STAT242 - Statistical Methods I for Business
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.
Goals and Diversity
MN Goal Course
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.
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.
Students will be able to evaluate the validity of a statistical analysis of data.