Statistics and Decision Making

Catalog description

The objective of this course is to analyze data and use methods of statistical inference in making business decisions. This course will focus on the application of fundamental concepts covered in Probability and Decision Making to the problem of drawing inferences from data on observed outcomes. Topics covered during the first part of the course will include statistical sampling and sampling distributions, point estimation and confidence intervals, hypothesis testing, and correlations among variables. The second part of the course will focus on multivariate analysis, with special attention paid to the inferences that may draw with respect to prediction and causality. Microcomputer statistical packages support the course content.