Implementing Scientific Decision Making
Summary statistics are one way to forecast uncertain outcomes, and the statistical results can be used to make decisions or guide strategy. Since summary statistics are based on a data sample, they typically inform intuitive decision-making. That is, the model requires interpretation which relies on the business intuition of the person using it.
You’ll learn how to examine sample data scientifically to limit any generalizations to only the patterns that have the strongest statistical support. As always, intuition and business knowledge play an important role in the process, but this course will prepare you to apply a level of scientific rigor that will lead to better results.
Who Should Take this Course?
This course is appropriate for anyone from analyst to the SVP with no background in statistics. It is designed for individuals who need to perform analysis to support decision making. The course content draws on examples across all business types.
Participants who complete this course will be able to...
- Formulate a question as a null and alternate hypothesis
- Calculate a test statistic from sample data
- Identify the statistical test most appropriate for testing your hypothesis
- Determine the likelihood of finding a result at least as extreme as the test statistic assuming the null hypothesis
- Chris Anderson, Ph.D., Associate Professor , School of Hotel Administration, Cornell SC Johnson College of Business
Estimated Hours to Complete Course: 9.0
About the School of Hotel Administration at the Cornell SC Johnson College of Business
The School of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.