To gain these benefits, supervisors need to understand how to use statistics to provide performance response information in alternative scenarios. Participants will learn how to build models based on logic and experience, create statistics using links from Excel 2010, and translate results into implications for decision makers. The author emphasizes the effective communication of the results in plain English and with convincing graphics in the form of Memos and PowerPoints.
Statistics, from the basics to sophisticated models, are illustrated by examples that use real-world data on how students will live in their roles as supervisors. A number of examples focus on doing business in emerging global markets with a particular focus on China and India. The results are linked to decision-making implications; women sensitivity analyzes serve to illustrate how choice scenarios can be compared. The chapters contain screenshots to make it easier to do Analyzes in Excel 2010 with time-saving shortcuts that are expected in the business world.
PivotTables and PivotCharts, which are commonly used in business, are being implemented from the beginning. The Monte Carlo simulation will be introduced early to illustrate the range of possible outcomes from policymakers’ assumptions and underlying uncertainties. Regression modeling is presented as a process that offers a higher level of complexity with chapters on multicollinearity and remedies, prediction and model validation, autocorrelation and remedies, indicator variables to represent segment differences, and seasonality, structural shifts, or shocks at time series models. Special applications in market segmentation and portfolio analysis are offered and an introduction to the conjoint analysis is included. Nonlinear models are motivated by arguments of decreasing or increasing edge response, and a chapter on logit regression models introduces models of market shares or proportions. The second issue contains more explanations on hypothesis testing and confidence intervals in that F and Chi-square distributions behave.