TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
QM 2241
Business Statistics I
Prerequisites
MTH 1112.
Description
An introduction to descriptive and inferential statistical concepts and methods. Topics include
grouping of data, measures of central tendency and dispersion, probability concepts and
distributions, sampling, statistical estimation, and statistical hypothesis testing.
Objectives
On completion of the course, the student should be able to:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Summarize the types of statistics and categories of data and levels of data measurement.
Interpret tabular and graphical summaries of business data.
Compute and interpret summary measures of location of business data.
Compute and interpret summary measures of dispersion and apply the empirical rule.
Apply basic rules of probability.
Indentify and calculate probabilities and expected values for generic discrete probability
distributions.
Identify and calculate probabilities for the continuous uniform and normal probability
distributions.
Understand sampling methods and applicability of Central Limit Theorem.
Construct and interpret confidence intervals to estimate means and proportions and
understand the relationship of sample size, confidence level and interval width.
Demonstrate an understanding of hypothesis testing procedures for population means and
proportions for single populations.
Purpose
To develop statistical-analysis skills appropriate for entry-level employment in business fields.
Core requirement for all undergraduate business programs.
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for developing the
instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy University Faculty Handbook.
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may expand upon the
same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum and should be consulted by
faculty as a source of advisement guidance. Specific choice of text and other details are further subject to Discipline Coordinating Committee
guidance.
1 August 2010
Master Syllabus: QM 2241
2
Approved Texts
Note: Beginning in Term 1, 2010 all sections of QM2241/3341 must use the following
common textbook:
Lind, D. A., Marchal, W. G., & Wathen, S. A. (2011 or current). Statistical Techniques in
Business and Economics [loose leaf, custom package] (15th ed.). Boston, MA: McGrawHill. [Includes: Student CD-ROM and access code to Connect Plus]
Supplements
As deemed appropriate.
Other Requirements
All students who take this course must take a timed, proctored, comprehensive, closedbook/closed notes formative exam which will be taken in Blackboard during the final
examination period. The exam must comprise at least 25% of final grade for the course and the
exam results may not be scaled. This exam will be administered online in Blackboard. All
students, regardless of course format (online, in-class, or hybrid) will be registered in a separate
course in Blackboard where this exam is accessed. Instructors will not have access to this course,
nor will they be allowed to preview the questions. The exam will cover all of the learning
objectives listed in this master syllabus. See the last two pages for a detailed list of subtopics
included. At a minimum these topics must be covered by all instructors in their courses.
All instructors should read the following information to ensure they understand the requirements,
grade reporting system, and the administration periods in which these exams are given:
http://business.troy.edu/Portal/formative-assessments.aspx
Students are allowed to use a non-programmable calculator without statistical functions during
the exam and will be provided with a standard formula sheet and tables that can be accessed in
an electronic file during the test. See the link below for more specific information on the exam
format, materials allowed, and information provided during the test:
http://business.troy.edu/Portal/qm-2241.aspx
Topics covered on formative final examination:
The formative exam consists of questions selected at random from pools of questions developed
for each of the learning objectives listed on page 1. Areas included include:
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title
2. Course number +
section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times
8. Classroom
location
9. Office location +
e-mail address
10. Office telephone
11. Course
description,
objectives
12. Text(s)
13. Other materials
14. Grading methods, 16. General supports
criterion weights,
(computer works,
make-up policy,
writing center)
mid-term grade
17. Daily assignments,
reports
holidays, add/drop
15. Procedure, course
& open dates, dead
requirements
day, final exam
18. ADA statement
19. Electronic device
statement
20. Additional
services,
statements
21. Absence policy
22. Incomplete-work
policy
23. Cheating policy
24. Specialization
requirements
(certification,
licensure, teacher
competencies)
Master Syllabus: QM 2241
3
SLO 1: Summarize the types of statistics and categories of data and levels of data
measurement.

Know the difference between descriptive and inferential statistics.

Know the difference between and be able to identify qualitative vs. quantitative data.

Know the difference between and be able to identify discrete vs. continuous data.

Differentiate between the levels of measurement
SLO 2: Interpret tabular and graphical summaries of business data.

Understand and interpret bar, pie, line, stem-and-leaf charts, and understand when to
use each.

Understand and interpret scatter diagrams and know when they are used.

Understand how box plots are constructed and how to interpret them.

Be able to construct and interpret histograms.

Interpret frequency distributions, including relative and cumulative frequencies
SLO 3: Compute and interpret summary measures of location of business data

Compute and interpret the mean given a set of data.

Be able to compute and interpret medians and percentiles from a data set.

Understand how to compute and interpret the mode.

Be able to calculate the mean for grouped data.

Know how to calculate a weighted average.
SLO 4: Compute and interpret summary measures of dispersion and apply the empirical
rule.

Compute and interpret the range given a set of data.

Compute and interpret the standard deviation and variance given a set of data.

Apply the empirical rule to determine probabilities.
SLO 5: Apply basic rules of probability.

What is the range of probability?

Differentiate between mutually exclusive, independent, collectively exhaustive and
complementary events.

Calculate the probability of a union, given a frequency distribution.

Calculate the probability of an intersection, given a frequency distribution.

Calculate the probability of a union, given probabilities.
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title
2. Course number +
section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times
8. Classroom
location
9. Office location +
e-mail address
10. Office telephone
11. Course
description,
objectives
12. Text(s)
13. Other materials
14. Grading methods, 16. General supports
criterion weights,
(computer works,
make-up policy,
writing center)
mid-term grade
17. Daily assignments,
reports
holidays, add/drop
15. Procedure, course
& open dates, dead
requirements
day, final exam
18. ADA statement
19. Electronic device
statement
20. Additional
services,
statements
21. Absence policy
22. Incomplete-work
policy
23. Cheating policy
24. Specialization
requirements
(certification,
licensure, teacher
competencies)
Master Syllabus: QM 2241


4
Calculate the probability of an intersection, given probabilities.
Calculate conditional probabilities from a joint frequency distribution.
SLO 6: Indentify and calculate probabilities and expected values for generic discrete
probability distributions.

For a given discrete probability distribution table, calculate event probabilities.

For a given discrete probability distribution table, calculate the expected value.

Determine which discrete distribution (uniform, binomial, Poisson, hypergeometric)
applies in a given problem.

Perform a probability calculation using the Binomial formula.

Perform a probability calculation using the Binomial table.

Calculate the mean of a Binomial distribution.

Calculate the variance/standard deviation of a Binomial distribution.

Calculate probability based on the discrete uniform distribution.
SLO 7: Identify and calculate probabilities for the continuous uniform and normal
probability distributions.

Calculate probability based on the continuous uniform distribution.

Calculate probability based on the normal distribution.

Interpret a percentile.
SLO 8: Understand sampling methods and applicability of Central Limit Theorem.

Identify the sampling technique that was/should be used for a given situation.

Interpret the Central Limit Theorem.
SLO 9: Construct and interpret confidence intervals to estimate means and proportions
and understand the relationship of sample size, confidence level and interval width.

Understand the impact of the confidence level and sample size on interval width.

Calculate and interpret a confidence interval for the population mean using z.

Calculate and interpret a confidence interval for the population mean using t.

Determine the sample size required for a confidence interval for the population mean
or a proportion

Calculate a confidence interval for the population proportion.
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title
2. Course number +
section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times
8. Classroom
location
9. Office location +
e-mail address
10. Office telephone
11. Course
description,
objectives
12. Text(s)
13. Other materials
14. Grading methods, 16. General supports
criterion weights,
(computer works,
make-up policy,
writing center)
mid-term grade
17. Daily assignments,
reports
holidays, add/drop
15. Procedure, course
& open dates, dead
requirements
day, final exam
18. ADA statement
19. Electronic device
statement
20. Additional
services,
statements
21. Absence policy
22. Incomplete-work
policy
23. Cheating policy
24. Specialization
requirements
(certification,
licensure, teacher
competencies)
Master Syllabus: QM 2241
5
SLO 10: Demonstrate an understanding of hypothesis testing procedures for population
means and proportions for single populations.

Given a situation, determine null and alternative hypotheses for mean.

Given a situation, determine null and alternative hypotheses for proportion.

Identify type I and type II error.

Apply the p-value approach given alpha and a p-value.

Apply the critical value approach given alpha and a test statistic.

Given a scenario, calculate a test statistic.

Given a test statistic (z sample) determine the p-value.

Given a scenario or hypotheses, determine whether a hypothesis should be lower,
upper or two-tailed.
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for space):
1. Course title
2. Course number +
section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times
8. Classroom
location
9. Office location +
e-mail address
10. Office telephone
11. Course
description,
objectives
12. Text(s)
13. Other materials
14. Grading methods, 16. General supports
criterion weights,
(computer works,
make-up policy,
writing center)
mid-term grade
17. Daily assignments,
reports
holidays, add/drop
15. Procedure, course
& open dates, dead
requirements
day, final exam
18. ADA statement
19. Electronic device
statement
20. Additional
services,
statements
21. Absence policy
22. Incomplete-work
policy
23. Cheating policy
24. Specialization
requirements
(certification,
licensure, teacher
competencies)