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One of the early courses in the MBA curriculum that some students find challenging is DECISION 610W: Probability and Statistics.

### About DECISION 610W: Probability and Statistics

Regardless of the setting, management decisions are often made under conditions of uncertainty. The probability and statistics course will introduce a framework for thinking about problems involving uncertainty and, building on this framework, will develop tools for interpreting data and making predictions. You will gain an understanding of statistical modeling concepts and the ability to interpret statistical analyses and use them in making decisions. You will learn what the analysis can do for you, not just learn a few formulas into which one plugs numbers. The goal is to learn how statistics can be valuable in managerial decision making and to provide an appropriate foundation in probability and statistics for subsequent Fuqua courses.

### What You Should Know

We assume basic proficiency with exploratory data analysis (statistical graphics and summary statistics such as the mean, median, mode, and standard deviation). Familiarity with Excel, with the use of Excel to compute basic summary statistics, and with some basic concepts from algebra will be helpful. Beyond that, you do not need to understand statistical concepts before taking the course. The course is self-contained in that regard.

### What Other Courses Use These Concepts and Skills?

Practically all courses -- especially Economics, Marketing, Finance, Operations Management, Decision Models, and many electives throughout the program.

### What Will Be Covered

The course covers the following concepts:

Introduction to probability, conditional probability, and random variables

Sampling, sampling distributions, estimation, and prediction

Statistical dependence and relationships among variables

Simple and multiple regression

Time series and forecasting

For more details, see the course syllabus (available to admitted students during the pre-reading period).

### To Preview or Review on Your Own

We suggest **Pre-Program Math Foundations software -- ** *Module III* (available to admitted students only).

If you want some exposure to exploratory data analysis (statistical graphics and summary statistics) beyond what is given in the Math Software, any standard business statistics textbook should be suitable.

One of the early courses in the MBA curriculum that some students find challenging is **Decision 610G Statistical Models for the Global Executive**.

### About the course

In the global economy, there is much uncertainty and a great deal of information is available. To make informed decisions, executives must be able to make sense of key uncertainties and the associated risks. Your course will focus on how to improve decision making. Specifically, we will learn how to use various analytical means to help "facilitate a high-quality conversation about decision situations." That is, we will view decisions as central to everything we do in management (and in life). As we will see, our natural decision-making capabilities are strong but have some serious limitations. Therefore we need some additional processes and tools that can fortify human intuition, and help us engage not only our own brains, but those of others in our organizations. This course sharpens quantitative and analytical skills and develops tools for interpreting data and making forecasts.

In the pursuit of decision quality, we will discuss several commonly-used modeling frameworks, and we will study the art of building spreadsheet models to support real-world decision making. We will learn to reason clearly about decisions that involve uncertainty, identify and structure objectives, make tradeoffs between conflicting objectives (including risk and expected return), and optimize the allocation of constrained resources. We will learn how to exploit information - usually data, quantitative information - to improve our estimates and sharpen our judgments about key quantities in our decision analyses. Throughout this journey, we will use Microsoft Excel as a modeling and analysis environment, using various add-in programs as needed.

### What You Should Know

We assume and make use of basic proficiency with exploratory data analysis (statistical graphics and summary statistics such as the mean, median, mode, and standard deviation). We also assume familiarity with the use of Excel to build simple models and compute basic summary statistics. Some basic concepts from algebra and probability will be helpful. Beyond that, you do not need to understand statistics, risk or optimization concepts before taking the course. The course is self-contained in that regard.

### What Other Courses Use These Concepts and Skills?

Practically all courses -- especially Economics, Marketing, Finance, and Operations Management.

### What Will Be Covered

The course will include some of the following concepts:

Using Excel's Solver to search for optimal solutions to complex decision problems

Using decision trees to solve multi-stage problems with uncertainties

Modeling uncertainty and risk using probability and random variables

Using simulation to explore and solve problems with complex uncertainties

Interpreting sample data

Using regression to improve predictions

### To Preview or Review on Your Own

We suggest *Pre-Program Math Foundations* software-*Modules I and III* (available to admitted students only.)

If you want additional exposure to exploratory data analysis (statistical graphics and summary statistics) or to probability, any standard business statistics textbook or workbook should be suitable.

Since Excel is used so intensely in the course, you should be sure your Excel skills are up to the intermediate/advanced level. Please see the Excel page on MBA Ready for study material.

One of the early courses in the MBA curriculum that some students find challenging is DECISION 610C: Statistical Models.

### About DECISION 610C: Statistical Models

Regardless of the setting, management decisions are often made under conditions of uncertainty. The statistical course will introduce a framework for thinking about problems involving uncertainty and, building on this framework, will develop tools for interpreting data and making predictions. You will gain an understanding of statistical modeling concepts and the ability to interpret statistical analyses and use them in making decisions. You will learn what the analysis can do for you, not just learn a few formulas into which one plugs numbers. The goal is to learn how statistics can be valuable in managerial decision making and to provide an appropriate foundation in probability and statistics for subsequent Fuqua courses.

### What You Should Know

We assume basic proficiency with exploratory data analysis (statistical graphics and summary statistics such as the mean, median, mode, and standard deviation). Familiarity with Excel, with the use of Excel to compute basic summary statistics, and with some basic concepts from algebra will be helpful. Beyond that, you do not need to understand statistical concepts before taking the course. The course is self-contained in that regard.

### What Other Courses Use These Concepts and Skills?

Practically all courses -- especially Economics, Marketing, Finance, and Operations Management.

### What Will Be Covered

The course covers the following concepts:

Exploratory data analysis: statistical graphics and summary statistics

Sampling, sampling distributions, estimation, and prediction

Statistical dependence and relationships among variables

Simple and multiple regression

Time series and forecasting

### To Preview or Review on Your Own

We suggest **Pre-Program Math Foundations software***-- Module III* (available to admitted students only.) If you want some exposure to exploratory data analysis (statistical graphics and summary statistics) beyond what is given in the **Math software**, any standard business statistics textbook should be suitable.