1IntroductionMSBsp08

1IntroductionMSBsp08 - Introduction 1/14/08 BUAD 310...

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BUAD 310 Applied Business Statistics Professor Dawn Porter Introduction 1/14/08
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BUAD 310 2 Statistics “There are three kinds of lies -- Lies, damn lies, and  statistics”.    A body of principles and methods for extracting useful  information from data, for assessing the reliability of that  information, for measuring and managing risk, and for  making decisions in the face of uncertainty. Helps you make better management decisions, instead of drowning in a  flood of numbers.   Gives a competitive advantage  Not enough to rely on intuition, experience and hunches.  Methods are used routinely throughout corporate world.   Necessary to know how to deal with numbers all around you: earnings  forecasts, market survey results, quality control studies…
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BUAD 310 3
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4 -0.2 -0.1 0.0 0.1 Oct. 19 crash GM Returns data) •  Doesn’t ignore individual observations (exceptions to the  rule). Statistics
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1IntroductionMSBsp08 - Introduction 1/14/08 BUAD 310...

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