Main Module 1
Presenting, Describing and Inferring from a Sample of Numerical Data

 

Learning Objectives

At the end of the module, the student will:

  Enter and analyze numerical data using Microsoft Excel

  Present a picture of the shape, center and variability of numerical data

  Present and interpret selected numerical measures of center, spread and shape of numerical data

  Understand appropriate application of measures of center and spread

 Use measures of center and spread to interpret the "Voice of the Process" and distinguish "noise" from process "signals" or outliers

Understand process capability and process variability (compute probabilities)

Use appropriate sample statistics to estimate a population mean

Construct and test hypothesis statements about a population mean

 

Module Notes

The following sub modules contain summary notes for the five topic areas of Module 1.

Module 1.1: Why Statistics for Management?

Module 1.2: Describing Data with Pictures 

Module 1.3: Describing Data with Numerical Summaries 

Module 1.4: Estimating with Confidence 

Module 1.5: Hypothesis-Testing 

Module 1.6: Useful Excel Functions

Text References

D. Anderson, D. Sweeney, and T. Williams, “Essentials of Modern Business Statistics with MS Excel”.  4th Edition, Thompson/Southwestern

D. Groebner, P. Shannon, P. Fry & K. Smith.  Business Statistics: A Decision Making Approach, Seventh Edition, Prentice Hall – Chaps 1, 2, 3, 6, 7, 8, and 9.

Additional text: Ken Black. Business Statistics for Contemporary Decision Making. Fourth Edition, Wiley.