The goal of this course is to teach the fundamentals of analysis and modeling under uncertainty. The course introduces the nature of uncertainty and basic concepts of probability including distributions and expectations. Another goal is to develop statistical analysis skills that help understanding and modeling uncertain events in practice. The course also aims to teach students how to use spreadsheet software for various data analysis.
Upon succesful completion of this course, a student will be able to
1. Calculate the mean and variance of a random variable and apply general properties of the expectation and variance operators.
2. Describe the main properties of probability distributions and random variables and apply the concepts of discrete and continuous probability distributions.
3. Identify the random variable(s) of interest in a given scenario and construct the probability distribution based on a real-world situation.
4. Perform hypothesis tests to statistically prove or disprove claims involving one or more populations
5. Construct simple and multiple regression models
6. Draw conclusions based on statistical models
Homework Assignments - 20%
Term Project - 25%
Midterm Exam - 25%
Final Exam - 30%
| Workload | Hrs |
|---|---|
| Course Readings | 30 |
| Hands-on Work | 10 |
| Exams/Quizzes | 45 |
| Case Study Analysis | 36 |