Course

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

Objective:

Upon the successful completion of this course, the student will be able to learn how to apply statistical information and quantitative methods to the workplace, and examine techniques for gathering, analyzing, and interpreting data applicable to many fields, from anthropology to hedge fund management.

Learning Outcomes:

  • Explain the importance of statistics and statistical analysis for applicability to business scenarios
  • Explain the differences between data types (quantitative and qualitative data) and their application to real-world situations
  • Apply the elements of descriptive statistics to solve problems and understand datasets
  • Create graphs and visual representations of data, and interpret information presented in graphs
  • Describe the properties of various data distributions, and calculate the metrics from those distributions
  • Apply the concept of a random variable, including differentiating the population from a sample
  • Relate the central limit theorem to sample size and normal distribution
  • Describe 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
  • Estimate intervals over which the population parameter could exist using sample data
  • Apply hypothesis testing for testing population parameters using one or two samples
  • Explain components of the linear regression model, and interpret the values of those components
  • Plot a regression line, and explain how the regression coefficient shapes that line

General Topics:

  • Unit 1: Introduction to Statistical Analysis
  • Unit 2: Counting, Probability, and Probability Distributions
  • Unit 3: The Normal Distribution
  • Unit 4: Sampling and Sampling Distributions
  • Unit 5: Estimation and Hypothesis Testing
  • Unit 6: Correlation and Regression
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations

Minimum Passing Score:

70%
Supplemental Materials