This course integrates applied business research, with descriptive, and inferential statistics. Students will learn to apply business research, descriptive, and inferential statistics in making data-driven business decisions. Topics include the examination of the role of statistics in business, statistic terminology, literature review, sampling design, the appropriate use of statistical techniques, and the interpretation of statistical findings.
This undergraduate course is 5 weeks.
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.
- Examine the role of statistics and how they are useful for making managerial decisions.
- Employ key research and statistical concepts – population versus sample, descriptive statistics versus inferential statistics, parameter versus sample statistic, categorical and continuous variables, levels of measurement, and qualitative versus quantitative data.
- Contrast the various probability and non-probability sampling methods.
- Evaluate tables and charts that organize and display quantitative versus qualitative business data.
- Discuss various measures of central tendency – mean, median, and mode.
- Employ various measures of variation – range, variance, and standard deviation.
- Examine skewness of a distribution.
- Interpret percentiles, quartiles, and the five-number summary.
- Explain probability and why it is useful in making business decisions.
- Analyze different approaches to assigning probability.
- Identify the different probability distributions.
- Contrast the difference between discrete and continuous random variables.
- Evaluate the mean and variance of probability distributions.
- Summarize the role and application of the binomial distribution.
- Apply normal distribution to calculate probabilities and expected values.
- Analyze normal distribution to find probabilities and determining values.
- Evaluate confidence interval estimation of means and proportions.
- Describe confidence interval estimation of means and proportions.
- Define a hypothesis.
- Apply the six-step process for testing a hypothesis.
- Understand the difference between a one-tailed and two-tailed test of significance.
- Interpret results using the p-value approach.
- Test hypotheses for means (sigma known and unknown).
A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.
This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.
MTH/219T – Introduction to College Algebra or equivalent
During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course please contact an enrollment representative at 866-345-1800.
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While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with an Enrollment Representative.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
If you have a question contact us at 866-345-1800.