Course Detail (Course Description By Faculty)

Advanced Business Statistics (41001)

To understand how advertising affects sales, a natural approach is to predict expected sales as a function of advertising and other relevant factors. This is an example of regression, a powerful and widely used data-analysis method—and the central topic of this course. Students will learn how to apply regression tools to complex, real-world problems with the dual goals of understanding data and predicting future outcomes. The emphasis is on building statistical intuition, mastering fundamental concepts and developing practical implementation skills in a programming language (R or Python), rather than memorizing mathematical formulas. Real examples are used throughout to demonstrate how these techniques operate in practice.

Topics include:

• linear regression;

• multiple regression;

• model checking and selection;

• generalized linear models (e.g., logistic regression);

• A/B testing and causal inference;

• resampling methods, including the bootstrap and cross-validation.

We will also discuss recent developments in AI, focusing on those that relate to the core ideas of the course.

  • Business Statistics or Advanced Business Statistics?  You are strongly encouraged to take pre-MBA quizzes to determine which class would be a better fit.  You can access the quizzes and related materials from the Pre-MBA Quiz Canvas site.

  • Business 41000 or familiarity with the topics covered in Business 41000. This course is only for students with a basic background in statistics, and preferably some prior exposure to linear regression.

  • All Non-Booth students require instructor permission.

  • All Non-Booth students require instructor permission.

  • Cannot enroll in BUSN 41100 taken previously: strict.
See Syllabus (will be done soon - feel free to reach out via email: andre.bauer@chicagobooth.edu).
Based on homework assignments (groups allowed), a midterm exam, and a final exam. Cannot be taken pass/fail.
Students may work on a data analysis project of their choosing or participate in a forecasting challenge but this is optional.
  • No pass/fail grades
Description and/or course criteria last updated: October 05 2026
SCHEDULE
  • Winter 2027
    Section: 41001-01
    W 8:30 AM-11:30 AM
    Harper Center
    C10
    In-Person Only
  • Winter 2027
    Section: 41001-85
    S 9:00 AM-12:00 PM
    Gleacher Center
    408
    In-Person Only

Advanced Business Statistics (41001) - Bauer, Andre>>

To understand how advertising affects sales, a natural approach is to predict expected sales as a function of advertising and other relevant factors. This is an example of regression, a powerful and widely used data-analysis method—and the central topic of this course. Students will learn how to apply regression tools to complex, real-world problems with the dual goals of understanding data and predicting future outcomes. The emphasis is on building statistical intuition, mastering fundamental concepts and developing practical implementation skills in a programming language (R or Python), rather than memorizing mathematical formulas. Real examples are used throughout to demonstrate how these techniques operate in practice.

Topics include:

• linear regression;

• multiple regression;

• model checking and selection;

• generalized linear models (e.g., logistic regression);

• A/B testing and causal inference;

• resampling methods, including the bootstrap and cross-validation.

We will also discuss recent developments in AI, focusing on those that relate to the core ideas of the course.

  • Business Statistics or Advanced Business Statistics?  You are strongly encouraged to take pre-MBA quizzes to determine which class would be a better fit.  You can access the quizzes and related materials from the Pre-MBA Quiz Canvas site.

  • Business 41000 or familiarity with the topics covered in Business 41000. This course is only for students with a basic background in statistics, and preferably some prior exposure to linear regression.

  • All Non-Booth students require instructor permission.

  • All Non-Booth students require instructor permission.

  • Cannot enroll in BUSN 41100 taken previously: strict.
See Syllabus (will be done soon - feel free to reach out via email: andre.bauer@chicagobooth.edu).
Based on homework assignments (groups allowed), a midterm exam, and a final exam. Cannot be taken pass/fail.
Students may work on a data analysis project of their choosing or participate in a forecasting challenge but this is optional.
  • No pass/fail grades
Description and/or course criteria last updated: October 05 2026
SCHEDULE
  • Winter 2027
    Section: 41001-01
    W 8:30 AM-11:30 AM
    Harper Center
    C10
    In-Person Only
  • Winter 2027
    Section: 41001-85
    S 9:00 AM-12:00 PM
    Gleacher Center
    408
    In-Person Only