Elementary Business Statistics

Elementary Business Statistics is the first level statistics class required for all Business and Economics majors and can be used to satisfy the statistics requirement in other departments if you are enrolled as a for-credit OU-student. It is designed as an introductory course to statistics theory and methodology. The foundation of statistical inference is first developed through coverage of descriptive statistics and then close coverage of probability theory and probability density functions: specifically the binomial, Poisson, geometric, and normal distributions. The leap from probability theory to actual inferential statistics by way of the Central Limit Theory is accomplished with the use of a gaming model in which students actively participate to solve a constrained goals a constrained goal that requires an understanding of the link between the Central Limit Theorem and the sample size. Confidence internals and Hypothesis testing follow with careful development of both the theory and philosophy of the hypothesis test. Specific hypotheses are covered including test for means, proportions, differences in mean and differences in proportions, and for variances. Finally correlations and regression are covered in detail. The foundation OLS model is developed and students will be able to propose and test various hypotheses concerning a causal relationship assumed to be linear. For credit Oklahoma University students will have the opportunity to interact with face2face teaching assistants once per week in regularly scheduled lab classes.