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h INSTITUTE OF TECHNOLOGY & ADVANCED LEARNING LIBERAL ARTS AND SCIENCES DIVISION COURSE OUTLINE ACADEMIC YEAR 2006-2007 It is the student’s responsibility to retain course outlines for possible future use in support of credit applications or transfer to other educational institutions. A service fee will be charged for a replacement copy. COURSE NAME Business Statistics COURSE NUMBER BSTA 300 (Day & Evening, North & Lakeshore) CREDIT VALUE 3 TEXTBOOK Triola, Goodman, Law. Elementary Statistics. 2nd Canadian Edition PREREQUISITE BMAT 210 or BMAT 220 FACULTY NAME _____________________________________ OFFICE PHONE: 416-675-6622 EXT._________ OFFICE HOURS: By appointment MATHEMATICS COORDINATOR Mohammad Hussain OFFICE K201 APPROVED BY Crystal Bradley, Associate Dean June 2006 Date COURSE DESCRIPTION This course covers modern descriptive and inferential statistics. The course deals with the application of formulas, techniques and computer use. Emphasis will be on the recording, presentation and analysis of data, forecasting and decision-making. INSTRUCTIONAL GOALS Students will become familiar with statistical techniques that will enhance their studies in their business program. They will learn the statistics essential for applications in decision making, measuring and sampling in the world of Business, Manufacturing and Finance. This course will also give students a solid foundation for more advanced statistical studies. LEARNING OUTCOMES After completing this course the student will be able to 1. Define the term statistics and be able to distinguish between descriptive statistics and inferential statistics. 2. Define the following terms: quantitative data, qualitative data, discrete data, continuous data. 3. Distinguish between the levels of measurement and different sampling methods. 4. Explain some uses and abuses of statistics. 5. Summarize data by constructing frequency distributions, frequency histograms, bar charts, pie charts and line graphs. 6. Calculate the following measures of central tendency: the mean, the median, the mode, the midrange and the weighted mean from ungrouped data and be able to understand the significance of these measures. Calculators and/or computer software such as Excel may be used. 7. Calculate the following measures of variation: range, the standard deviation and the variance from ungrouped data using calculators and/or computer software such as Excel. Be able to understand the significance of these measures. 8. Calculate percentiles from ungrouped data and understand their significance. 9. Calculate an estimate of the mean, the median and the standard deviation from grouped data. 10. Distinguish between symmetrical distributions and skewed distributions. 11. Construct a Scatter Diagram and perform a simple linear regression analysis. 12. Calculate the equation of a linear regression line using the method of least squares. 13. Calculate the coefficient of determination and the coefficient of correlation. Be able to explain the meaning of these two coefficients and determine the strength of a linear relationship. 14. Use the regression equation for prediction of the independent variable. 15. Define probability. 16. Demonstrate an understanding of the following probability terms: event, experiment, random variable, simple and compound events, mutually exclusive events, dependent and independent events. 2 LEARNING OUTCOMES 17. Use probability tools such as Venn diagrams and probability trees. 18. Use the appropriate rules of counting to establish sample space size. 19. Solve probability problems involving the addition rules, the multiplication rules and the conditional rule. 20. Demonstrate an understanding of the Binomial experiment. 21. Calculate Binomial probability. 22. Demonstrate an understanding of the characteristics of a uniform distribution and the standard normal distribution. 23. Calculate 'z' values and probabilities associated with normal distributions. 24. Develop an understanding of the sampling distribution of sample means. 25. Calculate the standard error of estimate. 26. Demonstrate the use of the Central Limit Theorem. 27. Construct confidence intervals for the population mean using large samples. 28. Construct confidence intervals for the population proportion using large samples. 29. Demonstrate an understanding of the student t distribution and know when to use it. 30. Construct confidence intervals for the population mean using small samples. 31. Construct confidence intervals for the population proportion using small samples. 32. Determine the sample size for use in the estimation of a population mean. 33. Identify the null and alternative hypothesis for a given statement or opinion. 34. Define type I and type II errors in an hypothesis test. 35. Perform a two-tailed hypothesis test for the stated population mean and proportion. 36. Perform a one-tailed hypothesis test on population mean and proportion. 37. Use popular spreadsheet programs such as Excel, Quattro Pro, or other computerized statistical programs to analyse and display large amounts of data. 3 GENERIC EMPLOYABILITY OUTCOMES Generic/Employability Skills are broad-based, transferable skills which provide the foundation for specific program skills essential to a student’s academic and vocational success. The Generic/Employability Skills are comprised of communications, personal, interpersonal, thinking, mathematics, and computer applications skills. Through the successful completion of this course, the student will develop the following specific generic skills: Students are required to apply critical thinking skills in order to solve word problems in business courses. Students learn to identify the premises and assumptions underlying statistical business word problems presented in this course. Students learn the analysis of data provided by the professor. Students learn to organize data using tables, diagrams, graphs and related computer software. COURSE CONTENT OUTLINE WEEKS 1-5 TOPIC CHAPTERS INTRODUCTION TO STATISTICS 1 Definition of - statistics, population, census, sample. Nature of Data - quantitative, qualitative, discrete, continuous, level of measurement, sampling methods. Uses and abuses of statistics. Using calculators and computers for statistics. DESCRIBING, EXPLORING AND COMPARING DATA Meaning of Descriptive Statistics and Inferential Statistics. Summarizing data using tables, charts and graphs. Constructing frequency distributions, relative frequency distributions and percentage distributions. 4 2.1, 2.2, 2.3 COURSE CONTENT OUTLINE WEEKS TOPIC 1-5 MEASURES OF CENTRAL TENDENCY CHAPTERS 2.4 Calculation of the arithmetic mean, median, mode, midrange and weighted mean for ungrouped data. Calculation of the mean and median for grouped data. Characteristics of each measure of central tendency. Symmetry and skewness. MEASURES OF VARIATION 2.5, 2.6 Calculation of the range, standard deviation, variance and percentiles from ungrouped data. Calculation of the standard deviation and variance from grouped data. Significance of percentiles and of the standard deviation. SIMPLE LINEAR REGRESSION & CORRELATION Scatter diagrams; calculation of the equation of a regression line by the method of least squares; coefficient of determination and coefficient of correlation. TEST # 1 5 9.1, 9.2, 9.3, 9.4 COURSE CONTENT OUTLINE WEEKS 6 - 10 TOPIC CHAPTERS PROBABILITY The meaning of probability, random sample, experiment, event, sample space, union of events, intersection of events, complementary events, Venn diagrams, probability trees, mutually exclusive events, independent and dependent events. Probability calculations using the addition rules, multiplication Rules, the conditional rule and rules of counting. Binomial Probability Distribution, Properties of the Binomial Experiment and Binomial probability calculations. 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 4.3 TEST # 2 11 - 15 NORMAL PROBABILITY DISTRIBUTIONS Uniform distributions, probability density curve, the standard normal distribution. Calculations involving the standard normal distribution. Calculations of 'z' values and probabilities associated with normal distributions. Sampling distribution of sample means, Central Limit Theorem, the standard error of the mean, finite and infinite populations. 6 5.1, 5.2, 5.3 5.4, 5.5 11 - 15 ESTIMATING POPULATION MEANS AND POPULATION PROPORTION AND SAMPLE SIZES 6.1, 6.2, 6.3 Point estimates, confidence levels, confidence intervals, level of significance, the student distribution. Constructing confidence intervals for the population mean and proportions using large and small samples. Determining the sample size. HYPOTHESIS TESTING Fundamentals of hypothesis testing, type I and type II errors. Hypothesis Testing on means. Hypothesis Testing on Proportion. Conducting two tailed and one tail hypothesis tests. TEST # 3 7 7.1, 7.2, 7.3, 7.4 REQUIRED TEXT(S) AND OTHER LEARNING MATERIALS TEXTBOOK Triola, Goodman, Law. Elementary Statistics. Custom Edition Pearson Education Canada Inc., 2001. ISBN 05-36270503. REQUIRED CALCULATOR Texas Instruments - BA II Plus ATTENDANCE REQUIREMENTS Students are expected to attend classes on a regular basis and complete all assigned homework. In this course, an integral part of the learning process occurs in the classroom through instruction, demonstration of sample problems, asking questions, and practising solving problems. Students who miss a class will find it difficult to understand and apply the material covered. Students who miss classes on a regular basis are at risk to fail this course and may have to repeat the course in the following semester. METHOD OF STUDENT EVALUATION Classes will take the form of lectures with problems relating to current business problems. There will be three tests and one assignment with the following grade distribution. Tests will consist of a variety of evaluation techniques. 30% of the evaluation will be based upon multiple choice or similar type questions and 70% of the evaluation will be based upon detailed evaluation. It is recommended that students retain all returned graded material to the end of the semester. Test 1 Test 2 Test 3 Assignment - 30% 30% 30% 10% ______ Total 100% * NOTE * On test and assignments, statistical calculators are allowed in computations. However, solution steps must be shown in order to receive full marks for the question. Part marks are given at the discretion of the instructor if the correct steps are clearly shown even though the answer may be incorrect. It is the student's responsibility to notify the instructor that he/she will miss a test for justifiable reasons. Students will be required to provide supporting documentation justifying the reason for missing the test. Failure to notify the instructor prior to the test forfeits the option of writing a missed test. Failure to write a test will result in a zero mark for that test. 8 CHEATING POLICY Any student caught cheating on a quiz, test, or examination will automatically receive a grade of 0% and be required to meet with the Instructor before being allowed to continue with the course. On the second offence, the student will be removed from the class and be required to meet with the Associate Dean and may be withdrawn from the course. Please note that sharing or borrowing calculators during quizzes and tests will not be permitted. SUPPLEMENTAL EXAMINATIONS There are no supplemental exams in courses offered by the Liberal Arts and Sciences Division. OTHER LEARNING RESOURCES AVAILABLE MATH CENTRE: Tutoring and assistance are available in the Math Centre North Campus Lakeshore Campus The Math Centre is located in the Guelph/Humber Building on the Second Floor (Room GH203). The math assistance is available in Room F201 Peer tutoring is available through the Counselling Office. North Campus -Room D128 Lakeshore Campus - Room A120 TEST CENTRE: North Campus Lakeshore Campus Located in Room D 255 Located in Room E112 9 ACADEMIC POLICIES I. STANDARDS The style of all your written work should be clear and concise. The characteristics of such a style are as follows: 1. grammatical correctness 2. appropriate vocabulary 3. clear sentences 4. logical organization II. PLAGIARISM AND CHEATING Plagiarism is the act of submitting as one’s own, material that is in whole, or in substantial part, someone else’s work. Students are expected to acknowledge the sources of ideas and expressions they use in essays, reports, assignments, etc. Failure to do so constitutes plagiarism and is punishable by academic penalty. Cheating, by obtaining answers to exam and test questions through unauthorized means (from another student, from hidden notes, etc.), is also an academic offence and is punishable by academic penalty. An academic penalty begins with the assignment of a grade of zero (0) in such situations and can be extended up to and including suspension from a program/course and expulsion from Humber. III. DROPPING A COURSE It is the responsibility of students who wish to drop this course to notify the teacher and the Office of the Registrar. Information regarding dropping a course is available in the Registrar’s Office, the divisional offices, the Continuing Education Calendar, and is outlined on the reverse side of the Continuing Education “Admit to Class” forms. IV. STUDENT FILES/APPEAL PROCEDURES Informal When students disagree with a final grade or any academic decision pertaining to this course, they should discuss the matter with the faculty member in an attempt to resolve the disagreement. If the matter is not resolved, students should discuss the problem with the Coordinator. If the matter is still not resolved, the next person to contact is the Associate Dean. Math & Science Coordinator: Mohammad Hussain Office K201 Phone x 4380 Math/LBS/OBS/G.A.S. Associate Dean: Crystal Bradley Office K201 Phone x 4606 It is your responsibility to keep copies of all your work in the course. 10 Formal If the student is still not satisfied with the result of the informal appeal, a formal Appeal in writing may be initiated to the Registrar. Such documentation must be completed within six (6) weeks from the end of the course. Full details on the Appeal procedures are available in the Registrar’s Office. The outcome of the Appeal will be officially communicated to the student who launches the Appeal and all other parties involved in the formal Appeal Process. V. STUDENTS WITH DISABILITIES Students who require assistance in note-taking or accommodation in tests should advise the Students with Disabilities Office, as well as their teacher, at the beginning of the course. The Students With Disabilities Office is located in D128 at the North Campus and in A120 at the Lakeshore Campus. VI. ACADEMIC REGULATIONS Students have the responsibility for being aware of regulations. These regulations are available at course registration time and at any time throughout the semester, from the Registrar’s Office or from the Humber web site (http://registrar.humberc.on.ca) under the heading of General Information. VII. STUDENT/FACULTY CONSULTATION OUTSIDE OF CLASSROOM HOURS It is the responsibility of your teacher to be available for consultation with you outside of classroom hours. Teacher and student timetables may vary significantly; as a result, a consultation time will have to be arranged that is mutually agreeable to both the teacher and student. Arrangements to meet with a teacher outside of classroom hours should be made during regularly scheduled classes. 11