Statistics for Business and Industry
|School||School of Business + Media|
|Minimum Passing Grade||50%|
|Start Date||April 06, 2021|
|End Date||May 20, 2021|
|Pre-requisites||Basic algebraic skills to at least the Grade 11 level. Students who do not have these skills should consider taking OPMT 0199. This course is deemed equivalent to OPMT 1130, OPMT 1121 and OPMT 1208.|
Acknowledgement of Territories
The British Columbia Institute of Technology acknowledges that our campuses are located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam).
|Instructor to provide|
|Office Hours||Instructor to provide|
Includes descriptive statistics, including numerical and graphical presentation of data, measures of central tendency, dispersion and elementary probabilities. Introduction to several discrete and continuous probability distributions. Introduction to inferential statistics through selected topics such as sampling, confidence limits of the mean, hypotheses testing, simple linear regression and the chi-squared test for independence.
Course Learning Outcomes/Competencies
Upon successful completion of this course, the student will be able to:
- Discuss the value of statistical information in a variety of business disciplines and work environments.
- Assess statistical information portrayed in the media, work and educational environments.
- Organize and analyze quantitative data.
- Calculate descriptive statistics measures such as the mean, weighted mean, median, mode, standard deviation, coefficient of variation and variance.
- Use graphical techniques to present data in such a manner that it is understood by and meaningful to colleagues and clients.
- Analyze data presented in frequency distributions, histograms and boxplots.
- Apply the common rules of probability to evaluate business alternatives.
- Analyze and calculate probabilities for Binomial, Poisson, Uniform and Exponential probability distributions.
- Calculate expected values and standard deviations for random variables.
- Construct and interpret a confidence interval estimate for a single population mean using both the standard normal and t distributions.
- Establish and interpret a confidence interval estimate for a single population proportion.
- Determine the required sample size for estimating a single population mean or proportion.
- Carry out an appropriate hypothesis test on a single population mean or proportion.
- Interpret the p-value of the test statistic.
- Carry out a hypothesis test comparing two population means or proportions.
- Construct a contingency table and perform a chi squared test of independence.
- Analyze simple two-variable problems using linear regression and correlation.
- Interpret the results of a computer generated regression model and ANOVA table.
• Essentials of Business Statistics First Canadian Edition by Ken Black, Ignacio Castillo, Amy Goldlist and Timothy Edmunds. Publisher: Wiley ISBN 978-1-119 - 36836 - 6
• Students are required to use a statistical calculator. The course will be taught using the Texas Instrument BA II Plus calculator (available from the TNT on the BCIT campus).
Course Specific Requirements
- Due to the current COVID-19 situation, this course including exams will be conducted online completely.
- Students should set aside time to perform the learning according to the course schedule. All tests and exams, as well as “virtual” classes will take place during the specified time. Students also need to set aside time away from the course schedule to perform the homework, studying and assignments.
- To study effectively while working remotely on this course, the following set-ups are required:
- A study work area, away from noise and interruptions for the duration.
- Access to a personal computer that equipped with a webcam and a microphone for class participation and test taking and a reliable internet connection.
- Ability to scan or photograph your work for return to the instructor for marking.
- Access to a printer is recommended to print out some of the assignments and quizzes to work more effectively.
Course Schedule and Assignments
Mean, median, mode and weighted mean
1.1 – 1.3, 3.1
Range, standard deviation, variance
Constructing a frequency distributions, histograms and box plots
Shapes of distributions (skewed right, left and symmetrical)
2.1, 2.3, 2.4
3.2, 3.4, 3.5
Basic probability rules
5.1 – 5.5
Conditional probability, 2×2 probability tables, Contingency table
5.6 – 5.8
expected value and standard deviation of random variables
6.1 – 6.3
Binomial probability distribution
Empirical rule, z-scores
Distribution of sample means, central limit theorem
Review for Midterm 1
Midterm 1(Lecture 1 – 13)
Estimation of population means (Population Standard deviation Known)
Estimation of population means (Pop. Std. Dev. unknown). Sample sizes
Estimation of population proportions. Finding sample sizes.
Hypothesis Testing (I): Null and alternative hypotheses.
One/two-tailed tests about a population mean. P-values
One/two-tailed tests about a population proportions. P-values
Hypothesis Testing (II): Type I, Type II errors
Review for Midterm 2
Midterm 2 (Lecture 14-19)
Chi-square test of independence, contingency tables
Regression Analysis: Simple regression model, least square method
Coefficient of determination, assumptions. Testing for significance, Confidence interval
14.1 – 14.7
Using regression equation for estimation and prediction. Computer solutions
Review for Final Exam
FINAL EXAM (Comprehensive)
Any student who needs special assistance in the event of a medical emergency or building evacuation (either because of a disability or for any other reason) should promptly inform their course instructor(s) and Accessibility Services of their personal circumstances.
Human Rights, Harassment and Discrimination:
The BCIT community is made up of individuals from every ability, background, experience and identity, each contributing uniquely to the richness and diversity of the BCIT community as a whole. In recognition of this, and the intrinsic value of our diversity, BCIT seeks to foster a climate of collaboration, understanding and mutual respect between all members of the community and ensure an inclusive accessible working and learning environment where everyone can succeed.
Respect, Diversity, and Inclusion is a supportive resource for both students and employees of BCIT, to foster a respectful learning and working environment. Any student who feels that they are experiencing discrimination or harassment (personal or human rights-related) can confidentially access this resource for advice and support. Please see Policy 7507 – Harassment and Discrimination and accompanying procedure.
Students should make themselves aware of additional Education, Administration, Safety and other BCIT policies listed at https://www.bcit.ca/about/administration/policies.shtml
Guidelines for School of Business + Media
Students must successfully complete a course within a maximum of three (3) attempts at the course. Students with two attempts in a single course will be allowed to repeat the course only upon special written permission from the Associate Dean. Students who have not successfully completed a course within three attempts may not be eligible to graduate from their respective program.
Regular attendance in lectures and labs is seen as integral to student success, therefore, attendance in class is monitored. Unexcused absences in excess of 10% of the time prescribed for this course may result in the assignment of a failing grade. Attendance may be taken at any time during class. A student not present for attendance will be marked absent. A student who leaves class for a period of time deemed excessive by the instructor may be considered absent regardless of whether they are present when attendance is taken.
In case of illness or other unavoidable absence, students must communicate with the instructor, or the appropriate Program Head, as soon as possible (preferably in advance) indicating the reason for the absence. Students who are seeking accommodation for a medical absence must have a BCIT-approved medical certificate ). For other absences, students must be prepared to provide appropriate supporting documentation.
A student who has unexcused absences in excess of 10% of the time prescribed for the course by the Withdrawal Deadline is considered to have ‘Vanished’ and will be assigned a grade of ‘V’. In these cases, no further work will be graded.
These requirements are set out in accordance with BCIT Policy 5101 Student Regulations. More information regarding withdrawals from PTS courses is available at https://www.bcit.ca/pts/pts_withdrawals.shtml.
I verify that the content of this course outline is current.
Judy Li, Instructor
March 30, 2021
I verify that this course outline has been reviewed.
Sam Choo, Program Head
March 30, 2021
I verify that this course outline has been reviewed.
Ron Wlock, Program Head
March 31, 2021
I verify that this course outline has been reviewed and complies with BCIT policy.
Phil Ramer, Associate Dean
March 31, 2021
Note: Should changes be required to the content of this course outline, students will be given reasonable notice.