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BUSINESS STATISTICS FOR MANAGERS
(Using Microsoft® Excel)
   
iNTRODUCTION :
 
“This course revolutionalized the teaching of business statistics by integrating the use of MS Excel as a statistical tool for analysis and interpretation to make sound business decisions fast and simple !.”
 

Business managers in the 21st century have access to large amounts of information. A major issue is how to use the available information to make better decisions. Sorting, organizing and analyzing data becomes mere activities unless one is able to gain insights into what the data is revealing and accurately make use of the information for further actions. This training program teaches the basic principles and concepts of the use of statistics for decision-making and demonstrates the power of proven techniques used by highly successful managers in many functional areas of business such as accounting, finance, management, operation, and marketing. Statistics business scenarios are used extensively throughout the course to provide an applied context for the concepts.

Unlike traditional Statistical courses that emphasize on meticulous calculations and deriving formula, this training course smartly utilizes common computer spreadsheet techniques (e.g. MS Excel) to reduce those non-value added and boring tasks such as tedious calculations, graphing and searching of statistical tables into a few clicks of a button on the computer keyboard.


Our emphasis, therefore, is to focus more on value-added tasks such as analyzing data, interpreting results and insights of the workings of statistical methods in business, process controls and decision making methods. Combining various teaching methods such as group discussions and case studies, this program also includes computer simulations with an emphasis on participation throughout. This training program is a must for modern managers, executives and engineers who need to acquire statistical skills quickly and easily in order to make better decisions.

COURSE OBJECTIVES:

At the end of the course, participants will..

  • Understand the overall concepts, principles and methods using Statistics for making business decisions.
  • Utilize the computer to quickly calculate, present and describe information.
  • Utilize the computer to quickly construct powerful tools for problem solving.
  • Know how to draw conclusions about large populations based only on information obtained from samples.
  • Acquire basic knowledge of process control and quality improvement techniques.
  • Understand simple forecasting technique
course contents:


Introduction:

  • Why use MS Excel as a statistical tool?
  • Benefits of charting presentations.
  • MS Excel : Add-in, functions, charts

Presenting Data & Describing Information

  • Collecting and organizing data
  • Accelerated method to construct graphs & charts
  • Accelerated method to construct problem solving tools
  • Get new perspectives on data with pivot table.
  • Descriptive Statistics

Drawing Conclusions from populations, Based on Sample Information

  • Basic Probability & Discrete Probability Distributions
  • Normal Distribution & Sampling Distribution
  • Confidence Interval Estimation

Fundamentals of Hypothesis Testings:

  • What is and why do Hypothesis Testing?
  • One sample testing - - t-test, Z-test
  • Two-sample testing - - Z-test, F-test

Analysis of Variance (ANOVA)

  • What is and why do ANOVA?
  • One-way ANOVA
  • Two-way ANOVA

Statistical applications in quality improvements

  • Law of Variation, Common and Special Causes
  • Basic principle of Statistical Process Control (SPC)
  • What is a control chart?
  • Process improvement and capability

Simple Linear Regression Model and Correlation

  • Types of regression models
  • The Least-Squares method
  • Correlation coefficient
  • Example: Forecasting sales

Exercises:

  • Business scenarios
  • Case studies
  • Decision-modeling
  • Individual & group exercises

**SPECIAL NOTE ** :

In order to achieve the accelerated learning objectives of this course, it is necessary that participants should already know how to use basic computer spreadsheet program (such as Microsoft ® Excel: using formula, edit graphs, printing, etc).

If the participant would like to have prior training on Microsoft® Excel basics before attending this course, please click here to find out more.
who should attend:
  • Managers, Engineers, Executives – all those who need to make business and operational decisions using statistical methods in their work.
administrative details :
Duration : 3 days
Time : 9.00am - 5.00pm
Venue : In-house or public program
Language medium : English
 
 
Trainer :
Nelson Kok (please click here to see trainer's profile)
 
 
 
 

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