Inform your decision making by leveraging statistics.
Duration: 8 weeks
Decisions driven by the proper interpretation of business statistics are more likely to succeed. In MBA 541 Analytical Tools for Management Decisions, you will examine the two main types of statistics — descriptive and inferential. You will learn to organize and present data in a clear and informative way with descriptive statistics skills using tactics such as dot, box, and scatter plots. You will see how exploration methods such as z-scores, deciles, quartiles and percentiles impact the presentation of information, and how to interpret graphical data.
Business theories, estimations and generalizations will be powered with your new understanding of inferential statistics. It’s simply a formal way of saying you understand how to interpret data correctly using the framework of various concepts, theories and methods. For instance, you will learn how to find probabilities and percentiles using standard and non-standard normal distribution with the concept of continuous probability distributions. You will evaluate sampling methods, , explore the Central Limit Theorem and learn to compute sample statistics.
What You Will Learn in MBA 541
You will examine statistical hypothesis testing using one-, two- -sample testing, and learn the mechanics of choosing the appropriate statistical-test procedure. You will learn to compute the test statistic and its relationship to the original claim. You will also learn partition variances.. As you learn these methods, and those of handling multiple variables, you will learn to analyze real-world challenges and overcome their complexities.
Throughout the course you will complete exercises that will improve your facility with statistical tools in Excel.
Throughout this course, weekly topics may include but are not limited to:
- Statistics and Data Description
- Describing Data
- Probability Distributions
- Sampling Methods and Confidence Intervals
- Hypothesis Testing
- Analysis of Variance
- Correlation, Simple Linear Regression and Multiple Regression
- Categorical Data Analysis
Course Learning Outcomes
Upon successful completion of MBA 541, you will be able to:
- Identify and define key statistical terminology and concepts.
- Compute basic descriptive statistics.
- Describe a normal distribution and apply the concepts of the normal distribution to that of sampling distributions.
- Apply probability theory and inferential statistics to make business decisions.
- Perform regression analysis.
- Analyze real-world data using statistical techniques
Request More Information Today
To learn more about the online Master of Business Administration curriculum from Benedictine University, including Analytical Tools for Management Decisions, call (866) 295-3104 to speak with a program manager or request more information.
Course content and outcomes may vary and are subject to change without notice.