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OKLAHOMA CITY UNIVERSITY MEINDERS SCHOOL OF BUSINESS ECON 2123 Summer 2009 COURSE: Business Statistics COURSE SCHEDULE: Online CLASS LOCATION: Online COURSE PREREQUISITE: College Algebra or Graduate Standing CURRICULUM REQUIREMENT: This course is a foundation course for MBA program. INSTRUCTOR: Dr. Mahmood Shandiz, Senior Associate Dean and Professor of Management Science. OFFICE LOCATION: Meinders School of Business Building, Room 325 F OFFICE PHONE: 405-208-5130 FAX NUMBER: 405-208-5098 Email: [email protected] Office Hours: By appointment. REQUIRED TEXTS: David M. Levine, Mark L. Berenson, and David Stephan, Timothy C. Krehbiel, Statistics for Managers Using Microsoft Excel, Prentice- Hall, Inc., 5th Edition, 2008. INTRODUCTION: Statistics are used for two primary purposes. The first of these is to summarize a large group or groups of numbers. The second purpose is to make specific guesses about the population based upon a sample drawn from that population. Obviously, if the sample is too small, we cannot say much about the population. However, with an adequate sample, we can say with good confidence that a particular thing is a characteristic in most of the population. COURSE DESCRIPTION: This course will provide the student with some of the basic, rudimentary tools used to organize, summarize, and present a large group or groups of numbers in a data set and to make inferences about the population that the data has been collected from. It will also show the student how to create hypotheses and test them. Statistical analysis can very quickly become mind-boggling. It is therefore essential that the student prepare adequately before class, and request clarification should the topics become too complex or vague for understanding. This course also examines a variety of techniques with focus on understanding the reasons the technique was chosen and what the results mean. This course will emphasize the use of computer. The use of spreadsheet will be integrated into all aspects of this course. Therefore, the focus of the course will be the application of the theories and formulas to a functional area of business by utilizing computer, getting the solutions and results, and the interpretation of results. COURSE OBJECTIVES: The main objective of this course is to prepare the students to analyze data using computer. The other objectives of the course are to provide students with hands-on, practical experience using microcomputers, discussing possible applications and to feature instruction in using today's most widely commercial applications software such as Spreadsheets. Therefore, this course is designed to assist the student in acquiring the knowledge and ability to put microcomputers to work. At the end of this course the student should be able to: collect and present statistical data identify and apply various statistical distributions in business formulate and solve problems based on probability theory sample, test the hypothesis, forecast, and manage real data sets solve statistical problems and interpret the results use spreadsheet software to solve statistical problems METHODS: During this course you will use your textbook extensively. You will take numerous quizzes on line, and you will take two tests. The course is designed for the students who are very motivated to study by themselves and who are very disciplined to meet deadlines for assignments and quizzes. Dates and times are based on Oklahoma City time zone (CT). COURSE REQUIREMENTS: The final course grade will be comprised of the following elements: Quizzes and Assignments 30% Midterm Examination 35% Final Examination 35% Two exams will be used to test your knowledge of the material presented in the course. The tests will be straightforward, covering reading assignments and quizzes. The tests consist of questions concerning the application of the statistical concepts. The final will be comprehensive. CHEATING AND PLAGIARISM POLICY: It is expected that all students will practice honesty in their work. Copying in part or in whole of another student's work is absolutely unacceptable. If you use someone else's ideas, they must be correctly cited. Plagiarism is grounds for failure and for dismissal from the university. GRADING SCALE: The following scale will be used to assign students’ grades: 92.50 -100.00=A 90.00 - 92.49=A87.50 - 89.99=B+ 82.50 - 87.49=B 80.00 - 82.49=B77.50 - 79.99=C+ 72.50 - 77.49=C 70.00 - 72.49=C67.50 - 69.99=D+ 62.50 - 67.49=D 60.00 - 62.49=DAny grade below 60 will be an F not an I or W. INCOMPLETE GRADE POLICY: Oklahoma City University's incomplete grade policy stated in the university bulletin is as follows: "Incomplete grades should only be given if extraordinary circumstances (beyond the student's control) occur that preclude students from completing the course. They should not be given to students who have not completed assignments because of their own propensity to procrastinate." MAKE-UP POLICY: If you miss an assignment, a quiz, or a test, there would be a zero credit for the portion of the course. There is no make-up for any portion of this course. This syllabus is considered to be a course contract between the student and the professor. Please examine the contents of this syllabus very carefully and ask questions if you have any problem with any part. I wish you a successful semester. Welcome to BSAD5043. DISCLAIMER: “If you need an accommodation due to disability under the Americans with Disabilities Act, please contact the Student Health and Disabilities Service Office immediately at 405-208-5991 or 208-5090. Advance notice is required for many accomationas.” COURSE SCHEDULE and OUTLINE and ASSIGNMENT DEADLINES This course schedule is organized around the time blocks needed to cover different statistical concepts: WEEK ONE- May 21, 2009 -In Class Chapter 1 Introduction and Data Collection Quiz # 1 Chapter 2 Presenting Data in Tables and Charts Quiz # 2 Week 1 Assignment WEEK TWO- May 28, 2009 -Online Chapter 3 Numerical Descriptive Measures Quiz # 3 Week 2 Assignment WEEK THREE- June 4, 2009 -In class Chapter 4 Basic Probability Quiz # 4 Chapter 5 Some Important Discrete Probability Distributions Quiz # 5 Week 3 Assignment WEEK FOUR- June 11, 2009 -Online Chapter 6 The Normal Distribution and Other Continuous Distributions Quiz # 6 Week 4 Assignment WEEK FIVE- June 18, 2009 –In class Chapter 7 Sampling and Sampling Distributions Quiz # 7 Week 5 Assignment WEEK SIX- June 25, 2009 –Online Chapter 8 Confidence Interval Estimation Quiz # 8 Week 6 Assignment WEEK SEVEN- July 2, 2009 –In Class Chapter 9 Fundamentals of Hypothesis Testing: One-Sample Tests Quiz # 9 Week 7 Assignment WEEK EIGHT- July 9, 2009 –Online or In Class As Needed Chapter 10 Two-Sample Tests with Numerical Data Quiz #10 Chapter 13 Simple Linear Regression Quiz # 11 Week 8 Assignment COURSE OUTLINE WEEK ONE Introduction and Data Collection Upon completion of this block , the student will be able to: 1. 2. 3. 4. To To To To understand how statistics is used in business identify sources of data distinguish between different survey sampling methods understand the different measurement scales WEEK ONE Presenting Data in Tables and Charts Upon completion of this block , the student will be able to: 1. 2. 3. 4. To To To To organize numerical data develop tables and charts for numerical data develop tables and charts for categorical data understand the principles of proper graphical presentation WEEK TWO Numerical descriptive Measuers Upon completion of this block , the student will be able to: 1. To describe the properties of central tendency, variation, and shape in numerical data 2. To construct and interpret a box-and-whisker plot 3. To calculate descriptive summary measures from a population 4. To calculate and interpret the coefficient of correlation WEEK THREE Bsaic Probability Upon completion of this block , the student will be able to: 1. To understand basic probability concepts 2. To understand conditional probability 3. To use Bayes’ theorem to revise probabilities WEEK THREE Some Important Discrete Probability Distributions Upon completion of this block, the student will be able to: 1. 2. 3. 4. To understand the properties of a probability distribution To compute the expected value and variance of a probability distribution To calculate the covariance and understand its use in finance To understand how to compute and be able to use the probabilities from binomial, hypergeometric, and Poisson distributions to solve business problems WEEK FOUR The Normal Distribution and Other Continuous Distributions Upon completion of this block, the students will be able to: 1. To compute probabilities from the normal distribution 2. To use the normal probability plot to determine whether a set of data is approximately normally distributed 3. To compute probabilities from the uniform distribution 4. To compute probabilities from the exponential distribution 5. To understand the concept of the sampling distribution 6. To compute probabilities related to the sample mean and the sample proportion 7. To understand the importance of the central limit theorem WEEK FIVE Sampling and Sampling Distributions Upon completion of this block, the students will be able to: 1. Develop the concept of a sampling distribution for both quantitative and qualitative data by utilizing the central limit theorem for normal and nonnormal populations. 2. Understand the concept of sampling error. WEEK SIX Confidence Interval Estimation Upon completion of this block, the student will be able to: 1. To develop confidence interval estimates for the mean and the proportion 2. To determine the sample size necessary to obtain a confidence interval estimate for the mean or proportion 3. To use confidence interval estimates in auditing WEEK SEVEN Fundamentals of Hypothesis Testing: One-Sample Tests Upon completion of this block, the student will be able to: 1. To understand the basic principles of hypothesis testing 2. To use hypothesis testing to test a mean or proportion 3. To evaluate the assumptions of each hypothesis-testing procedure, and know the consequences if the assumptions are seriously violated 4. To avoid the pitfalls involved in hypothesis testing 5. To understand the ethical issues that may be involved WEEK EIGHT Two-Sample Tests with Numerical Data Upon completion of this block, the student will be able to: 1. To use hypothesis testing for two independent groups 2. To use hypothesis testing for 3. To use hypothesis testing for 4. To use hypothesis testing for of two independent groups comparing the difference between the means of related samples testing the difference between two proportions comparing the difference between the variances WEEK EIGHT SIMPLE REGRESSION Upon completion of this block, the student will be able to: 1. Develop the simple linear regression and correlation model as a means of using one variable to predict another variable. 2. Measure the strength of association between these two variables. 3. Apply various inferential procedures to test the significance of the model. 4. Predict the value of a dependent variable. 5. Use the concept in time series analysis. 6. Use computer to forecast and examine variable relationships and interprethe printout.