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Introductory Business Statistics Course Outline
How are statistics used in real world scenarios?
- How are statistics and probability defined?
- How do you design an ethical experiment?
- What are the different types of data and sampling?
- How do you organize data?
What is Descriptive Statistics?
- What are some tools of Descriptive Statistics?
- How do you measure location?
- What is the “center” of a set?
- How do you determine Sigma Notation and Calculate the Arithmetic Mean?
- What is Geometric Mean?
- How do you describe distribution?
- How do you describe spread of data?
What is Probability?
- What are important probability terms?
- How are events related?
- What are some tools of Probability?
- What is a Contingency Table?
- How do you deal with complex probability problems?
What is a Discrete Random Variable?
- What is a Hypergeometric Distribution?
- What is a Binomial Distribution?
- What is a Geometric Distribution?
- What is a Poisson Distribution?
What is a Continuous Random Variable?
- How do you estimate Probability in Continuous Probability Functions?
- What is a Uniform Distribution?
- How can we estimate when an event will occur?
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- What does “Standardized Normal Distribution” mean?
- How do you use a Normal Distribution?
- How do you estimate the Binomial with the Normal Distribution?
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- What is The Central Limit Theorem for sample means?
- How does one use the Central Limit Theorem?
- What is needed to use the Central Limit Theorem for Proportions?
- What is the Finite Population Correction Factor?
How do you measure confidence?
- How do you analyze a single population mean using normal distribution?
- How do you analyze a single population mean using the Student t Distribution?
- How do you measure confidence for a Population?
- What are the steps to calculate the Sample Size n?
How do we test a hypothesis with one sample?
- What are the two types of hypotheses?
- What are the outcomes of a hypothesis test?
- What distribution is needed for hypothesis testing?
- What are some examples of Full Hypothesis Tests?
How do we test a hypothesis with two samples?
- How does one compare Two Independent Population Means?
- What are Cohen’s Standards for Small, Medium, and Large Effect Sizes?
- How does one test for Differences in Means: Assuming Equal Population Variances?
- How do you compare two independent population proportions?
- How do you perform a hypothesis test with known standard deviations?
- What do you do when you have matched or paired samples?
How do we test the relationship between things?
- What is the Chi-Square Distribution?
- What are the steps to test a Single Variance?
- How well does the data “fit”?
- How do you test whether two sets are independent?
- How do you test whether two populations have the same distribution?
- Which Chi-Square Tests should you use?
How do we compare averages of more than two groups?
- What is the Test of Two Variances?
- What is a ANOVA test?
- What is the F Distribution?
- What characterizes the F Distribution?
How do we test if events are correlated?
- What is the Correlation Coefficient r?
- How do you test the significance of the correlation coefficient?
- What is a linear equation?
- What is a Regression Equation?
- How do you complete the Interpretation of Regression Coefficients?
- What are the steps to predicting with a Regression Equation?
- How do you use Microsoft Excel® for Regression Analysis?
Introductory Business Statistics is designed to meet the scope and sequence requirements of the one-semester statistics course for business, economics, and related majors. Core statistical concepts and skills have been augmented with practical business examples, scenarios, and exercises. The result is a meaningful understanding of the discipline, which will serve students in their business careers and real-world experiences.
About the authors:
Senior Contributing Authors
Alexander Holmes, The University of Oklahoma
Barbara Illowsky, De Anza College
Susan Dean, De Anza College
Kevin Hadley, Federal Reserve Bank of Kansas City