Course

Course Summary

Credit Type:

Course

ACE ID:

ICS-0044

Organization's ID:

MAT210

Organization:

Penn Foster College

Location:

Classroom-based

Length:

Self-paced (52 weeks)

Dates Offered:

Credit Recommendation & Competencies

Level	Credits (SH)	Subject
Lower-Division Baccalaureate	3	Business Statistics, Introductory Statistics, or Mathematics

Description

Objective:

The course objective is to provide an introduction to business statistics, including the presentation of data, frequency distribution, averages, dispersion and skewness, index numbers, time series analysis, correlation and forecasting, linear regression, and the theory of probability and statistical inference.

Learning Outcomes:

Identify the role of probability sampling in inferential statistics
Identify the target parameter for comparing two populations
Understand how to target a parameter for comparing two populations and use confidence intervals and hypothesis test for comparing means
Recognize a relationship with the straight-line model and how it relates to how one quantitative variable affects another and the assessment of how the simple linear regression model fits the sample data
Describe how statistics are applied in the world of business
Apply the appropriate techniques for visually representing data
Define probability and explain the rules that govern discrete and continuous distributions
Recognize the relationship between sample size and level of confidence
Apply the binomial, Poisson, standard normal, and student's t distributions in business applications
Apply hypothesis testing in business applications
Compare two population means using confidence intervals and tests of hypothesis
Determine the sizes of samples necessary to estimate the differences between two population parameters with specified margin of error
Recognize the elements in the design of a sampling experiment and how to setup a design for comparing two population means