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Quantitative Methods and Decision Analysis |
Course Description
This course is designed to teach such topics as:
Data Presentation and Summary, Probability Theory, Normal Distribution, Random Sampling and Sampling Distributions, Point and Interval Estimation, Hypothesis Testing, Comparing Two Samples, Simple Linear Regression, Multiple Linear Regression
Course Objectives
- To develop an understanding of some basic statistical concepts
- To use simple statistical techniques to analyze real world data and make business decisions
- To become an informed and critical reader of quantitative arguments appeared in media and research reports
Course Outcomes
- To view statistics not as merely mathematics but instead a process that consists of collecting business information, performing statistical analysis, and making business decision
- To be proficient in some of the techniques used in statistical data collection, analysis and reporting
- To conduct hypothesis testing using appropriate statistical tests
- To build an appropriate multiple regression model to analyze business data and interpret its results
- To utilize software such as Minitab for statistical analysis
Course Plan
- Introduction-Fundamental Concepts in Data Analysis
- Summarizing Data
- A First Look at Probability
- Random Variables and Probability Distributions
- Some Special Probability Distributions
- Random Sampling and Sampling Distributions
- Point and Interval Estimation
- Hypothesis Testing I
- Hypothesis Testing II
- Comparing Two Samples
- Linear Regression and Correlation Methods I
- Linear Regression and Correlation Methods II
- Multiple Regression Methods I
- Multiple Regression Methods II
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