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Course Objectives
The objective of the course is to assist practicing and future managers in planning, executing, and
evaluating their business. Upon course completion, the student will be able to:
• Understand how to apply statistical analysis to business applications.
• Understand the role of statistics in evaluating managerial models.
• Ask the "right" questions.
• Identify the most important parts of statistical output.
• Be able to explain output in managerial terms.
• See the relevance of statistics and apply the learning to career practice and to other
management courses.
• Solve the problem using the computer and interpret the results in light of the specific
application.
• Assess data analysis and results with healthy skepticism and seek expert help when
needed.
• Recognize when better data and information are needed for decision-making.
Course Description
This course surveys the statistical and mathematical methods that aid managers and administrators
in decision making. The primary emphasis is to prepare you to become intelligent users of these
techniques. Particularly important is understanding the assumptions and limitations of the
techniques and how these might be used outside the classroom environment. This course is designed
to provide students with a conceptual and applied competence in the field of statistics and its many
applications. The course will provide students with a good preparation for the study of more
advanced statistical material.
Course Evaluation
The course will be assessed as follows:
In-Class Evaluations 40%
Final Examination 60%
Total 100%
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There will be 5 evaluations (multiple choice) each worth 8%:
Evaluation #1: Chapters 1, 2, 3
Evaluation #2: Chapters 4, 6
Evaluation #3: Chapters 7, 8, 9
Evaluation #4: Chapters 12, 13
Evaluation #5: Chapters 14, 15
Required Text
Business Statistics: A Decision-Making Approach, 7th edition, D.Groebner, P. Shannon, P. Fry and
K. Smith, Pearson Prentice Hall, 2008.
Recommended Text
A Guide to Understanding Statistics, Surendra Arjoon, UWI Institute of Business, 1999.
9 Analysis of Variance
12.1 One Way Analysis of Variance
Ex: 12.1, 12.2, 12.4, 12.5, 12.8
General Comment
In graduate school, you will not necessarily always understand the material during the lecture. Look
over your notes after class and try to understand every line. You also need to study the notes. If you
still cannot understand, use the resources at your disposal including your colleagues and instructor.
You do not want to fall behind.
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