Skip to main content

Course Outlines

OPMT 1197

Statistics for Business and Industry

School School of Business + Media
Program Part-time Studies
Course Credits 4.5
Minimum Passing Grade 50%
Start Date September 13, 2021
End Date November 15, 2021
Total Hours 54
Total Weeks 9
Hours/Weeks 6
Delivery Type Lecture/Lab
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.
CRN 37495

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 Details

Name Illya Kochergin
E-mail Instructor to provide
Location n/a
Office Hours Instructor to provide

Course Description

​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.

Learning Resources

Required:

STATISTICS FOR BUSINESS; Notes for courses in Business Statistics, Charles Chan, Michael Johnson, Nov 2013, BCIT Imaging Services 10297032 (or later editions)

All students are required to have a pre-programmed statistical calculator. The Texas Instrument BA II PLUS calculator is used extensively in the course. It is recommended that students with other calculator models check with their instructor.

Course Goals

Course Learning Outcomes/Competencies

Upon successful completion of the course, the student will be able to:

  1. Discuss the value of statistical information in a variety of business disciplines and work environments.
  2. Assess statistical information portrayed in the media, work and educational environments.
  3. Generate a spreadsheet to collect, collate, organize and analyze quantitative data
  4. Use spreadsheets and graphical techniques to present data in such a manner that it is understood by and meaningful to colleagues and clients.
  5. Analyze data presented in frequency distributions, histograms and ogives.
  6. Apply the common rules of probability to evaluate business alternatives.
  7. Construct and interpret a confidence interval estimate for a single population mean using both the standard normal and t distributions.
  8. Establish and interpret a confidence interval estimate for a single population proportion.
  9. Determine the required sample size for estimating a single population mean or proportion.
  10. Carry out an appropriate hypothesis test on a single population mean or proportion.
  11. Interpret the p-value of the test statistic.
  12. Construct a contingency table and perform a chi squared test of independence.
  13. Analyze simple two continuous variables using linear regression and correlation.
  14. Interpret the results of a computer generated regression model.
  15. Analyze categorical and continuous variables using ANOVA test to find a difference between population means.

Evaluation Criteria

Criteria % Comments
Quizzes (3)15%Each quiz is 5%
Midterm Exam (3)45%Each midterm exam is 15%
Participation5%
Final exam35%

Course Schedule and Assignments

Schedule

Session

Week of/
Number

Outcome/Material Covered

Reference/
Reading

Assignment

Due Date

1

Sep 13

Descriptive Statistics:

- Measurement Levels and Variable Types

- Measures of central location: proportion, mean, weighted mean, median, mode, percentiles

- Measures of Variability: range, IQR, variance, st. deviation, coefficient of variation, Z-scores, empirical rule, distribution inequalities, outliers

Ch 1, 2, 3

Labs

Pages 15-1 – 15-7

2

Sep 15

Descriptive Statistics: Tabular and Graphical Methods

  • Bar Chart, Histogram, Frequency/density distribution, Dot Plot, Box Plot Visualization
  • Shapes of Distributions: symmetry, skewness and kurtosis

Ch 4

Labs

Pages 15-9 – 15-12

3

Sep 20

Quiz 1 (descriptive statistics)

Introduction to Probability: classical and frequency definition of probability, sample space, counting rules (multiplication, permutations, combinations)

Basic probability properties; addition and multiplication rules; Venn Diagram; dependent, mutually exclusive, and complimentary events; conditional probability

Ch 6

Lab

Pages 15-13 – 15-15

4

Sep 22

2x2 Probability Tables; Analysis of dependency of two categorical variables.

Random variables; expected value and standard error

Ch 7

Labs Pages 15-16 – 15-27

5

Sep 27

Review

Midterm Exam 1 (Descriptive Statistics and Probabilities)

6

Sep 29

Discrete Probability Distributions:

binomial, Poisson, and hypergeometric probability distributions

Ch 8

Labs

Pages 15-28 – 15-35

7

Oct 4

Continuous Probability Distributions:

Uniform and exponential distributions

Normal probability distribution and normal approximation of binomial distribution

Ch 9

Labs

Pages

15-36 – 15-41

8

Oct 6

Quiz 2 (Probability and Probability distributions)

Sampling and Sampling Distributions:

sampling methods, CLT, distribution of sample means and proportions

Confidence Interval for estimation of population mean: point estimate and margin of error, large and small samples, unknown population standard deviation, t-distribution. Calculating sample sizes.

Ch 10

Labs

Pages 15-42 – 15-44

9

Oct 13

Confidence Interval for estimation of population proportion, calculating sample sizes

Ch 11

Labs

Pages 15-45 – 15-51

10

Oct 18

Review

Midterm Exam 2 (Probabilities, random variable, probability distributions, distributions of sample means and proportions, confidence interval)

11

Oct 20

Hypothesis testing:

Developing null and alternative hypotheses, Type I and Type II errors.

One/two tailed tests about a population mean, P-value, significance, power.

Ch 12

Labs

Pages

15-56 – 15-58

12

Oct 25

One/two tailed hypothesis testing about a population proportion.

Hypothesis testing for two populations: comparison of two means.

Ch 12

Labs Pages 15-59 – 15-63

13

Oct 27

Quiz 3 (Hypothesis testing – one population)

Hypothesis testing for two populations: comparison of two proportions.

14

Nov 1

Chi-square test of independence of categorical variables, contingency tables, goodness-of-fit tests.

Review of Inferential statistics.

Ch 13

Lab

Pages 15-64 – 15-66

15

Nov 3

Mid-term Exam 3 (cumulative)

16

Nov 8

ANOVA and post-ANOVA analysis

17

Nov 10

Regression Analysis:

Simple regression model, least squares method, coefficient of determination, model assumptions

Testing for significance; Using the estimated regression equation for estimation and prediction, computer solutions

Ch 14

Lab

Pages 15-67 – 15-72

18

Nov 15

Final Examination

BCIT Policy

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

Attempts:
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.

Attendance:
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.

Approved

I verify that the content of this course outline is current.
Illya Kochergin, Instructor
June 24, 2021

I verify that this course outline has been reviewed.
Sam Choo, Program Head
June 25, 2021

I verify that this course outline has been reviewed.
Ron Wlock, Program Head
June 25, 2021

I verify that this course outline has been reviewed and complies with BCIT policy.
Phil Ramer, Associate Dean
June 28, 2021

Note: Should changes be required to the content of this course outline, students will be given reasonable notice.