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Management
Statistics
(in traditional Chinese)
Note from the Editor
This casebook provides a series of cases
designed to enhance teaching the application of
statistical tools to real business problems. The
cases were selected to provide opportunities to
apply statistical tools to real problems: often
several tools can be usefully used for the same
problem, depending on the sophistication of the
user. The cases can be grouped by major
statistical topic area (although there is a
great deal of overlap).
Probability and Expected Value
PCB Manufacturing, Inc. presents a
quality control example which appears simplistic
but which raises a number of issues which
provide an opportunity to explore probabilities
in some depth. If students understand
"likelihood functions" the analysis can proceed
even more deeply.
Descriptive statistics
Direct Mail Company Inc. provides a set
of data which, on careful statistical analysis
(means and sequence), contain a terminal message
for the firm. Bamberger's Department Store
requires a good understanding of means and
proportions. Firestone Canada Inc. - "Pay No
Dough If It Doesn't Snow" provides the
context to make informed use of means, standard
deviations, and distributions (including the
normal approximation). Ford Motor Company and
Cruji Management Consulting (A) illustrates
that a good understanding of descriptive
statistics can often suggest directions for
change that produce large cost savings.
Estimation
Four Star Fitness Club and Home Education, Inc.
both require estimates of required financial
reserves. Domglas Inc. is an
example of estimation based on survey data and
provides an opportunity to discuss surveys and
survey methods, as well as the central limit
theorem. The Morrice Collection (A)
provides a good example where simple estimation
techniques were used and had an impact.
Hypothesis testing
J. Walter-Thompson Company Ltd., and Warner-Lambert
Canada Inc. is a complex example where
designing tests appears as the major issue. The
Ian Steele case can be analysed
using a difference-of-means test.
Regression
Alfonso's Department Store tests both marketing
basics and regression model interpretation. Ian
Steele includes seasonality and indices, and
provides an opportunity to build several
regression models. The Morrice
Collection case demonstrates the value of
regression in sharpening estimates and providing
confidence and prediction intervals. Brent-Harbridge
Developments requires that decisions be made
using expected values derived using
probabilities taken from regression models. The
objective in LanCo Catalogue Sales
is to achieve an understanding of factors that
effect returns and a number of analyses help
achieve this understanding. Finally, the
objective in the Northern Napa
Valley Winery, Inc. case is to make a
forecast of future business and a variety of
statistical forecasting methods (including
regression) yield useful looking projections.
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