Marriort

Introduction To Managerial

Probability & Statistics

MEC 5410

Olin Business School

Washington University

Spring 2012

1. Instructor: Dr. Michael Gordinier, CLU, ChFC

Office : 279 Simon Hall

Phone : 935 - 8745

E-Mail : gordinier@wustl.edu

2. Office Hours: Monday: 4:00 PM - 6:00 PM, or by appointment

3. Help Sessions: Monday: 6:00 – 8:00 PM (Room 120)

4. Class Materials: Packet -- Lecture Notes (Required)

Newbold: “Statistics For Business & Economics” (Optional)

5. Software: Excel (required), Minitab (optional) – See Section #16

6. Course Objectives:

First, the GOOD NEWS: The intent of this ultra fast paced mini course is not to turn you into lean, mean calculating machines. It is not aimed at replacing your sense of business intuition with a blind reliance on formulas. It is not an exercise in worship at the altar of numbers.

The first goal of this course is to raise your consciousness regarding the reality of the business data that you see every day. You will learn how to determine if what you are observing is really significant, or if it could just as easily

be explained by chance.

The second goal of this course is to turn you into both an intelligent dispenser and consumer of statistical data. You'll learn what statistics can and can't do .... how to spot the vulnerabilities of a statistical analysis .... how to probe and intelligently challenge the arguments and claims made by your competitors, consultants, and elected governmental representatives.

As you know by now, at Olin we believe that critical thinking is the cornerstone of effective decision-making, communication, and, ultimately, leadership. To better enable Olin’s MBA students to interact in class, learn fundamental concepts, interview well, and perform at high levels of excellence in their chosen career, students must develop their critical thinking skills.

Critical...