Course Type: Recognized Prior Learning Granted for MBA Degree Holders
Course Code: DBA807
Course Name: Business Statistics
Course Outline
This course is designed for students who are thinking of doing a research project in business administration. Business Statistics is an introductory course in which the focus is on statistical inference: how to make valid conclusions based on data from random samples. At the heart of the main problem addressed by the course will be a population- connected with which there is a numerical quantity of interest. If students could talk to each member of the population, they could calculate that number exactly. But what if the population is so large that a student’s resources will not stretch to interviewing every member? What if a student can only reach a subset of the population? This course will discuss good ways to select the subset; how to estimate the numerical quantity of interest, based on what is seen in the sample; and ways to test hypotheses about numerical or probabilistic aspects of the problem. The methods that will be covered are among the most commonly used of all statistical techniques; although there will be no mindless memorization of formulas and methods. Throughout the course, the emphasis will be on understanding the reasoning behind the calculations, the assumptions under which they are valid, and the correct interpretation of results.