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Milwaukee School of Engineering

Oct 19, 2017

# MA 340 - Business Statistics

4 lecture hours 0 lab hours 4 credits
Course Description
Almost all managerial decisions involve some amount of uncertainty. This course is designed to acquaint the student with some of the statistical methods that can be used to help make these decisions. Topics covered are probability, probability models, estimation, tests of hypotheses, analysis of variance, and regression. Note: This course is open only to students in the Rader School of Business. (prereq: MA 120  or equivalent)
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
• Set up a frequency distribution
• Compute the mean and standard deviation of a set of numbers
• Determine probabilities of specific events
• Recognize and use the binomial and normal probability distributions
• Test a hypothesis about means and the binomial parameter ‘p’
• Estimate the mean of a population and the parameter ‘p’
• Understand analysis of variance and be able to calculate linear and multiple regression using Microsoft® Excel*. *Microsoft is a registered trademark of Microsoft Corporation in the United States and/or other countries

Prerequisites by Topic
• Algebra

Course Topics
• Introduction
• Probability
• Discrete probability distributions
• Binomial distribution
• Poisson distribution
• Hypergeometric distribution
• Continuous probability distributions
• Normal distribution
• Exponential distribution
• Sampling
• Hypothesis testing
• Estimating mean and variance
• Estimating proportion
• Analysis of variance
• Regression

Coordinator
Edward Griggs