COMM_V 191 - Application of Statistics in Business

Course Description

Methods and applications of statistics in business; data analysis, descriptive regression; data generation; sampling distributions; hypothesis testing; confidence intervals; two sample problems; inference in regression.

Responsible Business Content

This course incorporates responsible business perspectives through the application of statistical methods to business and societal challenges, including infrastructure and innovation, equity and inclusion, and environmental sustainability (Industry, Innovation and Infrastructure, Reduced Inequalities, and Climate Action).

Learning Objectives

• Interpret and critically evaluate data using appropriate graphical, numerical, and statistical methods.

• Apply statistical inference techniques to draw evidence-based conclusions and assess uncertainty in business and real-world contexts.

• Develop and interpret regression models to explain relationships between variables and make informed predictions.

• Select appropriate statistical methods to analyze data and solve business and analytical problems.

• Communicate statistical findings effectively and critically assess the validity, limitations, and implications of data-driven conclusions.

Prerequisite: One of COMM_V 190, COMM_V 290