UNIVERSITY OF ALBERTA 
MGTSC 212: Probability and Statistics for Business 
Comprehensive Revision Guide and Notes 2025 
 
- Part 01: Topic Summary and Exam Tips 
- Part 02: Exam Practice Questions and Answers 
- Part 03: Sample Examination 
- Part 04: Suggested Solutions to Exam Paper 
 
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University of Alberta - MGTSC 212: Probability and Statistics for Business

C$35.00

ACADEMIC YEAR 2024 - 2025

University	University of Alberta
Course Code	MGTSC 212
Course Title	Probability and Statistics for Business
Notes Title	Comprehensive Revision Guide and Notes
Page Length	59

Prepare for the exam with the most complete study guide available for the MGTSC 212: Probability and Statistics for Business at the University of Alberta, including exam-style questions and advice on common examination pitfalls. These notes provide support for learning and revision throughout the course. This self-study set has been thoroughly updated to cover all the topics contained in the latest edition of the exam. The key skills are demonstrated in the context of the core topics of study with expertly written example sets of notes, followed by opportunities to learn and test your knowledge with the sample exam paper and answer key. This guide will help you to take the final exam with complete confidence.

This course focuses on model building and multiple regression analysis for business applications, using microcomputer software. Basic familiarity with microcomputers is required, but necessary computing skills will be taught as the course progresses.

(Summary) What You Will Learn:

Descriptive Statistics: Summarize and describe data using measures like mean, median, and standard deviation.
Probability Distributions: Understand and apply concepts like normal, binomial, and Poisson distributions to analyze probabilities.
Sampling Distributions: Comprehend how sample statistics behave as random variables and their implications in inferential statistics.
Inferential Statistics on Two Populations: Compare means or proportions from two different groups using hypothesis testing and confidence intervals.
Inferential Statistics on Population Variances: Test hypotheses about population variances using F-tests and understand their significance.
Chi-squared Methods: Use chi-squared tests to assess independence in contingency tables or goodness of fit in categorical data.
Covariance and Correlation: Measure and interpret relationships between variables using covariance and correlation coefficients.
Univariate OLS Regression: Perform and interpret simple linear regression to model relationships between variables.
Multiple Linear Regression: Extend regression analysis to multiple predictors and interpret coefficients and overall model fit.

Prerequisite:

STAT 161 or an equivalent course. Credit is only awarded for one of MGTSC 212 (previously MGTSC 312) or STAT 252. Students cannot receive credit for both MGTSC 212 and MGTSC 312.

COURSE CODE	COURSE TITLE
ACCTG 200	Introduction to Accounting
ACCTG 211	Introduction to Accounting for Financial Performance
ACCTG 222	Introduction to Accounting for Management Decision Making
ACCTG 315	Intermediate Financial Accounting II
BLAW 201	Legal Foundations of the Canadian Economy
ECON 101	Introduction to Microeconomics
ECON 102	Introduction to Macroeconomics
ECON 281	Intermediate Microeconomic Theory I
ECON 299	Quantitative Methods in Economics
ECON 399	Introductory Econometrics
FIN 201	Introduction to Finance
FIN 312	Investment Principles
FIN 322	Capital Investment
FIN 413	Risk Management
FIN 414	Operation of Financial Institutions
MARK 201	Introduction to Marketing
MGTSC 212	Probability and Statistics for Business
PSYCH 213	Introduction to Data Analysis in Psychology I
SEM 301	Behaviour in Organizations
STAT 151	Introduction to Applied Statistics I
STAT 161	Introductory Statistics for Business and Economics
STAT 235	Introductory Statistics for Engineering

University of Alberta - MGTSC 212: Probability and Statistics for Business

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