Business Statistics
Curriculum guideline
Lectures and seminars.
- Descriptive Statistics: frequency distributions, graphical displays, measures of central tendency, measures of dispersion.
- Probability: experiments, counting rules, assigning probabilities, events, complement, exclusion, intersection, union, addition law, conditional probability.
- Discrete Probability Distributions: expected value and variance, binomial distribution.
- Continuous Probability Distributions: uniform and normal probability distributions.
- Sampling Distributions: random sampling, sampling distribution of sample mean and sample proportion.
- Interval Estimation: means and proportions, small and large samples, determining sample size.
- Hypothesis Testing: formulating and testing a research hypothesis, I and II tailed tests about sample mean and proportion, Type I and II error.
- Statistical Inference with Two Populations (independent samples): interval estimation and hypothesis tests for difference between two means and between two proportions.
- Computer Analysis with Excel Spreadsheets: creation of spreadsheets, histograms, frequency tables, scatter charts, interval estimates, and use of probability distribution functions.
- Simple Linear Regression: least squares, model and assumption, R-Squared, prediction.
At the end of the course, the successful student should be able to:
- collect statistical data using appropriate sampling techniques;
- organize statistical data and calculate measures of central tendency and variation;
- calculate the probability of events when they are mutually exclusive, independent and dependent;
- use binomial and normal distribution to make probability estimates;
- set up confidence intervals for population means and proportions;
- use sample information to test statements or claims about parameters;
- use computer spreadsheets to solve statistical problems;
- use simple regression to determine significance of relationship between two variables.
| Final Exam | 30% |
| Term Examinations (2-3) | 40% - 50% |
| Computer Lab Test | 5% - 10% |
| Assignments (6-12) | 15% - 25% |
| Participation | 0% - 5% |
| 100% |
Note: Students must achieve a grade of at least 50% on the combined examination components to pass the course.
Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.
Textbooks and Materials to be Purchased by Students
Donnelly, Robert A. Jr.; Business Statistics, Latest Edition, Pearson; or
Sharpe, Norean R., De Veaux, Richard D. et al. Business Statistics, Latest Edition. Pearson; or
Other textbooks approved by the department.
Use of only Commerce and Business Administration faculty-approved calculators.
FINC 1231 or (Principles of Math 12 with a C or Pre-Calculus 12 with a C or equivalent) OR currently active in one of the following:
PBD Accounting
PBD Advanced Supply Chain Management
PBD Computer and Information Systems
PBD Digital Marketing
PBD Finance
PBD International Supply Chain Management
PDD Accounting
PDD Accounting Studies
PDD Data Analytics
PDD Financial Analysis
PDD Supply Chain Management
For PDD/PBD students who are not required to take FINC 1231 as a pre-requisite in their program, it is recommended that students engage in self-directed studies in Business Math or Algebra prior to taking this course. Free self-directed courses can be found on sites such as Cousera or edX. Free open texbooks can be found on BC Campus and Open Stax.