Short description
The primary focus of this text is to empower management students with statistical decision-making skills so that they become active participants rather than passive observers in business situations in which statistical findings are reported and discussed
Long description
The primary focus of this text is to empower management students with statistical decision-making skills so that they become active participants rather than passive observers in business situations in which statistical findings are reported and discussed as part of a management decision-making process. The text is divided into three major sections: exploratory data analysis, statistical inferences, statistical modelling. Each section focuses on a different role of statistics as a decision support tool. Emphasis is therefore placed on: the data requirements for the various techniques and issues of data quality, identifying likely application areas through numerous illustrative examples, noting the limitations of techniques for decision analysis, the valid management interpretation of statistical findings. A new feature of this edition is the use of computer software such as Excel to perform statistical analyses. Excel’s statistical capabilities are illustrated through numerous worked examples. Students are given the opportunity to familiarise themselves with Excel’s statistical capabilities by applying them to data sets of business problems, which are available on the accompanying CD-Rom. Students can monitor their learning with the help of the exercises at the end of every chapter.
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