Course Description:
This course emphasizes the practical application of descriptive and inferential
statistics to decisions made in a managerial role. The following subjects are
addressed in the course: data summarization and presentation, data analysis, test of
hypotheses, discrete and continuous distributions, estimation theory, simple and
multiple correlation and regression, analysis of variance, multivariate statistics and
non parametric methods. The student will apply the knowledge learned by completing
a data aggregation and reduction exercise report and by accomplishing a research
report summarizing an application of applied statistics from either the academic or
professional literature.
Scenario
WidgeCorp became the market leader in snack foods after acquiring a rival company, Company W. Their management style and business decision-making differed.
Employees at WidgeCorp collected relevant data and through statistical analysis used this information to draw conclusions and make appropriate recommendations.
Company W tended to rely on the experience and judgment of its managers. For the time being, both companies are being managed separately, but within the next twelve
months they will merge all management, processes, and accounting. You work for Company W and are a little nervous about this new way of working, but realize that you
need to be able to present issues and recommendations with statistical verification to the WidgeCorp executives. You will also introduce and employ statistical analysis to
the senior management of Company W’s various departments such as Marketing, Sales, and Production. Part of your job will be to educate Company W as well
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