Statistics play an important role in management decision-making. Good decisions are based on an accurate description of the observed data (descriptive statistics). Relevant strategies rely on modeling data and estimating the parameters of the model using data (inferential statistics). Only decisions that are motivated by appropriate statistical analysis may be convincing and broadly accepted.
The aim of this course is to introduce basic notions and methods in statistics. Statistical methods will be introduced through a conceptual framework and some mathematical formulas, and illustrated using specialized software (JMP and Excel) and applications of management data.
- Descriptive statistics.
- Foundations of inferential statistics (random variables, population measures, random sample).
- Estimation and confidence intervals.
- Testing statistical hypotheses (testing procedure, p-values, one-sample and two-sample tests of hypothesis).
- Regression analysis (simple and multiple linear regressions).