This course provides the basis for mathematical analysis and interpretation of business information. Beginning with algebra, the course moves through linear equations, statistical measurements, regression analysis, and statistical techniques for sampling, hypothesis testing, and probability. Much of the course uses examples from accounting, finance, human resources, and marketing.

Course description

This course is to provide MBA students with a fundamental knowledge of statistical theory and apply that theory to decision-making situations by means of examples and problems. The focus of this course is to apply quantitative methods using examples from accounting, MIS, finance, human resources, production, services, SCM, and marketing.

Learning outcomes

Upon completing the course the student should have a working knowledge of the following quantitative and qualitative skills: 

• Understanding data attributes 
• Descriptive statistical techniques and data analysis 
• Probability and Probability Distributions
• Discrete and Continuous Random variables
• Confidence intervals
• Hypothesis testing
• Statistical Inferences regarding one and two populations
• Analysis of Variance
• Linear and multiple regression
• Categorical data analysis
• Ability to use statistical software package for decision making
• Ability to write and present managerial report 

Course outline 

• Data and Statistics 
• Descriptive statistics: Tabular and Graphical Methods
• Descriptive Statistics: Numerical measures
• Making Data Meaningful
• Introduction to Probability  
• Discrete Probability Distributions
• Continuous Probability Distributions
• Sampling and Sampling Distributions
• Interval Estimation
• Hypothesis testing
• Multiple Regression: Model building and analysis 

Text Book

Anderson, Sweeney and Williams. Essentials of Statistics for Business and Economics, 6th edition, Thomson, 2011 or latest version 2012. 
(The book can be purchased from the USP Book Centre)