- Course type: Self-paced
- Available Lessons: 120
- Average Lesson Length: 8 min
Eligible for Certificate:
Certificates show that you have completed the course. They do not provide credit.
Watch a preview:chapter 1 / lesson 1Application of Statistics in Business
Course SummaryAccess engaging video lessons to help you develop an understanding of statistical concepts and analytical practices with this Business 212: Business Statistics course. Improve your knowledge to prepare for business class exams or discussions, study for college entrance exams or enhance your work performance.
To Start This Course Today
Try it risk-free for 30 days
Course Practice TestCheck your knowledge of this course with a 50-question practice test.
- Comprehensive test covering all topics
- Detailed video explanations for wrong answers
About This Course
Explore introductory and more advanced concepts in business statistics with the use of this course. Learn about probability, sampling, statistical models and more. Better understand how statistics are applied in business settings and the use of formulas, methods and charts used in the field of statistics. Take self-assessment quizzes to determine how much you have retained from each lesson and use online forms to contact instructors with any lesson-specific questions. Easily schedule your study time with 24/7 accessibility from any device.
High school and college business students would benefit most from these lessons and could reference them to study for exams or research a project. Instructors, too, could draw useful information from this course that they could add to their existing business class curriculum. Finally, business professionals could refer to this material if they need to brush up on concepts they might need to know to complete job tasks.
|Introduction to Business Statistics||Describes the business applications of statistical formulas and concepts. Defines relevant terms such as bivariate data and random variables. Explains software used in statistical analysis.|
|Introduction to Categorical Data||Defines categorical data and details the use of bar charts and tables to summarize this type of data.|
|Descriptive Statistics: Measurement||Discusses how to calculate mean values, make estimations, find percentiles and measure dispersion and skewness. Provides information about formulas used to find quartiles, and deciles in a data set.|
|Descriptive Statistics: Representation||Explains how to create and explain the use of box plots, dot plots, scatterplots and histograms. Lists the characteristics of visual representations of a data set.|
|Measures of Dispersion in Business||Illustrates how to calculate variance and standard deviation. Shows techniques on how to use normal distributions.|
|Measures of Association & Correlation in Business||Describes how to differentiate correlation and causation, and details the role of a correlation coefficient.|
|Probability for Business Statistics||Relates how to use multiplication and addition to calculate probability and interpret Venn and tree diagrams. Explains how to use Bayes Theorem to revise probabilities, and compute the number of possible outcomes in a situation.|
|Probability Distributions for Business Statistics||Compares discrete and continuous data. Relates how to compute the expected value and variance of a probability distribution, and apply these concepts business problems.|
|Sampling Methods for Statistics||Differentiates between populations and samples. Defines random sampling. Defines and describes formulas used for stratified random, cluster random and systematic random samples.|
|Confidence Intervals||Details how to find confidence intervals, determine sample sizes for validity purposes and defines degrees of freedom.|
|Hypothesis Testing in Business||Lists steps in the hypothesis testing process. Identifies types of errors that impact statistics. Relates what type of information hypothesis testing reveals, and compares Z and T tests.|
|Analysis of Variance||Shows how Analysis of Variance (ANOVA) is used to compare two or more populations.|
|Nonparametric Methods in Statistics||Analyzes nonparametric methods and explains the use of chi-square tests and two-way tables.|
|Regression Analysis||Describes how to conduct a regression analysis. Explains the process of analyzing residuals. Discusses simple linear regression and how to solve problems using linear regression formulas.|
|Understanding Business Forecasting||Explains how to use statistical processes to make forecasts and support business decision making. Defines forecasting in business and indexes.|
|Using Control Charts in Business||Describes the use of control charts to identify patterns and details different types of control charts, such as those used for attributes and variables.|
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Research Schools, Degrees & Careers
Get the unbiased info you need to find the right school.
Browse Articles By Category
Browse an area of study or degree level.
- Biological and Biomedical Sciences
- Communications and Journalism
- Computer Sciences
- Culinary Arts and Personal Services
- Liberal Arts and Humanities
- Mechanic and Repair Technologies
- Medical and Health Professions
- Physical Sciences
- Transportation and Distribution
- Visual and Performing Arts
- International Business Courses and Classes
- Flip Your Classroom with Study.com's Engaging Video Lessons
- Do I Have to Take College Entrance Exams to Earn Transfer Credit?
- How Can Parents Help Their Students Prepare for a College Readiness or AP Exam?
- Business Analytics Graduate Programs
- Top College in Westminster, CO, for Business Classes
- Business Psychology Courses and Classes Overview
- Business Administration Classes and Courses Overview
- Business Leadership Courses and Classes Overview
- Global Business Strategy Classes and Courses
- Answers and detailed explanations to each question
- Video lessons to explain complicated concepts
Explore our library of over 75,000 lessons
- College Courses
- High School Courses
- Other Courses