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Sep 07, 2024
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Catalog 2023-2024 [ARCHIVED CATALOG]
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BA 275 Quantitative Business Methods Lecture Hours: 4 Credits: 4
Presents management decision processes utilizing statistical methods. Includes use and application of probability concepts, sampling procedures, statistical estimation, and regression.
Prerequisite: MTH 095 with a grade of C or better; or consent of instructor. Student Learning Outcomes:
- Gather, analyze, interpret, and present statistical information used in the business environment to make management decisions.
Content Outline
- Quantitative Business Methods
- Fundamentals
- Terminology
- Types of data
- Collecting data
- Describing sets of data
- Graphical methods
- Time series plot
- Summation notation
- Central tendency
- Variability
- Standard deviation
- Relative standing
- Quartiles and box plots
- Bivariate relationships
- Distortions
- Probability
- Random variables and probability distributions
- Types
- Binomial distribution
- Normal distribution
- Sampling distributions
- Sample mean distribution
- Estimation with confidence intervals
- Large-sample confidence interval for a population mean
- Small-sample confidence interval for a population mean
- Large-sample confidence interval for a population proportion
- Determining sample size
- Tests of hypothesis
- Elements of the test
- Large-sample test about population mean
- P-values
- Small-sample test about population mean
- Large-sample test about population proportion
- Non-parametric test about population median
- Comparison/Analysis
- Two population means: independent sampling
- Two population proportions: independent sampling
- Contingency tables
- Simple linear regression
- Least squares approach
- Assumptions
- Estimating variance (02)
- Making inferences about the slope (B.)
- Coefficient of correlation
- Coefficient of determination
- Estimation and prediction
- Multiple linear regression
- Least squares approach
- Assumptions
- Inference about the B parameters
- R2 and Global F test
- Estimation and prediction
- Checking assumptions
- Pitfalls
- Estimability
- Multicollinearity
- Extrapolation
- Application to business problems
- Income estimation
- Cost estimation
- Sales forecasting
- Performance evaluation
- Inventory analysis and control
- Quality control
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