MBE 511: Statistical Analysis: Uncertainty, Prediction and Quality Control

This course focuses on how to use partial information to draw conclusions about the underlying population. Managers will learn how to make inferences about the population based on sample data followed by the study of statistical process control that will enable the monitoring of a production process or service quality. Time will be spent on learning simple and multiple regression which are useful for prediction and forecasting. The module will also consider some other statistical modelling tools and techniques such as non-parametric tools. The emphasis of this module is on learning the methodologies (what they mean and what they are used for, seeing their applications, and interpreting outputs rather than focusing on learning a computer package or on studying the underlying mathematical details. Participants will also practice how to make decisions based on models, data, and quantitative reasoning.