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Statistics

Have not been posting for almost a month. Now I am kind of have been missing blogging and ready to post some updates. The two main reasons for my extended silence are the preparation for the professional certification exam that I took in two weeks after the end of the summer module, and the family vacation trip to Barbados. I hope I will have motivation and energy to put some posts with pictures and videos or may be a separate website dedicated to this vacation, as it was really quite interesting and a lot of fun to share.

But first I need to put closure to my first year of part-time MBA program at GWU. As I was writing in my last post in June  I was not expecting any surprises with the grades, but I actually was nicely surprised. Based on my grades for intermediate assignments throughout both classes I had in the module I was expecting an A in Business and Public Policy, but the Nature of Markets was a bit murkier. Nevertheless I got A’s in both classes!  For the first time in my MBA terms I became a straight A student ;-) . Admittedly, I had only two classes in the term, and they both were not quantitative courses. But still it feels really nice. So I got my closure for the first year.


Now that I had my vacation I almost feel like I would be ready to continue with the MBA classes right away. But there are no classes I could sign up for right now. So I have another month to chill out. I am planning to use this time to do some reading to prepare for the fall term and just to read some of the books I had to put on hold during the year, my personal MBA summer reading list: Superfreakonomics by Levitt and Dubner, The Tipping Point by Gladwell, and surprise-surprise! – Basic Statistics: Tales of Distributions (with CD-ROM) by Spatz.

Even though I got my B and B+ in two statistics courses during the first year, I know I need to get a better grasp of the subject and solidify everything I learned in a hurry. I stumbled upon this book while looking for an easier introduction to statistics. I wrote about this briefly in my April 5 post . Eventually I found Basic Statistics: Tales of Distributions (with CD-ROM)
and I really look forward to pouring over it in the next month. I will write a more detailed review once I finish it. But from other reviews on Amazon.com and my reading through the first 30 or so pages, I can tell that this is the must book for all of us who have stats anxiety. If you are preparing for MBA stats classes in advance or even take them at the time you read this post, I recommend to grab this book and start reading it ASAP. Statistics is not an easy subject for most students, but this book will make your experience with the stats as painless as humanly possible. I bought the eighth edition of this book used from Amazon for some really funny money, about $6. For the purists, like I used to be, but not anymore, there is the tenth editionn of Basic Statistics: Tales of Distributions available new between  $129-150 on Amazon.com.

Enough blogging for the day. Hopeful to continue posting regularly in the time before the second year of my MBA studies starts.

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Nothing too exciting happenned at the exam. The format was open book, open notes. Needless to say that even with this format I felt a brain-freeze, as oftentimes the case in my quantitative classes. Will see how I fared on the forced grading curve. The stuff covered in the exam was all the material we have studied so far in the class: sampling distribution, confidence interval, hypothesis testing. All the stuff that makes people excited, myself including :-) I wish I also had a better grasp on it.

Speaking of the better grasp. Earlier in the module I asked professor if he could recommend some other book which could be used to better understand the concepts we learn in the course and their application. Surprizingly, professor admitted he was not specifically excited about the textbook we were using, but it had been the department’s choice, not his. So he recommended another book.

I earnestly hoped it would be some other kind of book, not another graduate level statistics textbook, which I already had. I hoped for something a bit more on a layman, or at least undergraduate level. I thought, he might wholeheartedly endorse something from Complete Idiot’s Guide to… series, or from the … for Dummies collection. A-hem. Apparently he does not read this kind of books, at least not on statistics.

So he recommended me a book. I was so desperate about my struggles with statistics that I ordered it right away on Amazon. When it arrived soon after and, I opened the package… it was yet another textbook on statistics at graduate level :-( . I admit, it has a huge advantage, about 30% advantage to be more precise: it has only about 800 pages vs almost 1100 pages in our required textbook for this statistics course. I actually read side by side a few definitions from both books, just to see if it is really better/easier explained in my new acquisition. I can not tell. I think that some stuff is explained a bit clearer in one, whereas other explanations are a bit more conceivable in the other book. On the right, by the way, is the new book I am talking about.

Now I have two textbooks on statistics. What I don’t have is the time to read them both. So I will use them for cross-reference in especially  difficult cases. And for straight reading I would stick with the new one, even if for the sake of its “brevity” :).


I will even throw in for free this business idea for left-brainers with entrepreneurial inclinations (even though we all know it’s usually not going together. You are either entrepreneur or a left-brainer. Just kidding): how about creating a series of cartoon/comics level books on all quantitative core MBA courses? Come to think of it, why not to have cartoon/comics books on all qualitative MBA classes for those struggling left-brainers too :-) . Forget Complete Idiots’ and Dummies series – too complicated. We need comics! :-0

And staying true to my MBA credo, I rescind that free offer. I will take a few copies of each book for personal use as a small token of appreciation for this great idea.

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