Statistics for Managers
Revision for Statistics for Managers: notes on 12 units, 510 practice questions with explanations, 134 flashcards and 161 common traps, plus timed mock papers marked like the real quiz (+1 correct · −0.25 wrong · 0 blank). Free, and it remembers what you get wrong.
What's covered
Statistics & the vocabulary of data
What statistics is · Element, variable, observation, dataset · Textbook: Data and Statistics
The four scales of measurement
The four scales · Cross-sectional and time series · Textbook: Data and Statistics
Sources, samples & analytics
Sources and types of collection · Population, sample and analytics · Textbook: Data and Statistics · Textbook: Sampling and Sampling Distributions
Summarising data
Tables and charts, by data type · Cross-tabulation and Simpson's paradox · Practice questions from the lecturer: Chapter 2 · Textbook: Descriptive Statistics: Tabular and Graphical Displays
Measures of location
The five averages · Percentiles and quartiles · Textbook: Descriptive Statistics: Numerical Measures
Measures of spread & distribution shape
Measures of spread · Shape, z-scores and the two rules · Outliers, five-number summary and box plots · Practice questions from the lecturer: Chapter 3 · Textbook: Descriptive Statistics: Numerical Measures
Covariance & correlation
Covariance and correlation · Textbook: Descriptive Statistics: Numerical Measures · Textbook: Discrete Probability Distributions
Probability foundations
Experiments, sample spaces and counting · The three ways to assign a probability · Textbook: Introduction to Probability
Probability laws & Bayes
The laws · Bayes' theorem · Practice questions from the lecturer: Chapter 4 · Textbook: Introduction to Probability
Probability distributions
Random variables and expected value · Binomial, Poisson and the normal · Normal probabilities in practice · From a probability back to a value · The exponential distribution · Case: Specialty Toys — how many to order · Profit scenarios and the service-level order · Case: Go Bananas — setting a shutdown rule · Building a probability table in Excel · Case: McNeil's Auto Mall — staffing with the Poisson · Live Lecture 4: exact vs cumulative, and exam hints · Practice questions from the lecturer: Chapter 5 · Practice questions from the lecturer: Chapter 6 · Textbook: Discrete Probability Distributions · Textbook: Continuous Probability Distributions
Sampling & sampling distributions
Why we sample · Finite and infinite populations · Point estimation · Drawing a random sample in Excel · Sampling distribution of x̄ and the standard error · The central limit theorem · How close is x̄ to μ? · Sampling distribution of p̂ · Stratified, cluster and systematic sampling · Convenience and judgement sampling · Practice questions from the lecturer (L#20) · Case: Marion Dairies (BlueGurt and StrawGurt) · The Marion Dairies sheet in Excel · Textbook: Sampling and Sampling Distributions
Confidence intervals & sample size
Why interval estimation: Sahyadri Retail Mart · Margin of error and the interval for μ (σ known) · Discount Sounds: 90%, 95% and 99% intervals · Practice questions from the lecturer: Chapter 8 · Textbook: Interval Estimation
Other Semester 1 courses
- Foundations of Computing 356 questions
- Economic & Business History 369 questions
- Algorithmic Thinking in Business 401 questions
- Financial Accounting 312 questions
- Principles of Marketing 294 questions