Legal Commentary

Business Statistics

By davidwanetick

There was an interesting article in The Wall Street Journal discussing people's proclivity to commit certain actions based on their names or initials. For instance, some studies have suggested that people with an "A" or "B" in their initials get better grades than those with the initials "C" and "D".

Many of these studies have very tenuous statistical underpinnings.

It is very important that business professionals understand basic statistics since your competitors, suppliers, and clients regularly use numbers to persuade you to adopt their agendas. Your ability to decipher the integrity of the numbers presented to you and the ability to detect lies masquerading as statistics will improve your decision making.

Understanding how to employ probabilistic reasoning in the quantification of risk allows the professional to better appraise and evaluate the cost-benefit of virtually all business and financial decisions. This course will help you base your decisions on firmly-grounded probability rather than wishful thinking.

These are some of the issues that will be discussed at The Business Development Academy's courses on Business Statistics and Statistics for Lawyers. More information about these programs is available at:
www.bdacademy.com.

Full post as published by Vertical Pulse on December 10, 2007 (boomark / email).