Decision Making for Management
A Student Textbook for Data-Informed Managerial Judgement
Decision Making for Management
A Student Textbook for Data-Informed Managerial Judgement
About this textbook
Decision Making for Management teaches the statistics a manager uses in practice, and the judgement needed to act on them. It connects descriptive statistics, probability, decision tools, hypothesis testing, strategic analysis, ethical judgement, and reporting.
Every chapter opens on a decision question and closes on a recommendation a manager could act on. The statistics are the route between the two, and the decision is the destination.
Learning outcomes
By the end of this module you will be able to:
1 Identify variable types and use descriptive statistics to summarise a dataset for a decision.
2 Use JASP, PocketStat and Excel to prepare data, check assumptions, and produce clean output.
3 Apply probability, decision-process tools, and scheduling methods to compare options under uncertainty.
4 Select and interpret one-sample, two-sample, multi-group, association and regression tests.
5 Carry out introductory factor-modelling tasks and explain what the output means.
6 Write evidence-based managerial recommendations that state their own limitations.
Module architecture
Chapters 1-2 · Describing Evidence
Data and measurement scales · descriptive statistics · the normal model · z-scores
Chapters 3-5 · Deciding Under Uncertainty
Probability · decision trees · CPM and Gantt · one-sample and two-sample tests · ANOVA
Chapters 6-8 · Strategy and Judgement
Porter’s Five Forces · RBV and VRIO · ethical decision making
Chapters 9-11 · Association and Prediction
Correlation · chi-squared · simple linear regression
Chapters 12-15 · Measuring What Is Not Observed
Data preparation · exploratory and confirmatory factor analysis · SEM and PLS-SEM
Chapters 16-17 · Consolidation
Revision · choosing the right test · final examination
How the chapter is built
Each chapter is nine hours in three parts, and each has its own chapter here.
- The lecture, one hour, introduces the decision question and the concept.
- The tutorial, two hours, is where you run the analysis and write the result.
- Independent study, six hours, is reading, guided practice, your own analysis, and the checkpoint quiz.
Every part opens with its activities, their learning type and their timing, so you can see what the session asks of you before it starts.
Software
Both routes through this module are free, and one of them needs no installation at all. JASP is a free download. PocketStat runs in your browser with no installation, no account, and no upload of your data. Either is acceptable in any submission. The Software Guide explains what each covers, and names the two chapters that need JASP.