Some Missing Tools For Business Statistics: How To Teach Them

Abstract

Missing from business statistics texts are several tools, but how does one add additional material to an already crammed, required course?  We briefly describe these tools.  This paper explains how to incorporate these missing tools in a time-efficient manner.  We show how to teach them in a way that helps students to: (1) learn basic statistical concepts, (2) distinguish the two kinds of variation, (3) find structure within data, and (4) set priorities on problems.  By learning these four concepts at the beginning of a statistics course, students will then have a solid, practical foundation for learning the remaining statistical material to be covered.