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Published on Aug 21, 2013
Costis Maglaras, David and Lyn Silfen Professor of Business, talks about his core course Managerial Statistics.
"If you think about uncertainty you realize it's essentially everywhere. When you introduce a new product to the market you don't exactly know what the demand for the product is going to be, how much people are going to be willing to pay. This course is about how to model uncertainty, how to quantify uncertainty, and then how to use it in a structured way in order to educate decisions."