Statistics and Data Study Aids for the MBA
By Antoine Marchand · Last reviewed
These are study aids, not substitutes for the books. For the books themselves, see the data and decision-making reading list.
The quick references
Statistics Equations & Answers (QuickStudy guide)
Laminated quick reference · $
Beats the book when: You need the right test or distribution formula fast and your school maths has faded.
Pairs with: Naked Statistics, How to Measure Anything
Schaum's Outline of Statistics
Solved-problem outline · $$
Beats the book when: You have the intuition from Naked Statistics but cannot yet run a hypothesis test or regression by hand.
Pairs with: Naked Statistics
Microeconomics (QuickStudy guide)
Laminated quick reference · $
Beats the book when: A decision case turns on marginal cost, opportunity cost or elasticity and you need the definition in seconds.
Pairs with: Naked Economics, Managerial Economics and Business Strategy
When a quick reference beats the book
The data and decision-making course is where many executives feel the gap between their degree and their job. You may use dashboards every day, but the last time you computed a standard error by hand was a long time ago.
A laminated statistics guide fixes the most common panic: which test, which distribution, which formula. It will not explain why a confidence interval means what it means, but if you understood that once, a reminder is usually enough to get you moving.
A solved-problem outline is for the student who understands the ideas but cannot yet do the calculations at exam speed. Naked Statistics gives you the intuition; worked problems give you the method. Check the outline covers regression at the level your course expects.
I have added the economics card because decision cases in this course often turn on marginal and opportunity cost rather than statistics. Skip it if your syllabus is purely statistical. For the books worth reading properly, see the data and decision-making hub.
How to use these in the last week before an exam
Start with a one-page decision tree you write yourself: given this kind of data and this question, which test do I use. Check it against the quick reference. If you can build that tree, you can handle most exam questions.
Spend the middle of the week on problems. Do the regression and hypothesis-testing questions first; they usually take the most practice. Use the outline for extra questions on whichever topic you get wrong most often.
In the last two days, practice interpreting output, not computing it. Take a regression table from your course materials and write two sentences on what it means for a decision. That is what the exam and your future board deck both ask for.
Questions people ask
What is the best MBA statistics study guide?
For worked problems, a solved-problem outline. For a fast reminder of which test or formula to use, a laminated statistics guide. Most students under time pressure need the second more than they think.
Do I need a statistics study aid if the course uses software?
Usually yes. Software runs the test, but exams and case write-ups still ask you to choose the right test and interpret the output. A quick reference helps with both.
Why is an economics guide on a data page?
Decision-making courses borrow heavily from economics: marginal analysis, opportunity cost and expected value. If your course does, the economics card is a useful second reference.