Business Statistics is a fundamental course that focuses on applying statistical techniques and methods to solve business-related problems and make informed decisions. It covers the collection, analysis, interpretation, and presentation of data relevant to business operations and strategies. The key topics typically include:
1) Data Collection and Sampling: Understanding how to collect data, choose appropriate sampling techniques, and ensure the data is representative of the population.
2)Descriptive Statistics: Analyzing and summarizing data using measures such as mean, median, mode, variance, standard deviation, and graphical representation.
3)Probability Theory: Introducing concepts of probability and its applications in business decision-making and uncertainty assessment.
4)Probability Distributions: Studying various probability distributions like normal, binomial, and Poisson, and their relevance to business scenarios.
5)Statistical Inference: Learning hypothesis testing, confidence intervals, and making conclusions about populations based on sample data.
6)Correlation and Regression Analysis: Understanding the relationship between variables and using regression analysis to predict outcomes based on specific input variables.
7)Statistical Decision Making: Using statistical analysis to support business decisions, optimize processes, and improve overall organizational performance.
Overall, the course equips students with the knowledge and skills to utilize statistical methods to interpret and analyze business data, aiding in better decision-making and strategic planning.
1) Data Collection and Sampling: Understanding how to collect data, choose appropriate sampling techniques, and ensure the data is representative of the population.
2)Descriptive Statistics: Analyzing and summarizing data using measures such as mean, median, mode, variance, standard deviation, and graphical representation.
3)Probability Theory: Introducing concepts of probability and its applications in business decision-making and uncertainty assessment.
4)Probability Distributions: Studying various probability distributions like normal, binomial, and Poisson, and their relevance to business scenarios.
5)Statistical Inference: Learning hypothesis testing, confidence intervals, and making conclusions about populations based on sample data.
6)Correlation and Regression Analysis: Understanding the relationship between variables and using regression analysis to predict outcomes based on specific input variables.
7)Statistical Decision Making: Using statistical analysis to support business decisions, optimize processes, and improve overall organizational performance.
Overall, the course equips students with the knowledge and skills to utilize statistical methods to interpret and analyze business data, aiding in better decision-making and strategic planning.
- Instructor: Apostolos-Panagiotis Sioros