Includes descriptive statistics, including numerical and graphical presentation of data, measures of central tendency and dispersion, elementary probability, index numbers and time series. Introduction to inferential statistics through selected topics such as sampling, confidence limits of the mean, hypotheses testing and simple linear regression. Spreadsheets are used for calculations.
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Upon successful completion of this course, the student will be able to:
Discuss the value of statistical information in a variety of business disciplines and work environments.
Assess statistical information portrayed in the media, work and educational environments.
Generate a spreadsheet to collect, collate, organize and analyze quantitative data.
Use spreadsheets and graphical techniques to present data in such a manner that it is understood by and meaningful to colleagues and clients.
Analyze data presented in frequency distributions, histograms and ogives.
Construct and use descriptive indices.
Apply the common rules of probability to evaluate business alternatives.
Construct and interpret a confidence interval estimate for a single population mean using both the standard normal and t distributions.
Establish and interpret a confidence interval estimate for a single population proportion.
Determine the required sample size for estimating a single population mean or proportion.
Carry out an appropriate hypothesis test on a single population mean or proportion.
Interpret the p-value of the test statistic.
Construct a contingency table and perform a chi squared test of independence.
Analyze simple two-variable problems using linear regression and correlation.
Interpret the results of a computer generated regression model.
Effective as of Fall 2003
OPMT 1130 is offered as a part of the following programs:
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