COURSE NUMBER AND TITLE: MATH 3110 Statistical Analysis for Business

CREDIT HOURS: 3

CATALOG DESCRIPTION: A study of frequency distributions of data, graphical and numerical summaries of data, basic probability, random variables and their probability distributions, sampling techniques and sampling distributions, estimation and hypothesis testing, simple linear regression and correlation, and statistical quality control and forecasting techniques. (Credit will not be given for both MATH2210 and MATH 3110.)

PREREQUISITE(S): MATH 1220

SUGGESTED TEXT(S): Statistics for Business and Economics, Anderson, Sweeney & Williams, 10th edition, Thompson and South Western, 2008.

COURSE OUTLINE:

  • Organizing Data – frequency distributions, histograms, stem-and-leaf displays, bar and circle graphs.
  • Averages and Variation – Measures of central tendency, measures of variation, measures of position, percentiles, box and whisker plots.
  • Elementary Probability Theory – Basic rules of probability, compound events, counting techniques.
  • Discrete Distributions – Binomial and Poisson distributions.
    • Continuous Distributions – Normal and Exponential distributions.
  • Introduction to Sampling Distributions – Concept of sampling distributions, central limit theorem.
  • Estimation – One sample confidence interval for population mean and proportion, sample size determination.
  • Hypothesis Testing – One sample test of hypothesis about population mean and proportion, test of paired difference, test of differences in population means and proportions.
  • Regression and Correlation – Scatter diagrams, linear regression and correlation, the coefficient of determination, inferences for correlation and regression.
  • Chi-square Distributions – Test of independence, goodness of fit.