Statistics and Decision Modeling

3.00 credit hours

This course provides the foundations of statistical and operations research methodologies for managerial decision-making. Business statistics focuses on statistical thinking as one of the fundamentals of effective management. Topics covered include sampling and the normal distribution, making inferences from data via confidence intervals and hypothesis tests, and analyzing relationships between samples. Decision modeling of organizational systems uses mathematical and computer models to provide a quantitative perspective on identifying, analyzing and solving complex decision problems. This course includes an introduction to linear programming models and applications, simulation techniques in decision-making, and project management.

Sample Syllabus