A Given a managerial problem and accompanying data set, construct graphs (following principles of ethical data presentation), calculate and interpret numerical summaries appropriate for the situation. Use the graphs and numerical summaries as aids in determining a course of action relative to the problem at hand.
B Given a managerial problem, utilize basic probability concepts, and standard probability distributions, e.g., binomial, normal, as is appropriate, to formulate a course of action which addresses the problem.
C Given a managerial problem and accompanying data set, for which application of a confidence interval is appropriate, construct an interval, assess its validity, and use the confidence interval in developing a course of action relative to a problem.
D Given a managerial problem and accompanying data set, for which the test of an hypothesis is appropriate, conduct an appropriate statistical test, assess the validity of the test, and use the test results to decide on a course of action relative to a problem.
E Given a managerial problem and accompanying data set, for which regression analysis—simple or multiple—is appropriate, fit a regression model to the data, determine the validity and utility of the model, and use the model, if appropriate, to determine a course of action intended to deal with a problem.
B Given a managerial problem, utilize basic probability concepts, and standard probability distributions, e.g., binomial, normal, as is appropriate, to formulate a course of action which addresses the problem.
C Given a managerial problem and accompanying data set, for which application of a confidence interval is appropriate, construct an interval, assess its validity, and use the confidence interval in developing a course of action relative to a problem.
D Given a managerial problem and accompanying data set, for which the test of an hypothesis is appropriate, conduct an appropriate statistical test, assess the validity of the test, and use the test results to decide on a course of action relative to a problem.
E Given a managerial problem and accompanying data set, for which regression analysis—simple or multiple—is appropriate, fit a regression model to the data, determine the validity and utility of the model, and use the model, if appropriate, to determine a course of action intended to deal with a problem.
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