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STAT 242. Statistical Methods I for Business

Credits: 4
Department: Mathematics & Statistics
Description: Business problem solving: Data collection, summarizing and describing data, estimation and hypotheses testing, analysis of variance, regression analysis, time series, quality control, decision analysis. Use of statistical software.
Prerequisites: MATH 196 or MATH 112 or equivalent
Semester Offered:
  • Fall
  • Spring
  • Summer
Grading Method: ABCDF

Student Learning Outcomes

1. Students will be able to select and use appropriate statistical methods, including: study design, graphical and numerical summaries, probability models, z-scores and the normal distribution, one- and two-sample hypothesis tests and confidence intervals, chi-square tests, simple and multiple linear regression, analysis of variance, time series analysis, quality control, and decision theory.
2. Students will be able to analyze a business problem through the application of an appropriate statistical method and the appropriate use and interpretation of statistical software.
3. Students will be able to evaluate the validity of a statistical analysis of data.

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