Statistical Thinking For Managers MBA620

Course Description


Description
This course introduces the student to the essential ideas of statistical thinking, which is important for every manager, both in dealing with day-to-day operations and in finding opportunities for improvement. Students will learn: how to gather data usefully, how to summarize data into understandable form, how to use probability ideas in understanding data, how to infer and predict based on data, and how to use modern computers to aid in the process. Case studies and student-designed projects enhance the student's understanding of the practical application of statistical methods.

Objectives
Students Completing this course should:
  1. Have an understanding of the basic theories and logic underlying statistical methods.

    1. Have an understanding of the basic theories and logic underlying description (descriptive statistics), uncertainty (probability), inference (inferential statistics), quality control (statistical process control and process capability analysis) and relationships (regression/correlation).

  2. Be able to use statistical methods as a tool for problem-solving and decision-making.

    1. Have an understanding of various statistical methods and be able to choose the appropriate statistical method to use in a given situation.
    2. Be able to summarize qualitative and quantitative data via graphical and numerical descriptive statistics.
    3. Be able to quantify uncertainty via principles of probability, probability distributions, and sampling distributions.
    4. Be able to answer research questions about unknown populations via statistical inference techniques of estimation and hypothesis testing.
    5. Be able to assess process variation via statistical process control and process capability analysis.
    6. Be able to examine relationships between variables via methods of regression and correlation.

  3. Be able to carry out a statistical study of their own: plan a regression study, gather data, analyze data, and report on study findings.


  4. Be able to interpret and explain the results of statistical analyses.


  5. Be able to read statistical reports generated via statistical analyses.


  6. Be proficient in the use of a statistical software package to analyze data sets.

Materials
Statistics, Data Analysis, and Decision Modeling, by J.R. Evans and D.L. Olson, Prentice Hall, 2000
MBA620 Course Pack, by Szabat.

Requirements
Student are expected to complete weekly reading assignments as well as assigned cases, problems and/or computer projects. Assigned cases, problems and /or computer projects may or may not be collected for evaluation

Evaluation:
   Midterm 35%
   Case Studies 15%
   Project 15%
   Final 35%

Hot Line Center
Office Hours - Tuesdays 5:15 - 6:15 PM and by appontment.

Kathryn A. Szabat, Ph.D.     215-951-1128     szabat@lasalle.edu

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