A field in which statistics can play a vital role is quality control. Statistical tools assist in the monitoring and maintenance of product quality. In this course you will explore quality control and how statistical methods are utilized within quality control. You will practice preparation and analysis of charts and determine some additional quality control methods. Additionally, organizations are constantly faced with major strategic decisions. These critical choices are best made using decision analysis tools. Analysis may involve a large number of variables for each item or individual being studied. This type of study, known as multivariate analysis, seeks to shed light on the relationships between all the variables. You will examine several techniques to choose from when undertaking multivariate analysis.
WHAT YOU'LL LEARN
Explore quality control and how statistical methods are utilized within quality control
Examine popular tools such as run charts and control charts, as well as the formulas and procedures they require
Practice preparation and analysis of charts and determine some additional quality control methods
Evaluate one approach used in strategic decision making: decision trees
Define how decision trees are constructed and how optimal choices are determined
Assess the degree of risk that each choice carries and analyze a decision tree that you have constructed
Examine several techniques to choose from when undertaking multivariate analysis
Distinguish the techniques that fit each study based on considerations such as qualitative vs. quantitative variables
Review analysis guidelines to follow and determine the appropriate technique to use in a practice exercise
Cindy van Es is professor of practice in the Dyson School of Applied Economics and Management. She has a PhD in statistics from Iowa State University, and joined Cornell in 1988. She teaches three courses in the undergraduate business program: Introductory Statistics, Business Statistics, and Impact Learning: South Africa. Her general area of interest is statistical education, with a focus on business applications and teaching through social justice examples.
She currently serves as director of Dyson’s Undergraduate Business Program. In this position, she provides strategic leadership and supervision on activities within the undergraduate program at the school, focusing specifically on implementation of the undergraduate curriculum and review of academic policies