Statistical Models for Busines

1 Credit · Level: Undergraduate

Students are expected to be already familiar with data analysis, probability and uncertainty, and basic statistical inference. We examine statistical model building for business processes for the purposes of understanding variability and making forecasts. A detailed development of multiple regression analysis is complemented by some study of time series analysis. The objective is to demonstrate the effectiveness of statistical modeling in guiding managerial decision-making. The statistical analysis of large data sets is an integral part of modern business practice. Accordingly, both spreadsheets and statistical software will be used throughout the course. Note: This course is designed for students who already have taken a first course in statistics. Formerly offered as DSCI 172.