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Ch 71: CEOE Business Education: Basic Statistics for Business

About This Chapter

Look over this chapter to refresh your memory on fundamental statistics. These video and text lessons are aligned with CEOE Business Education exam content.

CEOE Business Education: Basic Statistics for Business - Chapter Summary

Statistical significance and standard deviation make up some of the lessons' content in this chapter. Double-check your familiarity with these and other statistics concepts as you're preparing for the CEOE Business Education test though lessons on:

  • Probability of simple, compound and complementary events
  • The formula for finding expected value in probability
  • Probability of independent and dependent events
  • Normal distribution and shifts in the mean
  • Identifying and calculating averages
  • Uses of index numbers in statistics
  • Finding percentiles in a data set

You have the flexibility of being able to examine the video lessons on a number of different devices according to what works best for you, including laptops and mobile deices. Upon completion of a lesson you can take a quick practice quiz to verify your content knowledge.

Objectives of the CEOE Business Education: Basic Statistics for Business Chapter

The CEOE Business Education exam assesses if you have the subject expertise that qualifies you for certification as a business teacher in Oklahoma. The test is divided into five subsections and includes a total of 80 multiple-choice questions and one constructed-response question. Your review of this chapter will help get you ready for test questions in the Economics and Finance subarea; this section makes up 17% of the test.

9 Lessons in Chapter 71: CEOE Business Education: Basic Statistics for Business
Test your knowledge with a 30-question chapter practice test
Calculating the Standard Deviation

1. Calculating the Standard Deviation

In this lesson, we will examine the meaning and process of calculating the standard deviation of a data set. Standard deviation can help to determine if the data set is a normal distribution.

Probability of Simple, Compound and Complementary Events

2. Probability of Simple, Compound and Complementary Events

Simple, compound, and complementary events are different types of probabilities. Each of these probabilities are calculated in a slightly different fashion. In this lesson, we will look at some real world examples of these different forms of probability.

Probability of Independent and Dependent Events

3. Probability of Independent and Dependent Events

Sometimes probabilities need to be calculated when more than one event occurs. These types of compound events are called independent and dependent events. Through this lesson, we will look at some real-world examples of how to calculate these probabilities.

Statistical Significance: Definition & Calculation

4. Statistical Significance: Definition & Calculation

Watch this video lesson to learn about statistical significance, and how it relates to surveys and other real world events. Also, learn how it is calculated, and how you can describe it to others.

Expected Value in Probability: Definition & Formula

5. Expected Value in Probability: Definition & Formula

After watching this video lesson, you will understand what expected value means. You will learn how to use this value to decide whether a certain action is worth taking or not.

Normal Distribution & Shifts in the Mean

6. Normal Distribution & Shifts in the Mean

In this video lesson, you will see what a normal distribution looks like and you will learn about the mean of a normal distribution. You will also see what happens when the mean is shifted.

Identifying & Calculating Averages

7. Identifying & Calculating Averages

After watching this video lesson, you will be able to calculate any kind of average, even the average of certain events when some events repeat. Learn the general formula to use to calculate any average.

Finding Percentiles in a Data Set: Formula & Examples

8. Finding Percentiles in a Data Set: Formula & Examples

Percentiles are often used in academics to compare student scores. Finding percentiles in a data set can be a useful way to organize and compare numbers in a data set.

Index Numbers in Statistics: Uses & Examples

9. Index Numbers in Statistics: Uses & Examples

Watch this video lesson to learn what index numbers are. Learn how useful this statistical number is in the real world. You will also see some index numbers that we use and probably hear every day.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the OSAT Business Education (CEOE) (040): Practice & Study Guide course

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