Course

Course Summary
Credit Type:
Course
ACE ID:
UPIS-0003
Organization's ID:
Statistics 101
Organization:
Location:
Online
Length:
70.5 Hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Principles of Statistics
Description

Objective:

The course objective is to provide students with a comprehensive grasp of statistical concepts and their practical applications in the business domain. By the course's conclusion, students will have attained proficiency in analyzing, interpreting, and effectively utilizing statistical data for informed decision-making in diverse business scenarios. The curriculum focuses on establishing foundational knowledge in both descriptive and inferential statistics, encompassing measures of central tendency, dispersion, and probability distributions. Students will develop essential data analysis skills, employing tools such as Excel for statistical calculations and visualization. The emphasis is placed on practical application, enabling students to apply statistical methods to real-world business problems and comprehend the impact of data-driven decisions on business strategies. The course also aims to enhance critical thinking by addressing biases, understanding limitations, and recognizing potential misuse of statistical data in business contexts. Furthermore, students will gain hands-on experience with statistical software, honing their proficiency in conducting complex analyses and presenting findings effectively. The integration of practical case studies and projects will strengthen problem-solving abilities, ensuring students can adeptly apply statistical methods to address various business challenges.

Learning Outcomes:

  • Master key statistical concepts, including descriptive and inferential statistics, probability distributions, measures of central tendency, and dispersion, while differentiating between data types for appropriate statistical treatments
  • Analyze, interpret, and visualize business data using statistical software like Excel, performing accurate and efficient calculations for data manipulation and graph/chart creation
  • Apply statistical methods to real-world business scenarios, using data-driven insights to inform and optimize business strategies, operational efficiencies, and market research
  • Present statistical findings clearly and concisely, suitable for various audiences, including writing reports and giving presentations effectively
  • Critically assess the quality and reliability of data sources, identify potential biases in statistical analysis, and understand their impact on business decision-making

General Topics:

  • Introduction to Statistics
  • Delving into Categorical Data
  • Descriptive Statistics: Exploring Measurement Techniques
  • Descriptive Statistics: Data Representation
  • Understanding Measures of Dispersion in Business
  • Examining Correlation and Association in Business
  • Probability Concepts in Business Statistics
  • Probability Distributions in Business Statistics
  • Sampling Techniques in Business Statistics
  • Constructing Confidence Intervals in Business Statistics
  • Hypothesis Testing in Business Contexts
  • Analyzing Variance in Business Research
  • Nonparametric Methods in Business Statistics
  • Regression Analysis in Business
  • Business Forecasting Techniques
  • Implementing Control Charts in Business Processes
Instruction & Assessment

Instructional Strategies:

  • Computer Based Training
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Other
  • Quizzes
  • Assignment

Minimum Passing Score:

70%
Supplemental Materials

Other offerings from UPI Study

(UPIS-0008)
(UPIS-0010)
(UPIS-0019)
(UPIS-0017)
(UPIS-0020)