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Sep 12, 2024
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MTH 2450 - Business Statistics and Analytics4 lecture hours 0 lab hours 4 credits Course Description Managerial decisions frequently involve some level of uncertainty. This course is designed to acquaint students with probabilistic and statistical methods that can be used in decision-making. Topics include probability, random variables, probability distributions, tests of hypotheses, experimental designs, and linear regressions. Prereq: MTH 1050 or MTH 1080 or placement into MTH 2450 (quarter system prereq: MA 120 or placement into MTH 2450) Note: Students may receive credit for only one of MTH 2430 , MTH 2450, and MTH 2480 . This course is not available to students with credit for MTH 2410 or IND 2030 . This course meets the following Raider Core CLO Requirement: Think Critically Course Learning Outcomes Upon successful completion of this course, the student will be able to:
- Apply basic probability concepts and counting techniques
- Formulate events from statements in various applications
- Apply Venn diagrams to identify sets or compute probability of events
- Evaluate conditional probability and implement multiplication rule
- Apply Bayes’ Theorem
- Evaluate measures of central tendency and dispersion of a set of observations
- Recognize and utilize binomial and normal distributions
- Discern joint distributions of random variables
- Differentiate dependent random variables from independent random variables
- Visualize and identify outliers or any anomaly in data
- Provide point estimation for sample mean and sample variance, and interval estimation for population mean and population proportion
- Interpret reported statistics
- Distinguish type I and type II errors and provide examples
- Conduct hypothesis tests about one population mean, population proportion, and population variance
- Perform hypothesis tests about difference of two parameters
- Distinguish between linear relationship, nonlinear relationship, and no relationship for a sample of observations
- Compute and interpret Pearson’s correlation coefficient
- Construct simple linear regression from sample points
- Validate the fit of regressions
Prerequisites by Topic
- Evaluation of algebraic formulas
Course Topics
- Multiplication rules and Bayes’ theorem
- Independence of events
- Discrete random variables and continuous random variables
- Probability distributions
- Measures of central tendency and dispersion
- One-sample hypothesis testing and statistical inference
- Two-sample hypothesis testing and statistical inference
- Linear regressions
- Analysis of variance (if time permits)
Coordinator Dr. Yu-Sin Chang
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