COURSE NUMBER: 
BUSI 320 
COURSE TITLE: 
Statistics for Business 
NAME OF INSTRUCTOR: 
Dr Tetyana Khramova 
CREDIT WEIGHT AND WEEKLY TIME DISTRIBUTION: 
credits 3 (hrs lect 3  hrs sem 0  hrs lab 1.5) 
COURSE DESCRIPTION: 
This
course is an introduction to statistical methods and their application
to business decisionmaking. Descriptive statistics, frequency
distributions, probability and probability distribution, sampling
distributions, statistical inference on means and proportions are
examined. Handson experience in using a statistical analysis software
package is provided. Students are expected to have basic familiarity
with computer applications including spreadsheets.
Prerequisites: Mathematics 302 
REQUIRED TEXTS: 
Lecture
notes: The lectures make use of presentation software; PDFs of the
slides will be available for download and printing from the Moodle site.
Textbooks:
 Essentials of Business Statistics, 5th Edition, Bruce L. Bowerman,
Richard T. O’Connell, Emily S. Murphree, J.B. Orris. Published by
McGrawHill Irwin, 2015
 Business
Analytics: Data Analysis & Decision Making, 6th Edition, S.
Christian Albright, Wayne L. Winston. Published by Nelson Education
Ltd., 2016
Online References: Free statistics textbook by StatSoft: http://www.statsoft.com/textbook 
MARK DISTRIBUTION IN PERCENT: 

Assignments 
15% 
Lab  20% 
Midterm Exam 
30% 
Final Exam 
35% 

100% 

COURSE OBJECTIVES: 
At the end of this course you will be able to:
 Demonstrate an understanding of what “statistics” is
 Identify the role of statistics in business operations, analysis, etc.
 Analyze the advantages and drawbacks of different methods of viewing and describing data
 Understand how probability, distributions, and hypothesis testing are used in statistics
 Become familiar with some methods of regression analysis
 Interpret the results of statistical analyses and draw conclusions
The laboratory component of this program will enable you to:
 Enhance
your understanding of the various concepts covered in class, by getting
firsthand experience in conducting statistical analyses
 Become familiar with computerbased statistical analysis.

COURSE OUTLINE: 
An Introduction to Business Statistics Part 1: Descriptive Statistics
 Tabular and Graphical Methods
 Graphically Summarizing Qualitative Data
 Pareto Charts
 Graphically Summarizing Quantitative Data
 SteamandLeaf Displays
 Contingency Tables
 Scatter Plots
 Misleading Graphs and Charts
 Numerical Methods
 Describing Central Tendency
 Percentiles, Quartiles, and Whiskers Displays
Part 2: Probability & Probability Distributions
 The Concept of Probability
 Sample Spaces and Events
 Some Elementary Probability Rules
 Conditional probability and Independence
 Discrete Random Variables
 Two Types of Random Variables
 Discrete Probability Distributions
 Binomial Distributions
 Poisson Distributions
 Continuous Probability Distributions
 The Normal Probability Distribution
 Sampling & Sampling Distributions
 The Sampling Distribution of the Sample Mean
 The Sampling Distribution of the Sample Proportion
 Surveys and Errors in Survey Sampling
Part 3: Confidence Intervals & Hypothesis Testing
 Confidence Intervals
 zBased Confidence Intervals
 t Based Confidence Intervals
 Sample Size Determination
 Confidence Intervals for a Population Proportion
 Hypothesis Testing
 The Null and Alternative Hypotheses
 Errors in Hypothesis Testing
 zTest about a Population Mean
 t Test about a Population Mean
 zTest about a Population Proportion
 The ChiSquare Distribution
Part 4: Statistical Inferences Methods
 Statistical Inferences Based on Two Samples
 Comparing Two Population Means
 Paired Difference Experiments
 Comparing Two Population Proportions
 Comparing Two Population Variances
 ChiSquare Tests
 ChiSquare GoodnessofFit Tests
 A ChiSquare Test of Independence
 Finishing Up and Review

LAB OUTLINE:   Statistical methods on Excel
 Tabular and Graphical Methods
 Numerical Descriptive Statistics
 Discrete Probability Distributions
 Binomial Distribution Using Excel
 Poisson Probability Using Excel
 Normal Distribution Using Excel
 Random Numbers
 Confidence Intervals Using Excel
 OneSample Hypothesis Testing
 TwoSample Hypothesis Testing
