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Jul 31, 2025
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BUS 2600 - STATISTICS FOR BUSINESS AND ECON
credits: 3.0
Crosslisted/Same As: ECO 2600
BUS 2600-ECO 2600 Statistics enables managers and policy makers to make decisions under uncertainty by relying on insights based on real world data. These insights are generated by using various statistical tools that range from graphical displays of data to sophisticated statistical tests and models. Students use real-world business and economic data sets and Microsoft Excel to describe sets of measurements, construct probability distributions, estimate numerical descriptive measures, and build multiple regression models. Objectives: A) Describe data sets by creating different types of charts; B) Compute and explain measures of central tendency and variability; C) Use probabilities to describe and assess random events; D) Define random variable and compute summary statistics; E) Formulate and solve business and economic problems using discrete probability distributions, continuous probability distributions, and sampling distributions; F) Construct and interpret confidence intervals for the population mean and proportion; G) Perform tests of hypotheses for the population mean; H) Evaluate categorical data using a chi-square test; I) Construct and estimate regression models (simple and multiple) using Excel, interpret the regression output, assess the usefulness of the model, and use the model for predictions. Method of Instruction: Lectures and in-class problem solving. Method of Evaluation: Homework problems, quizzes, tests, final project, and presentation. Meets *MQR Distribution Requirements.
Prerequisite(s): MAT 1030 - COLLEGE ALGEBRA (or) MAT 1060 - MODELING THE REAL WORLDWITH MATHEMATICS (or) MAT 1091 - PRE-CALCULUS I (or) MAT 1092 - PRE-CALCULUS II (or) MAT 2010 - CALCULUS I (or) MAT 2020 - CALCULUS II (or) MAT 1930 - IMMERSION COLLEGE ALGEBRA (or) MAT 1090 - PRECALCULUS (or) ALEKS score of > 46 will also be required.
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