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statsNotes: Some Statistics for Management Problems

statsNotes: Some Statistics for Management Problems

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  • ISBN-13: 9789814696678
  • Publisher: World Scientific Publishing Co
  • Release Date: Dec 21, 2015
  • Pages: 320 pages
  • Dimensions: 0.9 x 9.7 x 6.4 inches


Managers need access to some statistical advice from time to time to help in solving business problems. Students need access to statistical methods to support work in non-statistics courses, case studies and projects. What is needed will depend on the demands of the problem and how much statistics the manager or student already knows. The requirement is for flexible decision support. This unique book presents statistical ideas and models in easily accessible form describing both methods and issues of application. statsNotes are organized as a set of over one hundred notes rather than as a number of chapters. This enables managers and students to locate just what they need for the problem they have. Each note consists of a description of what to do, an example, the rationale, links to other notes. Managers and students can choose to use as many notes as necessary, which might be just one note or a set of linked notes. Deciding which method will be helpful depends not just on finding an appropriate statistical method but on the business context too. statsNotes provide advice at three levels: Business fit problems from a business viewpoint and how some statistics might help; Perspectives discussion of issues with widespread implications; Implementation how to use a model or method. While the range of topics covered is similar to those in introductory textbooks and courses, the focus is on management decision and the methods for dealing with risky decisions and management judgment in this book are usually found in more specialist texts. Contents: Data Description; Probability and Probability Models for Data and Judgement; Evidence and Bayes' Rule; Risk and Uncertainty; Using Sample Data for Estimating Means, Proportions, Variances and Differences; Monitoring; Significance Testing; Correlation and Simple Regression; Illustrative Applications in Production and Operations and in Finance;

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