Business Statistics I
Office: Redcay 126
OH: MW 12-1; TTh 8-9:30 (email)
Professor Neal Duffy
This is a problem-solving course designed to teach statistical analysis applied to business,
economics, and social problems.
Statistics deals with uncertainty, and because uncertainty is a
significant part of the business environment, an understanding of statistics is integral to all areas of
business and economics.
Business and economic analysis therefore requires that you achieve a
certain comfort level with numerical analysis of many forms; it also requires a familiarity with
Quantitative skills can make the difference between a good and an average manager,
accountant, or economist. This is the first course in the two-course statistics sequence in the
School of Business and Economics (Business Stat I and II).
Career counselors suggest that if you
are considering graduate education, you should take as many statistics, computer, and math
courses as you possibly can, and should obtain at least a 'B' in each of them.
in the areas of business, economics, and finance require much more math and statistics than the
Data analysis - descriptive statistics, correlation, contingency tables
Graphical and tabular presentation
Discrete probability distributions
Continuous probability distributions
Probability theory and applications
TEXT and CALCULATOR
The text used for both Stat I and Stat II is
Modern Business Statistics
Sweeney, and Williams, 3rd edition (ISBN #978-0-324-59827-8).
We will be referring to it often,
and you may therefore find it useful to bring the text to class.
Even-numbered answers (and a few
odd-numbers) to chapter problems are found in Appendix D, while several probability distribution
tables are in Appendix B.
It would not be wise to discard the textbook at the end of this semester.
Every business professional should have at least one Stat book on their shelf.
is not a separate category of business, but is related to every area of business: marketing,
management, accounting, economics, and finance.
Calculators with statistics functions are recommended, but not required.