Explain major components of statistical methodology

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1. Discuss the differences among the three major components of statistical methodology (descriptive statistics, statistical inference, and predictive statistics). Why might these distinctions be important to a manager?

2. In 1995 Jack Welch sent a memo to his senior managers telling them that they would have to require every employee to have started Six Sigma training to be promoted. Furthermore, 40 percent of the manager's bonuses were to be tied to the successful introduction of Six Sigma. Do you believe that this directive was a motivational action, or did it violate W. Edwards Deming's maxim that managers and leaders must "cast out fear"? Why or why not?

Reference no: EM13727874

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