Course Information


This is a webtext companion site of
Business Statistics


I am looking forward to working with you and hope that you will find the course both enjoyable and informative.

Professor Hossein Arsham      

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  1. Introduction
  2. Welcome Message
  3. Course Description
  4. Course Structure, Its Ingredients & Learning Objects
  5. Required Textbook, List of References and Further Readings
  6. Course Requirements, Grading Criteria & System
  7. Learning Style and Objectives
  8. Student-to-Student: Your Fellow Students' Opinion and Advice
  9. Instructions for Homework Assignment
  10. E-Labs and Computational Tools
  11. The Main Web Sites I Recommend

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Introduction

Students may visit Professor Hossein Arsham in his office located in the Business Center 479. The professor can be contacted by phone at 410-837-5268, fax 837-5722, or by E-mail. To learn more information about Dr. H. Arsham, you may visit his Home Page at http://home.ubalt.edu/ntsbarsh/index.html.

You may seek services (free-of-charge) tutorial help from the Academic Resource Center (ARC) at at Academic Center Room 111-B or by calling at (410) 837 - 5385. Professor Yoosef Kkhadem is the Coordinator of Math Service at ARC. He is knowledgeable, and has both experienced and patient. We are fortunate to have him as the tutor for this course.

Visit also Statistical Data Analysis.

Dear Student

Welcome to: Business Statistics

I am looking forward to working with you and hope that you will find the course both enjoyable and informative.

This is a course in statistics appreciation, i.e. to acquire a feel for the statistical way of thinking. An introductory course in statistics designed to provide you with the basic concepts and methods of statistical analysis for processes and products. The course is tailored to meet your needs in the MBA, and MS programs. Accordingly, all the application problems are borrowed from business and economics such as: Process control (production), Evaluation of the effects of a promotional campaign (marketing), Understanding how your workers approach their jobs (personnel), and Planning the process of ordering supplies (logistics). By the end of this course you'll be able to think statistically. The cardinal objective for this course is to increase the extent to which statistical thinking is embedded in management thinking for decision making under uncertainties. It is already an accepted fact that "Statistical thinking will one day be as necessary for efficient citizenship as the ability to read and write." So, let's be ahead of our time.

This Web site is created for you. No one needs to be ashamed of what he or she does not know or how long it takes to master new information. Learning on the Web can be nonjudgmental and self-paced. Using advantages of this technology to expand learning opportunities is particularly crucial because we live in a time when learning is becoming a necessity not a luxury.

The letters in your course number: OPRE 504, stand for OPerations RE-search. OPRE is a science assisting you to make decisions (based on some numerical and measurable scales) by searching, and re-searching for a solution. I refer you to What Is OR/MS? for a deeper understanding of what OPRE is all about. Decision making process must be based on data neither on personal opinion neither on belief.

By the end of this course you'll be able to apply statistical concepts and methodologies when performing data analysis. You will learn how to execute these analyses using a variety of computers and computer-based tools. You will even learn how to do many of these analyses using that most personal of computer tools, the scientific/business calculator

To be competitive, business must design quality into products and processes. Further, they must facilitate a process of never-ending improvement at all stages of manufacturing. A strategy employing statistical methods, particularly statistically designed experiments, produces processes that provide high yield and products that seldom fail. Moreover, it facilitates development of robust products that are insensitive to changes in the environment and internal component variation. Carefully planned statistical studies remove hindrances to high quality and productivity at every stage of production, saving time and money. It is well recognized that quality must be engineered into products as early as possible in the design process. One must know how to use carefully planned, cost-effective experiments to improve, optimize and make robust products and processes.

Know that data are only crude information and not knowledge by themselves. The sequence from data to knowledge is: from Data to Information, from Information to Facts, and finally, from Facts to Knowledge. Data becomes information when it becomes relevant to your decision problem. Information becomes fact when the data can support it. Fact becomes knowledge when it is used in the successful completion of decision process. The following figure illustrates the statistical thinking process based on data in constructing statistical models for decision making under uncertainties.

Business professionals need a statistical toolkit. Statistical skills enable you to intelligently collect, analyze and interpret data relevant to their decision-making. Statistical concepts enable us to solve problems in a diversity of contexts. Statistical thinking enables you to add substance to decisions.

From Data to Knowledge

Knowledge is more than knowing something technical. Knowledge needs wisdom. Wisdom is the power to put our time and our knowledge to the proper use. Wisdom comes with age and experience. Wisdom is the accurate application of accurate knowledge. Wisdom is about knowing how something technical can be best used to meet the needs of the decision-maker. Wisdom, for example, creates statistical software that is useful, rather than technically brilliant. For example, ever since the Web entered the popular consciousness, observers have noted that it puts information at your fingertips but tends to keep wisdom out of reach.

The Devil is in the Deviations: Variation is an inevitability in life! Every process has variation. Every measurement. Every sample! Managers need to understand variation for two key reasons. First, so that they can lead others to apply statistical thinking in day to day activities and secondly, to apply the concept for the purpose of continuous improvement. This course will provide you with hands-on experience to promote the use of statistical thinking and techniques to apply them to make educated decisions whenever you encounter variation in business data. You will learn techniques to intelligently assess and manage the risks inherent in decision-making. Therefore, remember that:

Just like weather, if you cannot control something, you should learn how to measure and analyze, in order to predict it, effectively.

If you have taken statistics before, and have a feeling of inability to grasp concepts, it is largely due to your former non-statistician instructors teaching statistics. Their deficiencies lead students to develop phobias for the sweet science of statistics. In this respect, the following remark is made by Professor Herman Chernoff, in Statistical Science, Vol. 11, No. 4, 335-350, 1996:

"Since everybody in the world thinks he can teach statistics even though he does not know any, I shall put myself in the position of teaching biology even though I do not know any"

Plugging numbers in the formulas and crunching them has no value by themselves. You should continue to put effort into the concepts and concentrate on interpreting the results.

Even, when you solve a small size problem by hand, I would like you to use the available computer software and Web-based computation to do the dirty work for you.

You must be able to read off the logical secrete in any formulas not memorizing them. For example, in computing the variance, consider its formula. Instead of memorizing, you should start with some whys:

i. Why we square the deviations from the mean.
Because, if we add up all deviations we get always zero. So to get away from this problem, we square the deviations. Why not raising to the power of four (three will not work)? Since squaring does the trick why should we make life more complicated than it is. Notice also that squaring also magnifies the deviations, therefore it works to our advantage to measure the quality of the data.

ii. Why there is a summation notation in the formula.
To add up the squared deviation of each data point to compute the total sum of squared deviations.

iii. Why we divide the sum of squares by n-1.
The amount of deviation should reflects also how large is the sample size. Therefore, we must bring in the sample size (n) while computing the variance. That is, in general larger sample size have larger sum of square deviation from the mean. Okay. Why n-1 and not n. The reason it is when you divide by n-1 the sample's variance provide a much closer result to the population variance than when you divide by n, on average. You note that for large sample size n (say over 30) it really does not matter whether you divide by n or n-1. The results are almost the same and acceptable. The factor n-1 is so called the "degrees of freedom".

This was just an example for you to show as how to question the formulas rather than memorizing them. In fact when you try to understand the formulas you do not need to remember them, they are parts of your brain connectivity. Clear thinking is always more important than the ability to do a lot of arithmetic.

When you look at a statistical formula the formula should talk to you, as when a musician looks at a piece of musical-notes he/she hears the music. How to become a statistician who is also a musician?

The objectives for this course is to learn statistical thinking; to emphasize more data and concepts, less theory and fewer recipes; and finally to foster active learning using, e.g., the useful and interesting Web-sites.

For my teaching philosophy statements, you may like to visit the Web site On Learning & Teaching.

Feel free to contact me via phone, fax, or email. There is a lot of material to cover, so let's start now!

Course Description

Statistical summary measures, probability, random variables and their distributions. Estimation and hypothesis testing, correlation and regression analysis, ANOVA, and their applications to business problems will be presented.

Course Structure, Its Ingredients & Learning Objects

Course Structure: Your course materials are divided into the following ordered topics:

An overview of statistical thinking; Descriptive statistics; The meaning of probability; Random variables and Probability Distributions; Goodness-of-fit tests; Runs test; Point estimate and confidence interval; Tests of hypotheses for one and two population; Contingency tables; Regression analysis and Analysis of variance.

Course Ingredients: The Course Ingredient Components Include:

  1. A set of Technical Keywords and Phrases,
  2. A Collection of Problem-Solving Methodologies, and
  3. Managerial Interpretations, Their Implications and Applications.

What Is Managerial Interpretations? The decision problem is stated by the decision-maker often in some non-technical terms. When you think over the problem, and finding out what module of the software to use, you will use the software to get the solution. The solution should also be presented to the decision-maker in the same style of language, which is understandable, by the decision-maker. Therefore, just do not give me the printout of the software. You must also provide managerial interpretation of the solution in some non-technical terms.

Learning Objects: There are varieties of sources in helping you to understand the foundation of statistical thinking for decision making. Each of the following items provides you with different perspective on our weekly topics.

  1. Textbook: Your textbook is the main source reading and the exercise before your each class meeting.
  2. Lecture Notes: Lecture notes are not your textbook substitute. They are designed to meet your needs, as I perceive while lecturing.
  3. Live Lectures & Handouts: The lectures are the bases of your interactions as a learning process, with your classmates and me.
  4. External Web Sites: The external weekly Web sites are directly relevant to the topics of the week. These reviews serve you as specialized "invited speakers" to our classroom.
  5. Computer Assisted Learning: My teaching style deprecates the 'plug the numbers into the software and let the magic box work it out' approach. The E-labs is an effective tool for experimentation in serving your needed "hand on experience" for understanding the managerial implication of the concepts for yourself.

I am sure that your careful readings and effective use of the above learning objects, provide various perspectives, create a deeper understanding of the topic, together with the wholeness and manifoldness of this course.

Link to Business School Mission:

  1. Integration of functional areas is accomplished by emphasizing applications related to statistics.
  2. Life long learning skills are developed by the processes involved in structuring problems, building statistical models for a variety of decision making situations.
  3. Information technology implications are addressed by requiring students to use popular statistical software in obtaining solutions to statistical models.
  4. Impact of globalization is introduced through statistical modeling which is universal.
  5. Ethical dimensions are included by addressing integrity issues in data collection and estimating the necessary parameters to build the statistical models.
  6. Collaboration is emphasized by encouraging students to work in groups to learn.

Required Textbook, List of References and Further Readings

Required Textbook:

Business Statistics by Examples , 5th ed., by Terry Sincich, ISBN number: 0-02-410441-8, Prentice Hall, New Jersey, 1996.

Your textbook is available at the UB Bookstore, (410) 837-5604.

Copies of the textbook are available at the "Reserved Books" section of the Langsdale Library.

The textbook chosen for this course is excellent. It is a modern, well written and clear account of the issues facing anyone doing business statistics. It is easy to read, has broad coverage and is eminently suitable for self study with many examples.

Some Business Statistics textbooks are located at the following stacks: HA29, HC101, HF1017 at the Langsdale Library.


Learning Style and Objectives

Learning Style For This Course: An efficient and effective learning begins with asking yourself How to Study? I would like to insist that most parts of this course require a particular learning style. The effective and efficient learning style for this course is doing your homework assignments on a regular weekly basis and learning from your mistakes whenever I provide feedbacks.

I am sure you will be enthusiastic about the topics covered in this course throughout the semester and beyond. Enthusiasm is one of the most powerful engines of success. When you do study for this course, do it with all your might. Put your whole mind into it during the semester. Stamp your work with your own personality when submitting them to me. Be active, be energetic, be enthusiastic and honest, and you will accomplish the objectives of this course. Remember that, learning-to-learn was never achieved without enthusiasm.

When you have successfully completed this course, you will be able:

  1. To understand the nature of statistical inference; that is, its scope and limitations and its proper role in the process of scientific investigation.
  2. To be able to express a generally posed scientific question as a statistical question.
  3. To be familiar with a variety of commonly used techniques and the models underlying them.
  4. To be able to recognize the nature of, and to model, the random variation underlying given a data set.
  5. To recognize the important characteristics, key words, phrases, and concepts statistical data analysis (i.e., professional identity).
  6. To be able to use statistical packages to perform statistical calculations.
  7. To be equipped with a variety of techniques for condensing statistical data, in preparing to make inferences about a population based on a sample from it.
  8. To be able to decide how to obtain a suitable random sample from the entire population.
  9. To understand the role that statistical data analysis plays in managerial decision making under risk.

Course Requirements, Grading Criteria & System

Grading Criteria
Homework assignments 15%
Computer assignments 10%
Web sites review 5%
Mid-term examination 30%
Final examination 40%

Notices:

  • Homework: Weekly homework will be assigned and graded by the instructor.

  • Computer assignments: The computer-assisted learning assignments provide you a "hands-on" experience which will enhance your understanding of the concepts and techniques covered in this course.

    As you used to do experiments in physics labs to learn physics, computer-assisted learning enables you to use any online interactive tools available on the Internet to perform experiments. The purpose is the same, i.e., to understand statistical concepts using JavaScript e-labs which, are entertaining and educating.

    The appearance of computer software, JavaScript Applets, Statistical Demonstrations Applets, and Online Computation are the most important events in the process of teaching and learning concepts in model-based statistical decision making courses. These tools allow you to construct numerical examples to understand the concepts, and to find their significance for yourself.

    Unfortunately, most classroom courses are not learning environment. The way the instructors attempt to help their students acquire skills and knowledge has absolutely nothing to do with the way students actually learn. Many instructors rely on lectures and tests, and memorization. All too often, they rely on "telling." No one remembers much that's taught by telling, and what's told doesn't translate into usable skills. Certainly, we learn by doing, failing, and practicing until we do it right. The computer assisted learning serves this purpose.

  • Web Sites Review: Think about these questions as you review the assigned Websites:

    • What does the Website provide?
    • How do you benefit from online material?
    • What are some of the distinguishing characteristics of the Website?
    • How is learning facilitated using the Web as an educational tool?

Your reviews allow you to understand the same concepts covered in your textbook and the lecture notes from different perspectives. To maximize the outcome of your learning-to-learn process efforts, visit the Web site The Impact of the Internet on Learning & Teaching.

Grading System
90-10080-8970-7965-69 60-64O.W.
A
B +
B
C +
C
F

Instructions for Homework Assignment

  1. Weekly homework (HW) will be assigned and graded by the instructor.

  2. Students must seek tutorial help from the Academic Resource Center at 410-837-5385, Email, located at AC 111.

  3. Students should attempt as many of the problems in each chapter as possible. At least one problem representative of each topic covered in the classroom should be attempted. Suggested problems would include those for which solutions are available in the back of your textbook. Problem formulation and solving are an important aspect of learning statistics. It is therefore important that you regularly do your homework assignment selected from the text.

  4. The use of a scientific calculator is required for the course and should be brought to each class meeting.

  5. Keep a copy of your complete homework and any other material before submitting for grading. Keep the copy until you receive a grade notification form me. These steps will ensure the safety of any material that is lost or unduly delayed. If some material are delayed or lost, i.e., not received on time, you will be ask to resubmit another copy. In the unlikely event that you are unable to resubmit another copy, you will be required to redo it.

  6. The video series Against All Odds: Inside statistics, staring Professor Teresa Amabile at the Harvard Business School, is a nice and effective introduction to statistical thinking. All 26 half-hour episodes are available from the Langsdale Library, Ref. No: QA276.A35 1989 VC v. 1-26. An additional set of these videos are on reserve at the Academic Resource Center.

    Many students find it helpful to learn statistics. I strongly suggest to view them a few times.

  7. All students are expected to follow the Academic Honor Code of UB.
    "Academic honesty is based on the principle that one's work is one's own. The University of Baltimore Academic Integrity Policy encourages all members of the University to accept responsibility for taking academic honesty seriously by being well-informed, by contributing to a climate in which honesty is valued, and by considering responsible ways to discourage dishonesty in the work of others. Students, faculty, administrators, and staff should not condone or tolerate cheating, plagiarism, or falsification, since such activity negatively affects all members of the academic community." Academic Integrity Policy and Procedures. Student Handbook: 2, II.B., 1994.

  8. Examination Facts: Exams are 2-hours long, in-class, closed book and closed-notes. You may bring a few prepared summary-sheets.

    You will also need a scientific calculator, and a blue book (available at the Bookstore).

    When taking your exam, present your work in detail. This will allow me to give partial credit.

    The exams are not in any particular format so expect both standard numerical problem solving and conceptual type questions. The exams will test your understanding of the material covered in this course. The main purpose of taking the examinations is to find out how reflective your mind is in answering a set of questions correctly. The objective is to maximize the number of correct solutions, subject to a limited time constraint (a 2-hours session). Samples of past exams are available on this Web site for inspection.

    To prepare yourself for exams, review all topics, homework assignment and lecture notes.

  9. Summary Sheets: Your mind is what your brain does. Self-consciousness is self-knowledge. The process of becoming conscious distributes what you know throughout your brain via the brain neural network branches, unlike memorizing, which connects only two nodes of the network. The availability and expansion of what you know throughout your neural network branches make the information processing of your brain accurate. Thus, you possess a reflective, brilliant knowledgeable mind.

    The process of making your own summary-sheet is the idea of contemplating the topics you have learned. By definition of esthetics, the longer you contemplate on what you have learned the more beautiful the subject mater becomes. Beauty and contemplation is distinguished from other mental manifestations; contemplation is the result of the perfect apprehension of relations and topics.

    Use the following Guide to Prepare Your Summary Sheets:

    1. Write everything you know about the topics, one by one.

    2. When you can't think of anything more, give yourself time to look for topics and details you may have missed.

    3. Ask yourself, is there anything else I may have missed? Be as inclusive as possible.

    4. Summarize your writing to create fewer pages.

    5. Re-organize to make even fewer pages.

    6. Ask, How do the topics fit together? What elements are related and how?

    7. Ask, What is the significance for me? What can I do with it? What are the implications?

    8. Go back to step 3, until you have as few pages of summary as possible.

The above process helps to crystallize your mind to be reflective and responsive to questions posed about topics you've learned in this course and reinforces the topics in your mind.

E-Labs and Computational Tools

The Value of Performing Experiment: If the learning environment is focused on background information, knowledge of terms and new concepts, the learner is likely to learn that basic information successfully. However, this basic knowledge may not be sufficient to enable the learner to carry out successfully the on-the-job tasks that require more than basic knowledge. Thus, the probalility of making real errors in the business environment is high. On the other hand, if the learning environment allows the learner to experience and learn from failures within a variety of situations similar to what they would experience in the "real world" of their job, the probalility of having similar failures in their business environment is low. This is the realm of simulations-a safe place to fail.

The appearance of statistical software is one of the most important events in the process of decision making under uncertainty. Statistical software systems are used to construct examples, to understand the existing concepts, and to find new statistical properties. On the other hand, new developments in the process of decision making under uncertainty often motivate developments of new approaches and revision of the existing software systems. Statistical software systems rely on a cooperation of statisticians, and software developers.

Beside the statistical software, Java Applets, Online statistical computation, and the use of a scientific calculator is required for the course. A Scientific Calculator is the one, which has capability to give you, say, the result of square root of 5. Any calculator that goes beyond the 4 operations is fine for this course. These calculators allow you to perform simple calculations you need in this course, for example, enabling you to take square root, to raise e to the power of say, 0.36. and so on. These types of calculators are called general Scientific Calculators. There are also more specific and advanced calculators for mathematical computations in other areas such as Finance, Accounting, Civil Engineering, and even Statistics. The last one, for example, computes mean, variance, skewness, and kurtosis of a sample by simply entering all data one-by-one and then pressing any of the mean, variance, skewness, and kurtosis keys.

Without a computer one cannot perform any realistic statistical data analysis. Students who are signing up for the course are expected to know the basics of Excel, and other popular Spreadsheet.

As a starting point, you need visiting the Excel Web site created for this course. If you are challenged by or unfamiliar with Excel, you may seek tutorial help from the Academic Resource Center at 410-837-5385, E-mail.

This section is a part of the JavaScript E-labs learning tools for decision making. The following is a classification of statistical JavaScript by their application areas:

MENU

1. Summarizing Data
2. Computational probability
3. Requirements for most tests & estimations
4. One population & one variable
 
5. One population & two or more variables
6. Two or three populations & one variable
7. Several populations & one or more variables

The Main Web Sites I Recommend

The following main statistical web sites and the lecture notes, together with your textbook contain all the materials you need to learn statistics. Make sure to visit these sites at least once a week to learn more on the related topics covered in this course.

Some other useful and specialized web sites are linked to your Weekly Topics pages.

General main statistical Web sites:


Web sites containing statistical keywords & phrases:

The following Web site collection provide a wide range of keywords & phrases. Visit these sites weekly to learn the language of statisticians.


Statistical Computation and Tables:

The following Web sites provide statistical computations and tables such ad critical values useful in statistical testing and construction of confidence intervals. The results are identical to those given in your textbook. However, in most cases they are more extensive (therefore more accurate).

Student To Student:
Your Fellow Students' Opinion and Advice

The following is a collection of comments on the value of the course from last semester's students. I am sure you will benefit from their experience and their precious advice for your success upon taking this course. As you can see, the most frequently mentioned recommendation is to keep up with the work and complete all assignment prior to coming to class.

  1. As an engineer pursuing my MBA, I found Dr. Arsham's course on Business Statistics to be the most useful course I've taken to date at UB in Bridging the gap between the technical world and that of the managerial. Dr. Arsham is able to bring numbers and statistics alive and give them meaning. As An instructor he is both disciplined and understanding of student needs.
    While he is uncompromising in his method of teaching and rigorous in his treatment of the material, he is also most forgiving as I grew as a student under his tutelage.
    In past courses I have never had difficulties with mathematics such as calculus or differential equations, but statistics and probability courses have always vexed me. For the first time in my life, Dr. Arsham has enabled me to grasp the elusive meaning and mechanics of statistical analysis. Indeed, I've even purchased and began reading one of the books from his "recommended reading list" in order to continue my growth in this subject area. At this point I can honestly say that a well-founded knowledge of basic statistics may be the most important class a business student should consider taking. I HIGHLY recommend his course to any serious student who really wants to know how to analyze and understand statistics.

  2. Dr. Arsham is very knowledgeable on the subject and is able to provide real world examples. His lectures are thought provoking and simplistic enough to engage your work. My suggestion to the following classes is to keep up with the reading and pay attention to the lectures. The text, the lectures, and the lecture notes, provide all the information that you will need for the homework and the exams. If you keep up with the homework, the reading, and attend class, the class is very passable. If not, you will be in for a long semester. Good luck to you as you embark on the adventure of learning a new language.

  3. OPRE 504 is a well-rounded class with opportunities to learn from the Web sites the lectures, book and lecture notes. The lectures were particularly helpful as Dr. Arsham spoke a lot about the concepts that are important, why they are important, and what they mean. Dr. Arsham also takes the time to review the highlights throughout the course, as well. It was helpful to have this conceptual information to see how the pieces fit together. The course information Web site was very useful- to check your homework, to use E-labs to complete assignments, for reading about special topics, and to use practice questions and practice exams. The web site reviews were fun too, who knew there was so much information available about statistics? Some of them were really fun with neat graphics.

  4. Given the often-complex subject matter, which for those who are unable to analyze and interpret statistical methods and concepts, Professor Arsham did an admirable job of motivating me to succeed. He took the time to excite the class into believing that business statistics, in its purest form, can be used in most everyday activities. After taking this class with Professor Arsham, I feel better prepared to utilize what he taught me in other classes in my pursued of my MBA. Thank you Professor Arsham.

  5. I had a great opportunity learning about Business Statistics for decision-making subject with this course. Before taking course I have little knowledge about statistics which most of them I could not even remember. I love studying with the numbers and the course was based on the numbers. That is another subject I like about the course. The exams' style makes students not to memorize, instead make them to understand and learn. In my personal view understanding and learning are much better than memorizing. Because memorizing is short-term whereas understanding is long term. To tell the truth about the course web site although it is complicated it gives all the information that I need. I did not even buy the book, but study lecture notes and course notes on the web. So that it was very helpful for me. Also I learned several useful web sites because of the links in the course web site.

  6. As an engineer pursuing my MBA, I found Dr. Arsham's course on Business Statistics to be the most useful course I've taken to date at UB in bridging the gap between the technical world and that of the managerial. Dr. Arsham is able to bring numbers and statistics alive and give them meaning. As an instructor he is both disciplined and understanding of student needs. While he is uncompromising in his method of teaching and rigorous in his treatment of the material, he is also most forgiving as I grew as a student under his tutelage. In past courses I have never had difficulties with mathematics such as calculus or differential equations, but statistics and probability courses have always vexed me. For the first time in my life, Dr. Arsham has enabled me to grasp the elusive meaning and mechanics of statistical analysis. Indeed, I've even purchased and began reading one of the books from his "recommended reading list" in order to continue my growth in this subject area. At this point I can honestly say that a well-founded knowledge of basic statistics may be the most important class a business student should consider taking. I HIGHLY recommend his course to any serious student who really wants to know how to analyze and understand statistics.

Back to
Business Statistics: Revealing Facts from Figures
main Web site.