TERM:  202122 Fall 
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 and handouts: The lectures make use of presentation software;
PDFs of slides will be available for downloading and printing from the
Moodle site. There will be other handouts/manuals/tutorials for you on
Moodle with examples and business cases.
Course Website: BUSI 320 on Moodle (http://moodle.kingsu.ca)
Textbooks: Students are expected to have one of the following textbooks; either physical or digital format is acceptable.
 Essentials of Business Statistics, 5th Edition, Bruce L. Bowerman,
Richard T. O’Connell, Emily S. Murphree, J.B. Orris. Published by
McGrawHill Education, 2015 (ISBN 9780078020537); new text
books are available at the King’s bookstore; the used ones might
be purchased online and you can rent a digital version of this text
from the publisher.
4
th edition works as well
 Statistics for Business and Economics, 13th Edition, David R.
Anderson, Dennis J. , Thomas A. Williams, Jeffrey D. Camm, James J.
Cochran. Published by SouthWestern College Pub, 2016 (ISBN 978
1305585317).

MARK DISTRIBUTION IN PERCENT: 

Attendance and in class problem solving  10% 
Lab  25% 
Midterm Exam 
25% 
Final Exam 
40% 



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
  Graphically Summarizing Quantitative Data
  SteamandLeaf Displays
  Misleading Graphs and Charts
 Numerical Methods
  Describing Central Tendency
  Percentiles, Quartiles, and BoxandWhiskers Displays
 Review
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
 Review
Part 3: Continuous Probability Distributions
 The Uniform Distribution
  The Normal Probability Distribution
 Review
Part 4: Sampling & Sampling Distributions
 Random Sampling
  The Sampling Distribution of the Sample Mean
  The Sampling Distribution of the Sample Proportion
  Surveys and Errors in Survey Sampling
 Review
Part 5: Statistical Inferences Methods
 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 and t Test about a Population Mean
  zTest about a Population Proportion
 Review
Part 6: Statistical Inferences Based on Two Samples
  Comparing Two Population Means
  Paired Difference Experiments
  Comparing Two Population Proportions
  The FDistribution
  Comparing Two Population Variances
 Finishing Up and Review

LAB OUTLINE:   Tabular and Graphical Methods
 Numerical Descriptive Statistics 1
 Numerical Descriptive Statistics 2
 Discrete Probability Distributions
 Binomial Distribution Using Excel
 Poisson Probability Using Excel
 Random Numbers
 Normal Distribution Using Exce
 Confidence Intervals Using Excel
 OneSample Hypothesis Testing
