Statistics and Decision Modeling | Weatherhead School at Case Western Reserve University

Statistics and Decision Modeling

3.00 credit hours

The primary objective of this course, and a goal of the part-time MBA Program, is to make you a competent analyst by providing you with the ability to use, and to communicate with those who use, certain quantitative approaches to help make informed decisions for your organizations. A secondary objective is to provide you with the quantitative knowledge and skills that are needed in other MBA courses. The two groups of quantitative techniques are statistics and decision modeling. The objective of statistics is to summarize and present information contained in data sets, to draw conclusions about large populations based only on information obtained from samples, and, using these conclusions, to obtain reliable forecasts of quantities of interest. Among other things, statistical analysis provides many of the data needed in decision modeling. At the end of this part of the course you will be able to: 1) Summarize data sets using either graphical techniques (histograms, pie charts, and so on) or descriptive statistics (mean, median, standard deviation, and so on). 2) Use computer software to develop estimates and confidence intervals for means and proportions, and analyze the tradeoff between sample size and estimation risk. 3) Use sample data either to support or reject claims about a large population; understand the concepts and consequences of type-1 and type-2 errors. 4) Analyze relationships between two or more quantities of interest and use these relationships to make intelligent forecasts.

No Syllabus Available

Pooyan Kazemian (Spring 2023)

NOTE: Instructors and offerings vary by semester. Visit the Schedule of Classes for the most up-to-date information.