Quantitative Analysis
(Complete Item Description)
- Abstract:
This course is designed to introduce you to quantitative analysis (QA), or the application of statistics in the workplace. The student will learn how to apply statistical tools to analyze data, draw conclusions, and make predictions of the future. Upon successful completion of this course, the student will be able to: Explain the importance of statistics to business; Explain the differences between quantitative and qualitative data; Define the following terms: data sets, mean, median, mode, standard deviation, and variance; Summarize data in a tabular format using frequency distributions and visually with histograms; Describe the concept of a probability distribution and the properties of different distributions; Describe the effect of skewness on distributions; Define what an outlier is and describe what it can do to summaries of data; Differentiate between discrete and continuous probability distributions; Define the concept of a random variable and the Law of Large Numbers; Differentiate the population from a sample; Define simple random sampling; Explain how to avoid selection bias and sampling errors in survey sampling, such as selection and estimation errors, and apply these techniques; Relate the central limit theorem to sample size; Describe the different sampling methods, including systematic, stratified random, cluster, convenience, panel, and quota sampling, and give an example of each; Use a point estimator from a sample to estimate the entire population; Estimate intervals where the population parameter could exist; Test hypotheses using one-tailed and two-tailed tests; Differentiate between the null and alternative hypotheses in hypothesis testing; Relate the significance level to hypothesis testing; Define a region of acceptance based on a test statistic; Differentiate between dependent and independent variables; Plot a regression line and demonstrate an understanding of how the regression coefficient shapes that line; Work with statistical data in a spreadsheet environment. (Business Administration 204)
- Subject:
- Business
- Grade Level:
- Post-secondary
- Collection:
- Saylor Foundation