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Application: Operations Research

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Pace University Adopts StatTools and the DecisionTools Suite

When Pace University’s Lubin School of Business decided to combine their MBA level Statistics and Operations Research courses, they needed a new textbook and new software. For the book they chose Data Analysis and Decision Making with Microsoft Excel from Duxbury Press (an imprint of Thomson Brooks/Cole). For software they selected StatTools and the DecisionTools Suite by Palisade Corporation.

According to Dr. Jack Yurkiewicz, Professor of Management Science at Lubin, the selection was easy. He says, “We standardized on Microsoft Excel as our analysis platform for all MBA courses, so we wanted a statistical analysis package that worked in Excel. StatTools fits the bill and provides robust and accurate analysis.”

The new combined course provides a foundation for business analysis and decision making. It starts by introducing students to statistics and their role in business decision making. From there it moves on to decision modeling and simulation with applications in finance, production, and marketing.

Textbook and Software in One Package
As a bonus, Data Analysis and Decision Making with Microsoft Excel comes with a special student edition of StatTools and the DecisionTools Suite. So students get a two-year license of the software for free when they purchase a new textbook. School administrators are very pleased with the convenience and cost effectiveness. According to Dr Yurkiewicz, “My students are delighted with StatTools, they find it easy to learn and easy to use.”

StatTools is Palisade’s statistical analysis add-in for Microsoft Excel. StatTools replaces Excel’s statistics functions with 36 robust and accurate statistical procedures and 5 built-in data utilities. StatTools capabilities include descriptive statistics, normality tests, group comparisons, correlation, regression analysis, quality control, forecasts and more.

The Lubin School on the Rise
Lubin’s part-time MBA program ranks 17th nationwide in the US News & World Reports “America’s Best Graduate Schools 2006," moving up from 19th in 2005. Additionally, Pace’s Lubin School has been ranked as one of the Top 100 Entrepreneurial Colleges in Entrepreneur magazine for all years of the survey.

» StatTools
» Pace University Lubin School of Business
» Duxbury Press

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