Statistical Thinking Notes: Definitions & Explanations PDF | Download eBooks

Study Statistical Thinking lecture notes PDF with total quality management definitions and explanation to study “What is Statistical Thinking?”. Study statistical thinking explanation with TQM terms to review total quality management course for online MBA programs.

Statistical Thinking Notes:

Decisions can be made based on two thing, intuition and data. Normally, management makes decisions based on its gut feelings when it comes to general situations. However, there are some specific situations where data is required to be analyzed for decision making. Also, decisions based on intuition can sometimes be biased. When statistical data is used to make decisions, the process is called statistical thinking. Three concepts are involved in the process of statistical thinking. The first one assumes that there is a series of interconnected processes involved in any work/system. The second concept shows that there is always some variation in the processes. The third concept refers to the fact that variations must be reduced.

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