This course introduces a practical, analytical approach to managerial decision making. Analytic thinking, systems thinking, and creative thinking will be employed in the context of a variety of business problems. Topics include decision-making models; dealing with the certain, the uncertain, and the unknowable; managing risk; sensitivity analysis; probabilistic decision models; survey design; and regression analysis.
Distinguish among what is knowable, unknowable, and researchable.
Distinguish between secondary and primary research.
Identify tools of data analysis.
Describe the different levels of measurement.
Explain the concepts of validity and reliability of data.
Distinguish among sampling methods.
Descriptive Statistics and Basic Probability
Analyze data using descriptive statistics.
Apply basic probability concepts to facilitate business decision making.
Distinguish between discrete and continuous probability distributions.
Apply the normal distribution to facilitate business decision making.
Apply inferential statistics in solving business problems.
Determine an appropriate sample size.
Apply confidence intervals in solving business problems.
ANOVA and Nonparametric Testing
Apply the output from an Analysis of Variance (ANOVA) to solve a business problem.
Apply nonparametric tests in solving business problems.
Describe the use of correlation in making business decisions.
Apply linear regression and correlation analysis.
Interpret the output produced by a multiple regression analysis.
Time Series and Forecasting
Describe the use of time series analysis and forecasting in making business decisions.
Apply time series analysis and forecasting.
The University of Phoenix reserves the right to modify courses.
While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Advisor.
Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.
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