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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 10, 2021
End Date December 10, 2021
Total Hours 54
Total Weeks 14
Hours/Weeks 3.86
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 46262

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 Simin Sadat Chavoshi Jolfaee
E-mail Instructor to provide
Location SW2-223
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

All students are required to have a statistical calculator. The Texas Instrument BA II PLUS calculator is used in the course.

Some important statistical calculations are done using Excel, please be sure to have access to a working Microsoft Excel software.

Textbook:

Textbook Title

Edition

Author/s

Publisher

ISBN#

Essentials of Business Statistic

1st Canadian Edition

Ken Black, Ignacio Castillo, Amy Goldlist, Timothy Edmunds

Wiley

978-1-119-36842-7

Evaluation Criteria

Criteria % Comments
Quizzes25
Midterm 120
Midterm 220
Final Exam35
Total 100

Attendance Requirements

Regular class attendance 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 and/or removal from the course. In case of illness or other unavoidable absence, students must communicate with me, or the appropriate Program Head, as soon as possible 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. These requirements are set out in accordance with BCIT Policy 5101 - Student Regulations.

Course Schedule and Assignments

Date

Topic

Exams & Quizzes

(Tentative)

1

Sep 10

Introduction and course overview

Summation notation and indexes

Descriptive Statistics:

- Variable Types

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

- Measures of Variability: range, IQR, variance, standard deviation, outliers

2

Sep 17

Descriptive Statistics: Tabular and Graphical Methods

- Histograms, Frequency distributions

- Box Plot Visualization

- Shapes of distributions (skewed right, left and symmetrical)

Quiz 1

3

Sep 24

Basic probability rules: Addition + Multiplication, Union, Intersection

Mutually Exclusive and Independent Events

Conditional probability, start on 2×2 probability tables

4

Oct 1

Expected value and standard deviation of random variables

Quiz 2

5

Oct 8

Uniform probability distribution

Binomial probability distribution

Poisson probability distribution

6

Oct 15

Midterm 1

Midterm #1

7

Oct 22

Normal Distribution: Empirical rule, Z-scores, normal tables

Normal distribution (applied problems)

Point estimation, distribution of sample means, central limit theorem

8

Oct 29

Interval Estimation: Estimation of population means (large samples)

Estimation of population means (small samples). Finding sample sizes

Quiz 3

9

Nov 5

Estimation of population proportions. Finding sample sizes.

Hypothesis Testing: Null + alternative hypotheses, One and two-tailed tests about a population mean (large sample). P-value

Quiz 4

10

Nov 12

Midterm 2

Midterm #2

11

Nov 19

Hypothesis Testing:

One/two-tailed tests about a pop mean (small sample).

One and two-tailed tests about a population proportion. Type I and II errors

Quiz 5

12

Nov 26

Chi-square test of independence, contingency tables

Regression Analysis: Simple regression model, least square method

Coefficient of determination. Testing for significance. Using regression line for estimation and prediction

13

Dec 3

Analysis of Variance (ANOVA)

Quiz 6

14

Dec 10

Final Exam

Final Exam

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.
Simin Sadat Chavoshi Jolfaee, Instructor
August 03, 2021

I verify that this course outline has been reviewed.
Sam Choo, Program Head
August 03, 2021

I verify that this course outline has been reviewed and complies with BCIT policy.
Phil Ramer, Associate Dean
August 09, 2021

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