STAT 1050 - Statistical Methods in Business

Academic Division:

Liberal Arts

Academic Discipline:

Statistics

Assistant Dean: Steve Haynes PhD

3 Credit(s)
This course presents a study of basic concepts and practices of statistics as they relate to business. The course includes descriptive statistics, probability, statistical distributions, sampling, estimation, and hypothesis testing. Other topics include correlation, regression, process improvement using control charts, index numbers, and time series analysis. Successful completion of MATH 0084 with a grade of C- or better or a COMPASS Algebra score of 65 or higher or ACT Math score of 22 or higher required. UG

3 Lecture Hour(s);

Required Prerequisite Course(s): MATH 0084 or higher with a grade of C- or better or COMPASS Algebra score of 52 or higher or ACT Math score of 22 or higher oe ACCUPLACER College Level Math score of 30 or higher required.

College Wide Outcomes

College-Wide Learning Outcome	Assessments - - How it is met & When it is met
Communication – Written
Communication – Speech
Intercultural Knowledge and Competence
Critical Thinking
Information Literacy
Quantitative Literacy

Student Learning Outcomes for Course

Outcomes	Assessments – How it is met & When it is met
1. Summarize and display raw data with charts and tables and calculate measures of central tendency and dispersion.	HW, Tests, final exam Weeks 1,2,3,4 and 16
2. Compute probabilities using counting methods, probability rules, and by use of normal, binomial, hypergeometric, and Poisson methods.	HW, Tests, final exam Weeks 5,6, 7, 8 and 16
3. Design sampling plans for random, stratified, or cluster sampling using random numbers.	HW, Tests, final exam Weeks 8 and 16
4. Compute statistics of sampling distributions.	HW, Tests, final exam Weeks 8 and 16
5. Compute point and interval estimates and/or sample sizes to meet specified standards.	HW, Tests, final exam Weeks 9,10,12 and 16
6. Formulate and test hypotheses concerning means and proportions.	HW, Tests, final exam Weeks 10,11,12 and 16
7. Construct two-variable scatter diagrams, find the best fit least squares regression line, and compute the coefficient of correlation	HW, Tests, final exam Weeks 12 and 16
8. Interpret process control charts to draw conclusions.	HW, Tests, final exam Weeks 13 and 16
9. Recognize and compute business and economic indices using indexed numbers.	HW, Tests, final exam Weeks 14 and 16
10. Produce time series number charts and graphs.	HW, Tests, final exam Weeks 15 and 16

Standard Grading Scale
93-100 A

90 - 92 A-

87- 89 B+

83 - 86 B

80 -82 B-

77- 79 C+

73 - 76 C

70 -72 C-

67- 69 D+

63 - 66 D

60 -62 D-

00- 59 F

Statement on Diversity
North Central State College believes that every student is a valued and equal member of the community.* Every student brings different experiences to the College, and all are important in enriching academic life and developing greater understanding and appreciation of one another. Therefore, NC State College creates an inclusive culture in which students feel comfortable sharing their experiences. Discrimination and prejudice have no place on the campus, and the College takes any complaint in this regard seriously. Students encountering aspects of the instruction that result in barriers to their sense of being included and respected should contact the instructor, assistant dean, or dean without fear of reprisal.

*Inclusive of race, color, religion, gender, gender identity or expression, national origin (ancestry), military status (past, present or future), disability, age (40 years or older), status as a parent during pregnancy and immediately after the birth of a child, status as a parent of a young child, status as a foster parent, genetic information, or sexual orientation,

Standard NCSC Course Policies
Important information regarding College Procedures and Policies can be found on the syllabus supplement located at this link