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?

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?

MGT 445

1) Case 9-1 discusses Young Again Pharmaceuticals. The three options that this firm has to manage risk are risk retention, risk transfer, or a mixed approach. In 200 – 250 words, discuss your recommendations on how this company should evaluate and implement these techniques to manage risks

2) Given your answer to Discussion Forum 1, discuss in 200 – 250 words what you believe Young Again Pharmaceuticals should focus on once the risks are mitigated