Business Statistics

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Description

The content of the coursework for Statistics was created to meet all of the Statistics for the CPA program. As of 2020, the required CPA competencies are:

- Probability

- Discrete probability distributions

- Normal and other continuous probability distributions (e.g. exponential and/or uniform)

- Sampling, confidence intervals and estimation

- Hypothesis testing (one and two-sample, means and proportions, ANOVA)

- Chi-square tests

- Regression and correlation (simple linear, multiple including model building)

- Forecast time series data

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Accessibility Statement: The audio in the provided tutorial videos does not always provide a description of what is being displayed.

Learning Outcomes

  • Determine the cost of long-term assets and compute depreciation;
  • Define and record current liabilities including notes payable;
  • Account for long-term liabilities including the issuance, amortization and retirement of bonds;
  • Describe the nature and issuance of capital stock;
  • Compute earnings per share - both basic and fully diluted earnings per share;
  • Account for cash and stock dividends, and discuss stock splits;
  • Prepare a statement of retained earnings;
  • Describe and account for partnerships;
  • Develop and analyze cash flow statements for different users;
  • Prepare a statement of changes in financial position;
  • Explain the nature and purpose of independent audits of financial statements, and discuss the crucial role of professional judgment in the financial reporting process;
  • Describe and account for debt and share investments.

Course Materials

  • Business Statistics - Question 1.1 Mean, Median, Mode
  • Business Statistics - Question 1.2 Mean Absolute Deviation
  • Business Statistics - Question 1.3 Variance and Standard Deviation

  • Business Statistics - Question 2.1 Expected Value
  • Business Statistics - Question 2.2 Expected Value Standard Deviation
  • Business Statistics - Question 2.3 Binomial Probability Distribution
  • Business Statistics - Question 2.4 Hypergeometric Probability Distribution
  • Business Statistics - Question 2.5 Poisson Probability Distribution

  • Business Statistics - Question 3.1 Uniform Distribution: Probability, Mean, and Standard Deviation
  • Business Statistics - Question 3.2.1 Normal Distribution – Converting To Z-Scores
  • Business Statistics - Question 3.2.2 Normal Distribution – Using The Z-Score To Find Probability
  • Business Statistics - Question 3.2.3 Normal Distribution – Using The Z-Score Table In Reverse

  • Business Statistics - Question 4.1 Sampling Methods
  • Business Statistics - Question 4.2 Standard Error Where Population Standard Deviation Is Known
  • Business Statistics - Question 4.3 Standard Error Probability

  • Question 5.1 Confidence Interval When Population Standard Deviation Is Known
  • Question 5.2 Confidence Interval When Population Standard Deviation Is Not Known

  • Question 6.1 Stating the Null and Alternative Hypothesis, Type Errors
  • Question 6.2 Hypothesis test when population standard deviation is known – confidence interval approach
  • Question 6.3 Hypothesis test when population standard deviation is known – confidence interval approach
  • Question 6.4 Hypothesis test when population standard deviation is known – p-value method
  • Question 6.5 Hypothesis test when population standard deviation is known – p-value method
  • Question 6.6 Hypothesis test when population standard deviation is unknown – p-value method
  • Question 6.7 Hypothesis test when population standard deviation is unknown – p-value method

  • Question 7.1 Two Sample Hypothesis Tests: Independent Samples and Population Standard Deviation Known
  • Question 7.2 Two Sample Hypothesis Tests: Independent Samples and Population Standard Deviation Unknown
  • Question 7.3 Two-Sample Hypothesis Tests – dependent samples

  • Question 9.1.1 Determining the linear regression equation
  • Question 9.1.2 Calculating Standard Error
  • Question 9.1.3 Constructing a Confidence Interval and Prediction Interval
  • Question 9.1.4 Calculating Correlation coefficient and Coefficient of Determination
  • Question 9.1.5 Hypothesis Testing Strength of Correlation

  • Question 10.1.1 Multiple Regression Example
  • Question 10.1.2 Evaluating the Equation – ANOVA, Multiple Standard Error of Estimate, and Coefficient of Multiple Determination
  • Question 10.1.3 The Global Test: Hypothesis Testing in Multiple Regression
  • Question 10.1.4 Individual Regression Coefficients

  • Question 12.1 Constructing a Simple Index
  • Question 12.2 Constructing a time-series forecast using the least squares method