Introduction to Business Statistics

Lesson 1
After completing this course, you'll be able to:

Differentiate between descriptive and inferential statistics
Distinguish between the 4 different scales of measurement: nominal, ordinal, interval, and ratio
Identify the appropriate graphical or tabular method for presenting your data
Create frequency distributions
Create meaningful presentations and graphs including:
frequency polygons
bar graphs
pie charts
line graphs
histograms

Calculate probability and explain its practical application
Compute the mode, median, and mean of a dataset
Calculate the variance and standard deviation of a dataset
Interpret sampling with and without replacement
Explain the significance of the area under a curve