About Statistics for Business Decisions

This course delves into essential statistical concepts for data-driven decision-making in business. Students will explore probability distributions, sampling theory, and the Central Limit Theorem (CLT) to estimate population parameters. Emphasis is placed on hypothesis testing, p-values, and understanding Type-I and Type-II errors for rigorous evaluation. Additionally, the course covers correlation and regression analysis, equipping students with the skills to interpret scatter plots, calculate regression lines, and assess prediction accuracy. By applying these techniques, students will gain practical insights into solving business problems, making data-backed decisions, and understanding the nuances between correlation and causation.