Course Description
Analysis of data with appropriate software. Develop data exploration and visualization skills. Apply concepts of random sampling, probability, probability distributions, and expected value. Employ statistical inference in business decision making. Use linear regression for describing and predicting empirical relationships.
Athena Title
App Stat and Data Analy Bus
Equivalent Courses
Not open to students with credit in BUSN 3000, BUSN 3000H, BUSN 3001
Non-Traditional Format
This course will be taught 95% or more online.
Prerequisite
Second year student standing
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Student Learning Outcomes
- Students who complete this course will be able to perform context-relevant exploratory data analysis.
- Students who complete this course will be able to apply the basic concepts of probability theory, including random variables, probability distributions, and expected value.
- Students who complete this course will be able to apply basic statistical estimation concepts to learn about population characteristics and differences in population groups.
- Students who complete this course will be able to carry out basic statistical inference on potential group differences, including confidence intervals, hypothesis tests, and interpretation of statistical and practical significance.
- Students who complete this course will be able to estimate simple linear regression models, interpret the estimated coefficients and standard errors, conduct basic tests of significance, assess overall fit, and use the fitted model for prediction.
- Students who complete this course will be able to employ the techniques covered in the course to aid business decision-making.
Topical Outline
- Exploratory data analysis
- Random variables and probability
- Expected value, variance, covariance, and correlation
- Estimating population characteristics and group differences
- RCTs and A/B tests
- The Law of Large Numbers and Central Limit Theorem
- Sampling distributions and the CLT
- Confidence intervals and hypothesis tests
- p values, statistical and practical significance
- Simple linear regression
Institutional Competencies
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
