The field of business statistics is essentially the application of the methods of data analysis developed in introductory statistics to the commercial world. Foreseeing the future of sales or calculating the likelihood of a manufacturing mistake are only two examples. You may already be familiar with many of the instruments used in business statistics from your studies of elementary mathematics, such as the mean, the mode, the median, bar graphs, the bell curve, and elementary probability. It lays the groundwork for hypothesis testing (which involves putting a concept to the test) and regression analysis (which involves fitting data to an equation). The course content will be quite similar to an introductory statistics course. Minor variations are to be expected. In contrast to, say, a medical or social science exam, the questions here will be decidedly more business-oriented. It's expected that data samples would have a strong emphasis on business. Business data analysis may precede some topics typically covered in a basic statistics course (such as multiple regression).

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