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MSC 287 – 03 Business Statistics I Course Information Instructor: Allen G. Renz Phone: 890-0200 E-Mail: [email protected] Fax: 830-6649 Office Hours: Tue & Thu 11:00 a.m. to 1:00 a.m., Room 346 , AS Bldg Meeting Time: Tue, Thu 8:00 – 9:20 a.m. Meeting Place: Room 106, AS Bldg Text: Modern Business Statistics with Microsoft Excel, 1st Edition Anderson, Sweeney and Williams, South-Western 2003 Calculator: You should have a scientific calculator with statistical functions builtin (look for Ln, Log, Exp, Mean and Standard Deviation) Computer: You will need to have access to a PC or laptop with Microsoft Excel Software. Course Description: Introduction to concepts of probability and statistical methodology. Grade Determination: Grades will be determined relative to the rest of the class and will be weighted as follows: Examination 1 Examination 2 Problem sets Attendance Final Exam Final Exam: 20% 20% 20% 5% 35% Tuesday, December 10, 8:00 – 10:30 a.m. MASTER COURSE SYLLABUS Time Frame: August 2002 Course Number: MSC 287 Course Title: Business Statistics 1 Instructor: Renz, Allen Textbook: Modern Business Statistics with Microsoft Excel, 1st edition Anderson, Sweeney and Williams, South-Western 2003 Course Description: Introduction to the concepts of probability and statistical Methodology. Topics include: tabular, graphical, and numerical methods for descriptive statistics; measures of central tendency and dispersion of data; introduction to probability and probability distributions; sampling and sampling distributions; introduction to confident intervals; and introduction to hypothesis testing. Prerequisites: MIS 146, MA 145, or equivalents Course Objectives: To provide an understanding and a working knowledge of: (1) the tools of descriptive statistics; (2) the basics of probability theory; (3) the theory and application of probability distributions used in business problem solving; (4) the normal distribution; (5) sampling distributions and their relationship to statistical inference; and to provide computer-based problem solving experience using Microsoft Excel spread sheets. Technology: This course utilizes the latest student-friendly technology to support learning. A working knowledge of Microsoft Excel and availability of the software is required. MASTER COURSE SYLLABUS MSC 287 AUGUST 2002 (based on 28 80-minute sessions) Subject covered: Sessions (approximate) 1. Introduction 2.0 Background and Vocabulary; Applications in Business and Economics; Data Sources and Data Handling; Using Excel for Statistical Analysis. 2. Descriptive Statistics – Tabular and Graphical Methods Frequency Distributions, Charts and Graphs. 2.0 3. Descriptive Statistics: Numerical Methods Measures of Location: Mean, Median, Mode, Percentiles; Measures of Dispersion: Range, Variance, Standard Deviation; Uses of the Mean and Standard Deviation: Z-scores, Chebyshev’s Theorem, Empirical Rule; Measures of Association Between Two Variables: Covariance and Correlation. 3.0 4. Introduction to Probability Vocabulary and the Sample Space; Methods of Assigning Probabilities; Events and Their Probabilities; Probability Relationships; Conditional Probability; Bayes’ Theorem 4.5 5. Discrete Probability Distributions Random Variables: Discrete and Continuous; Expected Value and Variance; Discrete Probability Distributions: Binomial, Poisson and Hypergeometric. 3.5 6. Continuous Probability Distributions Probability Distributions: Uniform; Normal; Exponential. 4.5 7. Sampling and Sampling Distributions _ Simple Random Sampling; Sampling Distribution of X; Central Limit Theorem; Sampling Distribution of p bar; Other Distributions 2.5 8. Interval Estimation and Hypothesis Testing Interval Estimation of a Population Mean: Large and Small Sample cases; Interval Estimation of Population Proportion; Determining Sample Sizes; Null and Alternative Hypotheses; Type I and Type II Errors; Tests About A Population Mean: One and Two-Tail Tests. 4.0 9. Examinations and Reviews 2.0