British Columbia Institute of Technologywww.bcit.ca/study/courses/opmt1130

# OPMT 1130 - Business Statistics

## Operations Management Part-time Studies Course

### School of Business + Media

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# Course Details

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.

## Credits

5.5

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# Learning Outcomes

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.

Effective as of Winter 2020

# Related Programs

OPMT 1130 is offered as a part of the following programs:

## School of Business + Media

1. Accounting
Full-time   Diploma
Full-time   Diploma
3. Business Information Technology Management (Artificial Intelligence Management Option)
Full-time   Diploma
4. Business Information Technology Management (Enterprise Systems Management Option)
Full-time   Diploma
Full-time   Diploma
Full-time   Diploma
7. Finance
Full-time   Diploma
8. Financial Planning
Full-time   Diploma
9. General Insurance and Risk Management
Full-time   Diploma
10. Human Resource Management
Full-time   Diploma
11. International Business Management (Global Supply Chain Option)
Full-time   Diploma
Full-time   Diploma
13. Marketing Management (Entrepreneurship Option)
Full-time   Diploma
14. Marketing Management (Marketing Communications Option)
Full-time   Diploma
15. Marketing Management (Professional Sales Option)
Full-time   Diploma
16. Marketing Management (Tourism Management Option)
Full-time   Diploma
17. Marketing Management
Full-time   Diploma

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