Upon successful completion of this course, students are expected to: describe the uses, capabilities and limitations of various statistical procedures; apply appropriate descriptive statistics to present and summarize data into useful information; apply appropriate statistical inference methods to solve a business problem; conduct a thorough statistical analysis and utilize the interpretation in making business decision; and utilize statistical software in analyzing data.
Business Statistics is the science of good decision-making in the face of uncertainty and is used in many business management areas such as marketing, finance, production and operations including services improvement. The course provides knowledge and skills to interpret and use statistical techniques in a variety of business applications. The course will emphasize the relevance of statistics, encourage the students to be familiar with the software used in business world, and provide ample practice in order to understand how statistics are used in business.
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