Course

Course Summary
Credit Type:
Course
ACE ID:
SAYA-0037
Organization's ID:
BUS204
Organization:
Saylor Academy
Location:
Online
Length:
40 hours (self-paced)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Elementary Statistics, Introduction to Statistics, or Introduction to Business Statistics
Description

Objective:

The course objective is to survey quantitative methods (QM), or the application of statistics in the workplace. Examines techniques for gathering, analyzing, and interpreting data in any number of fields - from anthropology to hedge fund management.

Learning Outcomes:

  • Define and apply the following terms: data sets, mean, median, mode, standard deviation, and variance
  • Summarize and interpret data in a tabular format using frequency distributions and visually with histograms
  • Define and apply the concept of a probability distribution, and explain the properties of different distributions
  • Relate the central limit theorem to sample size and normal distribution
  • Estimate intervals over which the population parameter could exist using sample data
  • Identify the dependent and independent variables in the linear regression model
  • Work with statistical data in a spreadsheet environment
  • Explain the importance of statistics to business
  • Explain the differences between quantitative and qualitative data, and identify examples of each type of data
  • Differentiate between discrete and continuous probability distributions
  • Define and apply the concept of a random variable, and differentiate the population from a sample
  • Describe and identify the different sampling methods, including systematic, stratified random, cluster, convenience, panel, and quota sampling, and identify examples of each
  • Use a point estimator from a sample to estimate the entire population
  • Apply hypothesis testing for testing population parameters using one or two samples
  • Plot a regression line, and explain how the regression coefficient shapes that line

General Topics:

  • An introduction to statistical analysis
  • Counting, probability, and probability distributions
  • The normal distribution
  • Sampling and sampling distributions
  • Estimation and hypothesis testing
  • Correlation and regression
Instruction & Assessment

Instructional Strategies:

  • Classroom Exercise
  • Computer Based Training
  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials