| CODE | MGT5915 | ||||||||
| TITLE | Statistical Mis/conceptions in Decision-making Processes | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Business and Enterprise Management | ||||||||
| DESCRIPTION | This is a core study-unit in the Certificate on Evidence-based Management. Managers use and consult research-driven documents in their everyday duties. Economic trend projections, Market research reports and socio-economic surveys are expected to rely on sound statistical foundations and it is imperative for managers to decipher between sound statistical practices from thwarted ones. This study-unit is intended to equip students with necessary statistical tools, techniques and knowledge sustained with careful practice and sound rationale to enable 'good' evidence-based decision making. It will bring to light mainstream statistical misconceptions that hinder meaningful learning and impede 'good' decision making. This study unit will cover the following topics: - The role of statistics in business decision making - The sort of statistical questions that can be asked - How statistical questions are investigated (the stages of a statistical investigation) - Statistical tools and techniques for summarising, comparing and inter-relating data - Evidence of mainstream statistical misconceptions - Why misconceptions are dangerous - Overcoming misconceptions using interactive Java applets - Identifying faulty thinking in research and business reports. Study-unit Aims: The aims of this study-unit are four: - To distinguish between 'good' thinking and 'faulty' thinking; - To undertake statistical practices that are sustained by careful practice and justification; - To evaluate effectively the rigorousness of research documents and reports; - To appreciate statistics as a tool that adds value to business decision-making. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - comprehend the role of statistics in business decision making; - engage and debate a number of statistical ideas; - comprehend which statistical techniques are appropriate in various circumstances in order to make sensible conclusions that enable good decision making; - become aware of mainstream statistical misconceptions and their impact on business decisions. 2. Skills: By the end of the study-unit the student will be able to: - apply the stages of a statistical investigation (posing the right question, collecting relevant data, analysing the data, interpreting/communicating the results); - use appropriate statistical techniques when describing, comparing or interrelating justified by sound rationale and justification; - demonstrate an understanding of the principles of what s/he is doing and to be able to spot other people's statistical flaws (jiggery pokery) and faulty thinking when s/he comes across it. Main Text/s and any supplementary readings: Recommended texts: Graham, A. (2006): Developing Thinking in Statistics. Sage/Open University. Huck, S. W. (2009). Statistical misconceptions. Psychology Press. Supplementary texts: Good, P.I. & Hardin, J.W. (2012) Common Errors in Statistics (and how to avoid them). Wiley. Lance, C.E. & Vandenberg R.J. (2009) Statistical and Methodological Myths and Urban Legends: Doctrine, Verity and Fable in he Organisational and Social Sciences. Routledge. Lance, C.E. & Vandenberg R.J. (2015) More Statistical and Methodological Myths and Urban Legends: Doctrine, Verity and Fable in he Organisational and Social Sciences. Taylor & Francis. van Belle, G. (2008) Statistical Rules of Thumb (2nd Ed.) Wiley Students will be also provided with a pack of selected papers during the beginning of the programme. |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Frank H. Bezzina |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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