This course aims to provide an opportunity for business students to understand and appreciate the broad use of statistics and probability in business world. The objectives are to demonstrate how to summarize, present and analyze data using commonly available statistical computing tools and to introduce the principles and procedures of statistical theories, which are important for making business decisions. The emphasis here is on developing the ability to effectively communicate statistical data and the results of analysis.

CILO-1: Interpret statistical data, organize and visualize it through tabulation and graphical displays, and summarize using appropriate statistical measures. CILO-2: Explain probability concepts, commonly used statistical distributions, and their applications. CILO-3: Explain the statistical properties of point and interval estimation, as well as testing procedures. CILO-4: Conduct one-sample, two-sample, and multi-sample parametric tests. CILO-5: Implement linear regression analysis in a business context and examine data using appropriate statistical techniques to solve problems and assess results. CILO-6: Demonstrate knowledge of performing one-sample and two-sample parametric tests. CILO-7: Analyze relevant data effectively using appropriate statistical techniques to solve the problems and evaluate the results in the context of the problems.