This course is designed to provide students with a fundamental understanding of statistical processes and techniques commonly used in today’s business arena. Using practical applications and problem solving, students will develop a basic understanding of statistics and its impact and uses in business. Students will develop a working knowledge of such topics as frequency distributions, measures of central tendency and dispersion, probability, normal distribution, sampling methods, estimation and hypothesis testing. Computer competency is strongly advised. This may be demonstrated by successful completion of
BUSA 215 or a computer placement exam. Prerequisite: Math 043 or equivalent.
BUSA 207Business Statistics for Decision Making I*
Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.
I. General Information
Department
Business & Economics
II. Course Specification
Course Type
Program Requirement
General Education Competency
[GE Core type]
Credit Hours Narrative
3.00 Credits
Semester Contact Hours Lecture
50
Semester Contact Hours Lab
0
Semester Contact Hours Clinical
0
Grading Method
Letter grade
III. Catalog Course Description
This course is designed to provide students with a fundamental understanding of statistical processes and techniques commonly used in today’s business arena. Using practical applications and problem solving, students will develop a basic understanding of statistics and its impact and uses in business. Students will develop a working knowledge of such topics as frequency distributions, measures of central tendency and dispersion, probability, normal distribution, sampling methods, estimation and hypothesis testing. Computer competency is strongly advised. This may be demonstrated by successful completion of BUSA 215 or a computer placement exam. Prerequisite: Math 043 or equivalent.
IV. Student Learning Outcomes
Upon completion of this course, a student will be able to:
- Communicate statistical concepts to a variety of audiences, both in writing and orally.
- Utilize descriptive statistical techniques, both graphical and numerical, to summarize data effectively.
- Distinguish between, identify and interpret results using discrete and continuous probabilities.
- Develop, identify and interpret confidence interval estimates for single and two populations.
- Plan and implement statistically correct sampling technique(s).
- Utilize both manual computations and statistical programs (Excel) to solve problems.
- Communicate understanding/mastery of course material via classroom discussions.
- Demonstrate understanding/mastery of course material via homework, exam and project grades.
- Concentrate on real world and personal application of course material using problem solving approaches and examples.
- Communicate the relevancy and applicability of statistical concepts using a global business perspective.
V. Topical Outline (Course Content)
The course consists of four units, each with its own exam, as well as a team project as a class final (see Section VI):
Unit 1: Chapter 1: The Where, Why, and How of Data Collection
Chapter 2: Graphs, Charts, and Tables--Describing Your Data
Chapter 3: Describing Data Using Numerical Measures
Unit 2: Chapter 4: Introduction to Probability
Chapter 5: Discrete Probability Distributions
Chapter 6: Introduction to Continuous Probability Distributions
Unit 3: Chapter 7: Introduction to Sampling Distributions
Chapter 8: Estimating Single Population Parameters
Unit 4: Chapter 9: Introduction to Hypothesis Testing
Chapter 10: Estimation and Hypothesis Testing for Two Population Parameters
VI. Delivery Methodologies
Required Assignments
Homework
There are a total of eleven homework assignments throughout the semester. Each homework assignment is worth 20 points, and students are allotted one "free" homework (students may drop the lowest homework score).
Team Project
Working in groups of two or three, students are required to find, review, interpret and present a business-related research article to the class. Each team presents their article to the class during finals week in a 10-15 minute presentation. Teams also are required to turn in a 5-7 page paper that discusses the article and should reflect analytical thinking and application of course material in interpreting the methods of the study, as well as what the results mean for real-world business applications. The project is worth one hundred 100 points: 50 points for the presentation and 50 points for the paper.
Required Exams
Exams
There are four section exams worth one hundred 100 points each. The exams are not comprehensive; each exam only pertains to information covered since the previous exam. The exams are individual effort only and contain true/false, multiple choice, and short answer items which may involve calculations and/or interpretation of statistical results. Students are allowed to use a single, one-sided sheet of handwritten or typed notes for each exam. Students are also required to use a basic calculator during exams; no graphing calculators or the like are allowed.
Required Text
Business Statistics: A Decision-Making Approach. Ninth Edition. David F. Groebner, Patrick W. Shannon, and Phillip C. Fry. Prentice Hall, 2014.
Specific Course Activity Assignment or Assessment Requirements
Homework
There are a total of eleven homework assignments throughout the semester. Each homework assignment is worth 20 points, and students are allotted one "free" homework (students may drop the lowest homework score).
Team Project
Working in groups of two or three, students are required to find, review, interpret and present a business-related research article to the class. Each team presents their article to the class during finals week in a 10-15 minute presentation. Teams also are required to turn in a 5-7 page paper that discusses the article and should reflect analytical thinking and application of course material in interpreting the methods of the study, as well as what the results mean for real-world business applications. The project is worth one hundred 100 points: 50 points for the presentation and 50 points for the paper.
Exams
There are four section exams worth one hundred 100 points each. The exams are not comprehensive; each exam only pertains to information covered since the previous exam. The exams are individual effort only and contain true/false, multiple choice, and short answer items which may involve calculations and/or interpretation of statistical results. Students are allowed to use a single, one-sided sheet of handwritten or typed notes for each exam. Students are also required to use a basic calculator during exams; no graphing calculators or the like are allowed.
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