Statictics for Management Decision Making

• Coursera:
  Exploring and Producing Data for Business Decision Making – Inferential and Predictive Statistics for Business
• Illinois Catalog BADM 572: Statistics for Management Decision Making
• Offered in Spring Term (Jan-May)

Course Description

This course provides an analytical framework to help you evaluate key problems in a structured fashion and will equip you with tools to better manage the uncertainties that pervade and complicate business processes. The course aims to cover statistical ideas that apply to managers. We will consider two basic themes: first, is recognizing and describing variations present in everything around us, and then modeling and making decisions in the presence of these variations. The fundamental concepts studied in this course will reappear in many other classes and business settings. Our focus will be on interpreting the meaning of the results in a business and managerial setting.

Instructor

Course Goals and Objectives

• Summarize large data sets in graphical, tabular and numerical forms.
• Understand the significance of proper sampling and why you could rely on sample information.
• Understand why normal distribution can be used in so many settings.
• Use sample information to infer about the population with a certain level of confidence about the accuracy of the estimations.
• Test for beliefs about a population.
• Use the linear regression model for prediction
• Use Excel for statistical analysis.

• Module 1: Introduction and Summarizing Data
• Module 2: Descriptive Statistics and Probability Distributions
• Module 3: Sampling and Central Limit Theorem
• Module 4: Inference
• Module 5: Hypothesis Testing
• Module 6: Statistical Inference Based on Two Samples
• Module 7: Simple Linear Regression
• Module 8: Multiple Linear Regression

Course Materials

There is no required textbook for this course. Suggested additional readings will be listed in each module on Coursera course. Project Leader: David M. Lane, Rice University.
You can also download the full book in PDF format: Online_Statistics_Education.pdf

Live Session Schedule (Tentative)

March 29th, 2017 – May 23rd, 2017

Course Elements

IN COURSERA

• Lecture Videos
• Readings
• Peer Review Assignment
• Module Quizzes

IN COMPASS 2G

• Individual 2-part assignments/quizzes
• Team assignments
• Team peer evaluations
• Individual Final Exam
• Coursera certificate completion