StatsRelevanceinBusiness

Bases warned about limitations of statistics in

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Unformatted text preview: about limitations of statistics in Warned decision making (e.g., Role of Park Factors) decision Relevance of Statistics to Management and Business Management Bill James and Baseball Hired by Red Sox owner in 2003 as a Hired consultant; Broke curse with World Series wins in 2004 and 2007 wins Major findings: Team skill best assessed by runs scored, not W/L Prime player age 25-29, not 28-32 Park dimensions impact pitcher/hitter success Minor league stats impt for evaluating prospects Statistics and Probability Statistics Statistics reduce uncertainty for effective Statistics planning, decision making planning, Based on probability and likelihood of results Based probability occurring by chance alone chance alone Ex., MBA program uses a 3-pred...
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This document was uploaded on 02/19/2014.

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