Today's manager has many tools available to help in decision-making. Statistics is one of these tools. The graduate takes great risk and ignores the power of Statistics. It is not necessary that one become a statistician, but success in business requires an understanding of the language of Statistics, an ability to properly analyze a set of data, correctly interpret the results and recognize any problems that may exist with either the analysis or the interpretation of data. This course will focus on processes and variation in processes.
All processes have variation.
The lesser the variation that exists, the greater the ability of one to make correct decisions. Statistical Thinking is a mindset that recognizes that an enterprise can become more profitable by studying process variation and reducing this variation where it is economically wise to do so.