Discription

This is an introductory Statistics textbook for management students who require an understanding of the role that statistics plays in supporting management decision making in all areas of business. Its primary focus is to empower management students with statistical decision-making skills so that they become active participants rather than passive observers when interacting with statistical findings as part of a management decision-making process. The emphasis in this book is placed on: • Translating management problems into appropriate statistical approaches • Underscoring the importance of data quality as integral to valid statistical analysis • Identifying likely application areas through numerous illustrative examples • Noting the limitations of techniques for decision analysis; and • The appropriate management interpretation of statistical findings.