Statistical Methods Skills to Learn for Managers & Leaders - 1100 Words

Statistical Methods: Skills to Learn for Managers & Leaders (Essay Sample) Content: Statistical MethodsStudents NameCourse name and numberInstructors nameDate submittedStatistical MethodsStatistics refers to the body of different processes that allow various characteristics occurring in the population to be inferred through a process of observation that is made in a representative sample. It is also important to note that scientists always do not deal with the entire population but the samples of the entire population (Lehmann et al., 2006). Working with a sample makes the statistical inferential and sampling important in statistics. In this discussion we are going to look at two methods descriptive and inferential statistics.Descriptive statistics is important when it comes to the presentation and visualization of the data especially when the data is big. It enables people to present data in a way that is meaningful and a way that is going to allow easy and simple interpretation of the data. Descriptive statistics is going to enable the person show how the data was distributed or spread. In descriptive statistics, there are two most important ways of describing statistics and they include:1. The measure of the central tendency; it is the way of describing the central position regarding the frequency of a particular set of data. The description of the central tendency normally takes place through the description of the mean, median and mode. The measure of central tendency is sometimes referred to as the measure of the central location.2. Measures of spread: it refers to the ways that are involved in the summarizing of a group of data. It helps in the process of summarizing the spread of the data that one is dealing with. In this case a large number of statistics is available to deal with the data and they include; quartiles, range, variance, absolute deviation and standard deviation.Inferential statisticsInferential statistics refers to the techniques that allow people to use the samples to make a generalization regarding the place where the samples were collected (Lehmann et al., 2006). It is critical that the samples that one is going to use in this case are a good representation of the population. The inferential statistics tend to arise because of the fact that sampling will naturally incur the sampling error and therefore, we do not expect the sample to represent the entire population in an accurate manner. There are two types of inferential statistics and they include the estimation of parameters and the hypothesis testing.Utilization of the statistical analysis in Quality assurance and controlThe accuracy and quality of data is important if the data is going to play a role in the process of decision making. It is possible to achieve accuracy and quality if the data is produced by a valid analytical system (Montgomery, 2007). It is impossible to have an evaluation of a set of data unless we have the knowledge of all the critical aspects of the production of the data. After finding out the source of the data is valid, it is important to then use the science of statistics in the process of decision making regarding the accuracy and precision of the data. A definite measurement process must be put to use and it should be stabilized so that it can be able to produce a reproducible result (Montgomery, 2007). When we reach this level, this process would be regarded as having attained the level of the statistical control. In regard to quality control, it is a term that is describing the activities that have been undertaken so that they can be able to achieve and maintain the statistical control. The general idea tends to involve the process of conducting important measurements that are consistent to the protocols. The protocol will involve the use of highly competent personnel that tend to use the suitable facilities together with the methodology that is appropriate and it is also well calibrated. It involves the use of the standard operations procedures in carrying out of the measu rements and samplings. The measurements and programs are all conducted in accordance to the protocol regarding the specific purpose. It is always important to carry out inspections that are going to determine that all the operations are going according to plan. The critical aspects involving the program should be well and fully documented. The process of statistical control is monitored and controlled by the samples that are being analyzed.Importance of statistical skills for managers and leadersIn todays business world the managers tend to face a lot of complexities in regard to the process of streamlining the production process, designing new products, or in the process of evaluating the prospective vs. the current customers (Levin, 2008). Statistics tend to provide confidence to the managers when they are dealing with the uncertainty in the field in spite having a lot of data that help the managers make a quick and smarter decision. Making the smarter decisions will go a long in helping the managers provide a more stable leadership to the staff members.Statistics is very important when it comes to the process of making connections. It is easy for th...