Introduction to statistics and statistical procedures. Statistical methods, descriptive statistics and inferential statistics. The role of statistics in modern business environments and for management information. Data collection, data tabulation. Probability concepts and probability distributions. Sampling distribution, interval estimation and hypothesis testing. Correlation and regression analysis.
LEARNING OUTCOMES
At the end of this course, students should be able to:
1. describe and explain basic statistical concepts, including their empirical;
2. applications in a business context;
3. interpret the relevance of statistical findings for business problem solving and decision making;
4. identify basic probability concepts and probability distributions as an aid to business decision making; and
5. conduct basic statistical procedures using real business data: estimation, hypothesis tests, ANOVA, linear regressions, time-series analysis, index numbers and basic quality control analysis.
- Teacher: Mukhtar Baba