Statistical Reviews

Comments:

The document highlighted a series of statistical operations that are important in management, one of these concepts is the probability that is determined by the frequency of the different groups, such as the probability of selecting a male with aged 16-21 years. Apart from the likelihood of document also stresses the importance of the average deviation, median and standard on the decision-making practical example is the one where the average age of workers will help a manager to decide whether to change the current insurance provider, the mean age will help to determine whether this change will result in an increase or reduction of costs.

The document also stresses the importance of correlation in statistics, correlation value helps determine how two variables are related, there is a distinction between correlation and causation, as the writer a high correlation value positive does not mean that an increase in one variable causes the other variable to increase when the variable correlation is high and a researcher wants to determine whether a variable is dependent on the other, then a chi-square test for independence was conducted.

Finally, the paper highlights the process of analysis variance that is used when comparing mean values, comparing values towing then a T test applies, however when comparing more than two values then used ANOVA analysis. The paper is educational by which aid in the understanding of various statistical concepts and how can be used in decision making, however the author should have used an example to illustrate the different techniques and interpret the results.

References

Blumen, G. (2008). Elementary Statistics, Fourth Edition. NY: McGraw-Hill

Clark, J (2009). EZ statistics. NY: Series educational barons.

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