Managerial Decision Making –


(3 credits)

This course introduces a practical, analytical approach to managerial decision making. Analytic thinking, systems thinking, and creative thinking will be employed in the context of a variety of business problems. Topics include decision-making models; dealing with the certain, the uncertain, and the unknowable; managing risk; sensitivity analysis; probabilistic decision models; survey design; and regression analysis.
This graduate-level course is 6 weeks. This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Advisor.

Research and Data

  • Distinguish among what is knowable, unknowable, and researchable.
  • Distinguish between secondary and primary research.
  • Identify tools of data analysis.
  • Describe the different levels of measurement.
  • Explain the concepts of validity and reliability of data.
  • Distinguish among sampling methods.

Descriptive Statistics and Basic Probability

  • Analyze data using descriptive statistics.
  • Apply basic probability concepts to facilitate business decision making.
  • Distinguish between discrete and continuous probability distributions.
  • Apply the normal distribution to facilitate business decision making.

Hypothesis Testing

  • Apply inferential statistics in solving business problems.
  • Determine an appropriate sample size.
  • Apply confidence intervals in solving business problems.

ANOVA and Nonparametric Testing

  • Apply the output from an Analysis of Variance (ANOVA) to solve a business problem.
  • Apply nonparametric tests in solving business problems.


  • Describe the use of correlation in making business decisions.
  • Apply linear regression and correlation analysis.
  • Interpret the output produced by a multiple regression analysis.

Time Series and Forecasting

  • Describe the use of time series analysis and forecasting in making business decisions.
  • Apply time series analysis and forecasting.

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