TOTAL CONTACT HOURS MIN: 48
DATE OF LAST REVISION: Fall 2024
This course develops competence in the application of descriptive and inferential statistics to solve business problems. Students will examine data, calculate probabilities, and analyze basic sampling processes. Emphasis is placed on statistical modeling, estimation, hypothesis testing, and ethical considerations. Practical applications will be supported through the use of statistical software.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be expected to:
- Analyze and Solve Business Problems Using Statistics
- Apply descriptive and inferential statistical techniques to identify and address business challenges.
- Calculate and Interpret Descriptive Measures
- Compute and interpret measures of central tendency (mean, median, mode) and measures of dispersion (range, variance, standard deviation).
- Evaluate Probability Distributions and Random Variables
- Calculate probabilities for single, compound, and conditional events; evaluate expected value and standard deviation for random variables.
- Construct and Analyze Sampling Distributions and Confidence Intervals
- Calculate sampling distributions, standard error of the mean, and construct confidence intervals for sample means and proportions.
- Perform Hypothesis Testing
- Conduct and interpret hypothesis tests for large and small sample sizes, applying appropriate statistical techniques.
- Interpret Relationships Using Regression and Correlation
- Perform and analyze linear regression, covariance, and correlation; evaluate the R² statistic and interpret regression coefficients.
- Utilize Statistical Visualizations and Probability Models
- Create, interpret, and differentiate between tables (e.g., frequency distribution) and graphs (e.g., histograms, scatter plots, boxplots) for various data types; calculate probabilities for discrete and continuous probability distributions.
- Assess Ethical Implications in Statistical Applications
- Evaluate ethical considerations in the application of statistical methods to business decision-making.
COURSE CONTENT: Topical areas of study include -
- Descriptive and inferential statistics
- Measures of central tendency and dispersion
- Categorical and numerical variables
- Sampling distributions of the mean and standard error of the mean
- Sampling distributions of proportions
- Probability
- Distributions: binomial, normal, Poisson, exponential, based on empirical data
- Expected value
- Correlation analysis
- Coefficient of determination
- Frequency distributions and graphs
- Central limit theorem
- Null and alternative hypothesis
- Type I and II errors
- Hypothesis testing
- Linear and multiple regression
- Significance testing
- Survey sampling
Course Addendum - Syllabus (Click to expand)
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