This course introduces business students to the terminology, uses and underlying theory in the areas of data summarization and description, basic probability concepts and distributions, sampling methods and sampling distribution, hypothesis testing, analysis of variance, regression and correlation, and nonparametric methods. The course improves the students awareness and ability in incorporating statistical considerations into the decision-making process and provides them with experience in using statistical software to assist in the quantitative analysis of business problems. Fall and Spring.

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.