Business Statistics - BUS 224 at Southwest Virginia Community College

Effective: 2023-05-01

Course Description

Introduces methods of probability assessment and statistical inference. Includes data presentation; descriptive statistics; basic probability concepts; discrete and continuous probability distributions; decision theory; estimation and sampling distributions; Central Limit Theorem; simple linear regression and hypothesis testing for a single sample or population. Emphasizes business and economic applications. Utilizes computer software as a tool for problem-solving.
Lecture 3 hours. Total 3 hours per week.
3 credits

The course outline below was developed as part of a statewide standardization process.

General Course Purpose

This course is designed to provide the student with the statistical tools necessary to make informed business decisions based on data provided. It provides students with a frame of reference when learning statistics. The focus of the topics is on the theoretical and practical application in business, the interpretation of the results, and what should be done if the assumptions are incorrect. Business students and those of other disciplines can benefit from this course.

Course Prerequisites/Corequisites

Prerequisite: MTH 161

Course Objectives

Major Topics to be Included

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