Statistical Decision Making for Hospitality Managers
Course ID: HAME516 Predict future behavior from existing data. Make effective decisions by using statistical tools, identifying significant trends, and analyzing organizational data. |
Description
Do your company’s sales correlate with the age or income level of the buyer? How might the answer affect your marketing and promotion plan and budget? In this course you’ll explore several hospitality scenarios that will help you answer these questions and prepare you to make informed decisions based on statistical analysis.
Being able to observe and define meaningful and statistically significant trends in your organization’s data will help you to make more effective decisions. Being able to distinguish significant from insignificant data is especially important.
You will learn about correlation, regression, and probability—concepts that help you anticipate future behavior based on existing data. Hands-on activities and labs go further to reinforce key concepts and put theory into practice, ultimately preparing you to make smart, statistics-based decisions at your workplace.
Who Should Enroll in This Course?
This course instructs managers and individuals to analyze statistical data for their organization—especially those responsible for project and business planning, market research, revenue management, or designing customer or employee satisfaction surveys.
This course is the second in the two-course "Statistical Decision Making" program. eCornell strongly suggests that students complete the first course in this program, "Data Gathering and Analysis in the Hospitality Industry," prior to enrolling in this course.
We also recommend this course to those who have completed or plan to complete eCornell courses in scenario planning, hospitality marketing, and restaurant revenue management.
Enrollment
To register, contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.
March 21, 2012
April 18, 2012
Click 'Enroll Now' to see available dates beyond April 18, 2012.
Certificate Information
This course can be applied toward the following certificates:- Hospitality Marketing
- Master Certificate in Hospitality Management
- Master Certificate in Hospitality Management
Additional Information
Course Format
eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced and are facilitated by an eCornell instructor who leads the online discussions and is available to answer any questions about the course content. This course includes the following modules:
Relating Data - Correlation and Regression
- Correlation.
- Regression.
Using Data - Probability and Significance
- Calculating Probability.
- Determining Significance.
This course is the second in the two-course "Statistical Decision Making" program. eCornell strongly suggests that students complete the first course in this program, "Data Gathering and Analysis in the Hospitality Industry," prior to enrolling in this course.
Benefits to the Learner
After completing this course, participants will be able to:
- Calculate and define correlation and regression.
- Calculate the probability of a given event occurring.
- Determine if the results of a data analysis are statistically significant.
Authoring Faculty
Sheryl E. Kimes, Ph.D., ProfessorSponsoring School
Cornell University's School of Hotel AdministrationTotal Learning Time
Approximately 5-6 hours over a period of 2 weeks.You May Be Interested In...
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