Course outline

The course purpose is to introduce a formal framework for analyzing real life business problems with actual data, so that students can improve their understanding of the circumstances in which statistical techniques should be used and how to apply statistics to practical business situations. The entire course is supported with many case studies and worked-out examples. In particular, statistical techniques are grouped in sections covering applications in the field of decision making, business forecasting, quality control, and commonly used descriptive and inferential statistics. Understanding of the graphs, tables as well as equations are managed down to the core which encourage and help students to recognize business problems which can be solved by the usage of appropriate statistical methods. Students are taught to recognize different types of statistical data and to select an appropriate statistical method.