Statistics & Business Analytics

This Core Course is for students in the MBAxMS program and not open to MBA/EMBA students. It introduces students to basic concepts in probability and statistics relevant to managerial decision-making. Topics include basic data analysis, random variables and probability distributions, sampling distributions, interval estimation, hypothesis testing and regression. Numerous examples are chosen from quality-control applications, finance, marketing and management. Students will also learn to model and how computer models can support managerial decision-making. A model is a simplified representation of a real situation, and modeling is the process of developing, analyzing and interpreting a model in order to help make better decisions. Models can be invaluable tools in managing and understanding the complexity and risk inherent in many business problems. As a result, models have become an increasingly important part of business at all levels from daily operations to strategic decision making.