The focus of this course is using statistical data to solve business problems. Areas to be covered will include descriptive and inferential statistics. Students will learn how to ask the right questions, evaluate data and spot statistical misuse. They will understand the importance of validity and reliability in data collection. Areas to be covered include samples, experiments, measurement, data collection, tables and charts, descriptive statistics, distributions, confidence intervals, regression, t-tests, chi-squares and correlation. The student will not become a statistician but will be able to have a basic understanding of how to use statistics to make business decisions.
Using the knowledge gained in Statistical Methods and Decision Modeling for Managers, along with Marketing Management, the student will be equipped with a thorough knowledge of research methodologies. Application through research problems facing today’s managers will also be examined.