Students complete a business plan that includes a strategic, marketing, and financial component. Students learn basic principles of business law, including torts, contracts, agency and commercial law. Types of businesses including sole proprietorship, partnerships and corporations are explored along with common legal problems encountered by business managers. It is recommended that the course be taken with sophomore level courses. This course provides a basic understanding of statistics and statistical methods applied in business.
Statistical methods consist of the principles and techniques used in collecting and analyzing data.
The course is focused on descriptive and a portion of inferential statistics. Basic principles, theories and applications of collection and presentation of data, obtaining useful statistics from the data, probability theory, probability distributions, sampling theory and estimation theory are examined. As a result of increasing customer quality requirements and the development of new product technology, the need for statistical and analytical techniques in quality assurance will be emphasized. Many of the techniques studied in this course for the analysis of data may be used in the control of product and service quality. This course also introduces the use of computer software in statistical analysis.