Download 510.301 - Johns Hopkins Carey Business School

Statistics for Business Decision Making
3 Credits
BU.510.301.xx
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Required Text and Learning Materials
Statistical Techniques in Business and Economics, 10 th edition
Robert D. Mason, Douglas A. Lind, William G. Marchal, ISBN 0-07303935-7
(Please note: the latest edition of the textbook will be adopted if there is one available. Please check out
our online bookstore for most updated textbook information http://bookstore.mbsdirect.net/jhu-carey.htm.
As of 12/19/2011, the latest version is 15th edition. ISBN: 978007871154)
Blackboard Site
A Blackboard course site is set up for this course. Each student is expected to check the site throughout
the semester as Blackboard will be the primary venue for outside classroom communications between the
instructors and the students. Students can access the course site at https://blackboard.jhu.edu. Support
for Blackboard is available at 1-866-669-6138.
Course Evaluation
As a research and learning community, the Carey Business School is committed to continuous
improvement. The faculty strongly encourages students to provide complete and honest feedback for this
course. Please take this activity seriously because we depend on your feedback to help us improve so
you and your colleagues will benefit. Information on how to complete the evaluation will be provided
towards the end of the course.
Disability Services
Johns Hopkins University and the Carey Business School are committed to making all academic
programs, support services, and facilities accessible. To determine eligibility for accommodations, please
contact the Carey Disability Services Office at time of admission and allow at least four weeks prior to the
beginning of the first class meeting. Students should contact Rachel Hall in the Disability Services office
by phone at 410-234-9243, by fax at 443-529-1552, or email: [email protected].
Important Academic Policies and Services
 Honor Code
 Statement of Diversity and Inclusion
 Tutoring
 Carey Writing Center
 Inclement Weather Policy
BU.510.301.xx – Statistics for Business Decision Making –Instructor’s Name- Page 2 of 3
Students are strongly encouraged to consult the Johns Hopkins Carey Business School Student
Handbook and Academic Catalog and the School website http://carey.jhu.edu/syllabus_policies for
detailed information regarding the above items.
Course Description:
Students learn statistical techniques for further study in business, economics, and finance. The course
covers descriptive statistics, probability, discrete and continuous random variables, hypothesis testing,
and analysis of variance. The course emphasizes statistics to solve management problems. Case
studies, spreadsheets, and computer software are used. Some of the software applications will not run on
Apple computers.
Course Overview:
Most business decisions have two things in common:
1. They are made on the basis of insufficient information, and
2. The “Correct” decision does not always deliver the desired result.
Business statistics is a tool to help us deal with this uncertain environment. A good example is a decision
made by Pfizer, Inc. in December of 2006 in which the company abandoned a clinical trial of an
experimental cholesterol drug. This decision cost them over $1 billion in cash spent on development
costs, and $21 billion in stock-market value. The decision was driven by the fact that of the 15,000
people participating in the trial, 82 people taking the experimental drug died while 51 people in a control
group died. In this course we will develop the tools to understand the reasoning behind decisions like this.
Student Learning Objectives for This Course
All Carey graduates are expected to demonstrate competence on four Learning Goals,
operationalized in eight Learning Objectives. These learning goals and objectives are supported
by the courses Carey offers. For a complete list of Carey learning goals and objectives, please
refer to the website http://carey.jhu.edu/LearningAtCarey/LGO/index.html.
The learning objectives for this course are:
1. You should be able to organize & present quantitative data such that trends and conclusions are
suggested.
2. You should be able to infer some characteristics of a population by examining a portion of the
population.
3. You should be able to compare characteristics of different populations.
4. You should be able to make informed decisions in a probabilistic business environment.
5. You should be able to think critically with respect to quantitative information.
Attendance Policy
There will be regularly scheduled class sessions. Attendance in not mandatory, but missed classes will
leave significant gaps in your knowledge. Students are encouraged to attend every class.
Assignments
The four case studies are due no later than two weeks after they are assigned. The student will apply
statistical techniques, and interpret the results. Software will be used to solve these case studies.
Evaluation
Statistics
Six in-class quizzes (each 10%)
Final in-class exam
60%
40%
BU.510.301.xx – Statistics for Business Decision Making –Instructor’s Name- Page 3 of 3
Important notes about grading policy:
The grade for good performance in a course will be a B+/B. The grade of A- will only be awarded for
excellent performance. The grade of A will be reserved for those who demonstrate extraordinarily
excellent performance. *The grades of D+, D, and D- are not awarded at the graduate level. Grade
appeals will ONLY be considered in the case of a documented clerical error.
Course Calendar
Dates
Chapter
Subject
Chapter 1
What is Statistics?
Chapter 2
Describing Data Sets
Chapter 3
Describing Data: Measures of Location
Chapter 4
Displaying and Exploring Data
Chapter 5
Chapter 6
Survey of Probability Concepts
Discrete Probability Distributions
Chapter 7
Continuous Probability Distributions
Chapter 8
Sampling Methods & Sampling Distributions
Chapter 9
Estimations and Confidence Intervals
Chapter 10
One Sample Test Hypothesis
Chapter 12
Analysis of Variance
Chapter 13
Chapter 14
Correlation and Linear Regression
Multiple Regression Analysis
Chapter 15
Nonparametric Methods: Goodness-of-Fit
Final Exam
Copyright Statement
Unless explicitly allowed by the instructor, course materials, class discussions, and examinations are
created for and expected to be used by class participants only. The recording and rebroadcasting of such
material, by any means, is forbidden. Violations are subject to sanctions under the Honor Code.