BAB210 - Business Statistics

Outline information
Semester
Schools offering this subject
Last revision date Sep 8, 2020 8:41:30 AM
Last review date Sep 8, 2020 8:41:30 AM

Subject Title
Business Statistics

Subject Description
Mathematics is the cradle of all creations. Mathematical thinking provides a valuable way of seeing and exploring the world. Qualities that are nurtured by mathematics are power of reasoning, creativity, critical thinking, problem-solving ability and even effective communication skills.

This is a one-semester statistics course that is designed to introduce students to statistical methods of collection, analysis, and presentation of quantitative data. Through the process of applying statistical methods, the ability to interpret quantitative data used for making generalizations, projections, and decisions, under uncertain conditions is developed. Emphasis will be on the use of both descriptive and inferential statistical techniques within the workplace. Learner will utilize spreadsheet software to present and analyze data. 

Credit Status
One degree level credit

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Summarize data created from a spreadsheet in the form of graphs, tables, charts, and written description.

2. Calculate measures of location and dispersion by applying knowledge of spreadsheet software methods.

3. Differentiate between subjective, relative and classical frequency probabilities.

4. Calculate using spreadsheet software the means and standard deviation of discrete random variable, binominal distribution and normal probability distribution.

5. Calculate using spreadsheet software the mean, standard error of random variables, and sampling distribution of the mean.

6. Compute the sample size to estimate the population mean and proportion.

7. Interpret the results of financial data through the calculation of confidence interval for the population mean and for population proportion.

8. Evaluate results through the construction of a hypothesis test of a mean or proportion for large sample size.

9. Interpret simple regression and correlation analysis that has been calculated using spreadsheet software.

10. Accept responsibility for developing effective participation strategies for working independently.

11. Demonstrate computer skills through the application of statistical software.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Execute mathematical operations accurately.

Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.