PRINCIPLES OF BUSINESS STATISTICS

Course Objectives:

The fundamental objectives of this course are to make students understand the basic statistical concepts and techniques and how they can be applied in the field of business and economics as modern managers. The aim of the course is to build students' statistical back ground and to give them the statistical skills necessary to meet the needs of business and the real-world decision-making problems

Course Description :
This course will introduce the basic concepts and methods of statistics, as applied to business and computing. It introduces the use of statistical methods and tools in evaluating research data for business applications. Emphasis is placed on basic probability, measures of spread and dispersion, central tendency, sampling, regression analysis, and inductive inference

Course Outline:
•  Introduction; Variables; Examining Data and Distributions
•  Examining Data and Distributions; Electronic Spreadsheet and Minitab
•  Examining Relationships Regression
•  Numerical Description of Data : Mean Deviation, Variance, Standard Deviation, Empirical Rule, Chebychev's Rule, Skewed Distribution, Pearson's Coefficient of Skewness
•  Producing Data; Probability and Sampling Distributions
•  Probability and Sampling Distributions; Binomial distribution: Discrete & Continuous Random Variable, Probability Distribution, Cumulative probability Distribution
•  Confidence Intervals: Point Estimate, Confidence Interval, Proportion, Standard Error of the Sample Proportion
•  Inference for Distributions
•  Inference for Proportions; Inference for Two-Way Tables

Learning Outcomes:
Upon successful completion of the course, the student should be able to:
•  To know when and how statistical analysis might be useful
•  To choose between statistical techniques and interpret and evaluate the validity of work based on
inappropriate techniques.
•  To interpret the results of statistical analysis
•  Students should be able to apply statistical problem solving to business.

Skills to be developed:
This course helps students in developing the following skills:
•  Communication (Oral & written) Through Assignments, Case Study discussions and
examinations
•  Analytical Through Case studies and examinations
•  Team Work Through Case studies
•  Creative Thinking Through Case studies, assignments, classroom
discussions
•  Adaptability to Change Through Case studies, and examinations
•  Ethics Through lectures and assignments
•  Use of Information Technology Through use of PCs, Internet, CD-ROM, Statistical
data base in the library

Evaluating Student Performance:
Class participation and attendance 10%
Individual assignments /or/ Tests (two) 40%
Final Exam 50%

Grading:
Percentage Score Letter Grade GPA Points Percentage Score Letter Grade GPA Points

90 – 100 A 4.0 70 - 74 C 2.0
85 - 89 B+ 3.5 65 - 69 D+ 1.5
80 - 84 B 3.0 60 - 64 D 1.0
75 - 79 C+ 2,5 < 60 F 0.0

Educational Resources:

Course Schedule & Outline:
Sixteen Week Semester, 3 hrs/Wk