Authors:
Robert N. Holt, Ph.D., CPA
Courtney Muller
Chapters:
Basic Business Math
Forecasting
Regression Analysis
Probability
Decision Analysis
Appendix A- An Introduction to Sampling
Appendix B- Binomial Distribution Table
Appendix C- Normal Distribution Table
Audience:
Anyone needing to acquire the basic mathematical and statistical skills required to perform operations critical to business functions.
Abstract:
Statistics and basic mathematics skills play an important role in understanding key functions within and external to the company. Therefore an understanding of these topics is important for managers. The purpose of the product is to give the user a broad overview of the basic math and statistics necessary for business and to introduce the most popular forms of forecasting techniques.
Chapter 1 reviews basic business math, including basic algebra, and introduces additional topics such as contribution margin and breakeven.
Chapter 2 discusses forecasting and introduces the reader to simple averages, moving averages and weighted averages.
Chapter 3 covers regression analysis, beginning with simple regression and advancing to multiple regression. Topics include coefficient of determination, degrees of freedom, residuals and zero-one variables.
Chapter 4 introduces probability concepts ranging from simple probability to probability distributions with a particular emphasis on the Normal Distribution. An appendix on sampling follows Chapter 4.
Chapter 5 gives an overview of decision analysis. Decision modeling is emphasized. In particular the construction and interpretation of decision trees is reviewed.