Cambridge Contemporary Business Decision Analysis -- Quantitative Decision Analysis ()

Author: John Powell
Publisher:
Publication Date: 2001-08-01
Features: When was the last time you used a calculator? Does your calculator only have four "arithmetic" functions? Today, most calculators are equipped with "statistics" keys marked with symbols like "on" or "∑x." Most people can calculate the average, but since there are several types of averages, which one is most appropriate? Can the average be enlightening? Or do we need deeper analysis? If so, how should we proceed? Managers in various industries, whether in the private or public sector, and whether in production or service industries, must have the ability to process numerical information and draw conclusions from it. They usually have to go out to gather the necessary information. However, can they truly understand the printed information? If not, might they hesitate to consult the "computer gurus" who provide such information? It seems crucial to realize the potential role of numerical information and the various issues that arise from it. Of course, one does not need to memorize many formulas instantly, but neither should one be deceived or confused. This is not a comprehensive statistics textbook; it is merely a quick introductory guide. Many books can be overly complex while overlooking the need for readers to understand basic concepts. It is hoped that this book will help those who lack confidence in their numerical skills: once simple concepts are grasped, more complex ones will seem less intimidating.