Applied Probability and Statistics

Catalog description

Management decisions are increasingly data-driven and supported by quantitative arguments, yet these decisions are invariably made under conditions of uncertainty. This course introduces a framework for thinking about data-driven problems involving uncertainty and develops probabilistic and statistical tools for understanding, analyzing, and interpreting data. Specifically, the objective of the course is to provide an appropriate foundation in applied probability and statistics, which is necessary for datadriven quantitative managerial decision-making and for subsequent courses in the program. Topics include an introduction to probability, discrete and continuous probability distributions, sampling distributions, estimating population parameters, linear regression, and time series. This course is for MSQM: Health Analytics students.