Table of Contents
Chapter 1 - Basics of Business Statistics1
| Introduction | 1 |
| The Nature of Data | 1 |
| Data Analysis | 6 |
| The Mean, Median, and Mode | 6 |
| The Spread of Data | 8 |
| Data Sampling | 13 |
| Covariance and Correlation | 14 |
| Regression Analysis | 15 |
| Variable Forecasting Options | 18 |
| Extrapolate Historical Patterns | 18 |
| Use Exponential Smoothing | 19 |
| Use Moving Averages | 20 |
| Summary | 22 |
| Review Questions | 23 |
Chapter 2 - Probability Theory24
| Introduction | 24 |
| Probability Theory Basics | 25 |
| Probability Theory Uses | 25 |
| Analysis of Uncertain Outcomes | 25 |
| Random Experiments | 28 |
| Expected Value and Variance | 28 |
| The Normal Probability Distribution | 29 |
| The Binomial Distribution | 29 |
| The Geometric Distribution | 31 |
| The Poisson Distribution | 31 |
| The Uniform Distribution | 32 |
| Sampling Techniques | 33 |
| Simple Random Sampling | 33 |
| Systematic Sampling | 34 |
| Stratified Sampling | 34 |
| Cluster Sampling | 34 |
| Nonprobability Sampling | 35 |
| The Central Limit Theorem | 35 |
| Summary | 35 |
| Review Questions | 36 |
Chapter 3 - How to Draw Conclusions from Samples37
| Introduction | 37 |
| The Confidence Interval | 37 |
| Using the Confidence Interval with a Small Sample | 39 |
| Sample Comparisons | 39 |
| Summary | 40 |
| Review Questions | 41 |
Chapter 4 - Excel Sales Forecasting Tools42
| Introduction | 42 |
| Moving Averages Function | 42 |
| Exponential Smoothing Function | 44 |
| Linear Trend Function | 45 |
| Polynomial Trend Function | 46 |
| Regression Analysis | 48 |
| Summary | 50 |
| Review Questions | 51 |
Answers to Chapter Questions52
Glossary54
Index56
Course Details
Author: Steven M. Bragg, CPA
Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.
Publication/Revision Date: 6/14/2026
Course Exam Questions (online): 10 (multiple-choice)
Program Delivery Method: NASBA QAS Self-Study
Available Formats of Course Text: Downloadable PDF, Printed/Mailed
Course Level, Prerequisites, and Advance Preparation Requirements
| License | Course Level | Prerequisites | Advance Preparation Requirements |
|---|
| CPA | Overview | None | None |
* This program is appropriate for professionals at all organizational levels.
Sponsor ID Numbers
National Registry of CPE Sponsors I.D.: 107615
State CPA Board Sponsor ID Numbers (where applicable)
Florida Division of Certified Public Accounting: 0004761
Hawaii Board of Public Accountancy: 14003
New York State Board for Public Accountancy: 002146
Ohio Accountancy Board: CPE .51 PSR
Pennsylvania State Board of Accountancy: PX178025
Texas State Board of Public Accountancy: 009349
Learning Objectives
As a result of studying the course material, you should be able to meet the objectives listed below:
- Identify the components needed for a statistical analysis.
- Specify the characteristics of the various charts used to describe data.
- Identify the characteristics of the coefficient of variation.
- Specify the characteristics of a binomial distribution.
- Identify the characteristics of a confidence interval, and describe how it is calculated.
- Recall how to calculate the different types of forecast options in Excel.
- Specify components of an Excel regression analysis report.
