STAT 2301: Statistics for Business

Discover the intricacies of determining the cause of electronic system failures, either minor or major defects, using statistical distributions. Learn how to minimize the expected cost and make informed decisions based on soundings and loss tables

Explore Anderson's 1999 study on how attention load impacts reaction times. Through hands-on analysis, understand the computation of mean, median, and mode from the provided data. Highlighting the significance of the median in capturing the central tendency amidst potential outliers.

Analyze the statistical assumptions made about high school students' ages, emphasizing the importance of understanding distributions before applying the Standard Normal Table.

Uncover the likelihood of different car combinations by size and color from a dealer's sales data. Learn how to calculate probabilities, from the chances of a small car being black to the odds a non-small car isn't gray. An insightful look into understanding car preferences.

Discover the statistical process behind analyzing the age distribution of proofreaders at a publishing company. Learn how to use the Z-score formula for individual and sample mean probabilities, and how to interpret results using a Z-table.

Discover the art of calculating probabilities in football. Using three players' success rates, we determine the odds of different goal outcomes. Understand independent and mutually exclusive events in a real-world scenario.