Prerequisite(s): MA 111 or equivalent Note: Not open to students who have previously taken ST 241 or MA 251 or GB 204 or GB 205 This course develops the basic descriptive and inferential statistical concepts and techniques useful in making a wide range of business decisions. Topics include graphical and numerical techniques for summarizing and describing qualitative and quantitative data; the nature of uncertainty and the basics of probability theory for describing and understanding that uncertainty such as expected value; and the concept of random models including the binomial and normal random variables. An introduction to random sampling and sampling distributions will be presented along with a discussion of the common statistical inference techniques used to analyze the sample data. Specific inferential topics include confidence intervals, hypothesis testing and regression analysis. Numerous examples of business related applications are emphasized throughout the course. The use of Excel for analyzing qualitative and quantitative data sets will be integrated throughout the course material.

Introductory probability and statistics for business students, particularly those who will take MGT 3100. Topics include descriptive statistics, probability, expectations, binomial, normal, sampling distributions, one and two sample estimation and testing. Preq: MATH 1060 or MATH 1070 or MATH 2070 or MATH 2100. Coreq: STAT 3091.