Mat 510 week 11 respond to discussion & student response

This course was informative concerning business concepts. These three concepts stood out the most:

-Statistical inference

–Variations and their causes

3. –Process improvement

The concepts I mentioned are important to someone in the business statistics field. Since taking this class, it has allowed me to look at things differently by way of problem solving and getting down to the root cause of a situation and to come up with the best solution possible for the good of the company. In every business process, there are variations.

Whether the cause of the variation is a common cause or special cause, knowing how the cause-effect the process gives the owner an insight of how to resolve the variation. Once the cause of the variation is known, then the process improvement stage can be implemented. Many different tools can be applied at this stage, but the most beneficial would be stratification or data analyzing.

Statistics can provide objective goals with stand-alone figures as well as hard evidence to substantiate positions or provide a level of certainty in the directions to take the company. Statistics provide managers with more confidence in dealing with uncertainty in spite of the flood of available data, enabling managers to make smarter decisions and provide more stable leadership to staff relying on them more quickly.

I wish all of my classmates the best in future courses and if anyone is graduating this term CONGRATS to you! My next two courses are Accounting and Project Management. I hope to interact with some of you again in future courses!

-Kimberly Woods

OP-THREE CONCEPTS OR SKILLS

Note: Online students, select one of the two subjects to discuss.

• Determine the top three concepts or skills you learned in this course that you believe will be the most useful to you in your present or future professional career or education. Provide at least one specific example to support your response.
• Provide a rationale as to why the three aforementioned concepts or skills are important to someone in the field of business statistics.

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