BUSSTAT 207 Introduction to Business Statistics Fall 2015

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1 BUSSTAT 207 Introduction to Business Statistics Fall 2015 Instructor: Brady Lawrence Office: MBEB 3209 Phone: Office Hours: WF 1:00-3:00PM (Include 207 in subject line) Course Description and Objectives: This course introduces you to the basic concepts of statistical analysis with an emphasis on how statistical tools are applied to assist in business decision making. The course will cover the basic tools used to describe data for the purposes of transforming data into information. In addition, the course will present the fundamentals of statistical inference showing how it is possible to examine a small subset of data to reach conclusions about the larger set of data. The statistical tools will be introduced from an applied perspective using many business related examples. Students will learn how to employ Microsoft Excel software to aid in their statistical analysis. Required Text: Business Statistics: A Decision-Making Approach, 9 th Edition by, Groebner, Shannon, and Fry. Prentice Hall, 2014 MyStatLab (Access code is available for sale at MyStatLab.com or with a new textbook) Required Computer: Laptop or Notebook with Excel 2013 (If you don t have one, COBE has some available for checkout.) Co/Prerequisites: Coreq: Math 160 (or Math 170) Prereq: Math 143 & ITM 105 (or passing COBE Computer Placement exam)

2 Expected Course Outcomes: Students who successfully complete this course with a grade of C or better should be able to: Formulate a plan for collecting sample information that may be analyzed using statistical tools Summarize and present data in an effective manner through graphs, charts, tables, and numerical measures Model and explain business data and relationships using probability as a tool Model and explain the results of random sampling in business using the binomial and normal probability distributions Develop and interpret confidence interval estimates for the characteristics of a single population and for comparisons of the characteristics of two populations Formulate and analyze statistical hypotheses about the characteristics of a single population or about the comparison of two populations Effectively communicate the results of a statistical analysis both orally and in writing Use Excel software as a tool to store, organize, analyze and present data Students will be required to demonstrate competence in the above items through a variety of assessment techniques including applied examinations, short quizzes, assignments, and projects. Students in this class will learn or practice the following COBE Core Curriculum concepts, methods, and skills: 1. Understand and apply analytical and disciplinary concepts and methods related to business and economics: 1.5. Information Technology Management Mathematics & Statistics 2.1. Communicate effectively: Write messages and documents that are clear, concise, and compelling 2.2. Communicate effectively: Give oral presentations that use effective content, organization, and delivery 3. Solve problems, including unstructured problems, related to business and economics 4. Use effective teamwork and collaboration skills 5. Demonstrate appropriate principles of responsible business practices 5.1 Resolve issues related to Individual Responsibility (Business Ethics) 5.2 Resolve issues related to Corporate Social Responsibility 5.3 Resolve issues related to Leadership Responsibility (Corporate Governance) 5.4 Resolve issues related to Environmental Responsibility (Environmental Sustainability) 5.5 Resolve issues related to Cultural Responsibility (Diversity) 2

3 Flipped Classroom: I will be providing much of the content for this class in a series of short online videos. Rather than using a lecture format, class meetings are instead devoted primarily to problem solving and examples that apply the material covered in videos. This is the flipped classroom approach popularized by Khan Academy. My objective is to make the learning more effective, active, efficient and social (fun). There are several advantages to learning in this format, especially as it pertains to Business Statistics. The most important is to meet the pacing needs of a diverse group of students. Students have varied backgrounds and abilities. Some students struggle to keep up with a discussion and are reluctant to ask the instructor to slow down, while others desire a faster pace. Online delivery provides tremendous flexibility in this regard. Students needing more time to digest material can pause the presentation to collect their thoughts, view calculations, study the illustrations, etc. They can replay the content at their leisure. Conversely, I find that I deliver the content in far less time online. This allows students desiring a faster pace to reduce their time commitment and maintain their focus. Another important advantage is the ability to segment the material into digestible pieces. The short length of the videos addresses the fact that learners often have difficulty focusing on a topic for more than 15 to 20 minutes. It also allows students to fit learning into breaks in their schedules. An advantage specific to statistics instruction is the ability to interact with spreadsheets during the presentation. Students can pause the video and view calculations in the spreadsheets, or make them on their own prior to restarting the video. It also improves efficacy and efficiency. Calculations are delivered far more efficiently on a spreadsheet as compared with a whiteboard, we can utilize Excel s statistical functions, and students can easily track and interact with the inputs. Students often need assistance with problem solving, especially on case problems. In the traditional approach students often give up on problem solving outside of class, and instead come to class and watch the instructor provide solutions. In a flipped classroom the instructor can provide information that allows students to continue to progress on problems independently. This is far more conducive to learning. Class time can be much more interactive and tuned to meet student needs. The meetings are devoted to revisiting those portions of the online presentation requested by students as well as problem solving, case application and further illustration of the concepts. Students have time to formulate questions within the context of the entire presentation and can bring them to class. The learning is more active and social as students learn from one another while working together in groups on problems and cases. More advanced students deepen their understanding by explaining material to their peers. The flipped classroom model is now being used extensively in classrooms from K-12 through the university level. Please help me make it successful by working diligently on assignments during class. Since content is being delivered outside of class, the duration of class periods is flexible. 3

4 Educational Opportunities Event Total Number of Assignments Points Weight Homework % Bloomberg Assignment % Quizzes % Exams % % Grading 97 x 100 = A+ 93 x < 97 = A 90 x < 93 = A- 87 x < 90 = B+ 83 x < 87 = B 80 x < 83 = B- 77 x < 80 = C+ 73 x < 77 = C 70 x < 73 = C- 60 x < 70 = D Homework: Homework Assignments will be assigned through MyStatLab. Due dates for all homework assignments are indicated in the course calendar and in MyStatLab. Late homework will be accepted at a 10% discount per day. The lowest homework score out of the nine assignments will be dropped. In addition, the text is loaded with problems and questions at the end of each section and the end of the each chapter. It is recommended that you do as many of these problems as your schedule will allow. 4

5 Quizzes & Exams: Quizzes will be handled through MyStatLab. Quizzes will be taken in class and will cover chapters as indicated in the course calendar. Your points for the quizzes will be determined by multiplying your overall quiz percentage by 18 points. We will have four exams and a comprehensive final exam. These will be a mixture of multiple choice questions over concepts and problems requiring you to demonstrate your understanding of the course material. Exams are within MyStatLab and are weighted equally. They are open book, open note, but closed to computer resources. Expect to use Excel 2013 or a suitable substitute. No makeup exams will be given during the term. Quizzes and Exams have a hard due date, which is listed online in MyStatLab and in the course calendar. Quizzes and exams may be attempted only once and have passwords associated with them that will only be available in class. There will be two ways in which the final course grade will be determined. The standard default method will be to drop the lowest exam score and take the final exam. If, and only if, all quizzes, homework and exams were attempted, your final exam grade can be determined off of the first four mid-term exams. To be clear, if you do not take the final and do NOT meet these requirements then the standard default method will be used to determine the course grade. Bloomberg Analyses: A Bloomberg case analysis will be assigned during the semester to help you learn how to apply descriptive statistical tools. The case will be graded on the basis of quality of statistical analysis and interpretation, and format of the final submitted product. No late cases will be accepted. All cases must be submitted in a professional format and must be typed, double spaced, 12 point, Times Roman Font. All output must be inserted into the document and appropriately labeled. Class Attendance: You are expected to attend and participate in every class. Academic Honesty: Cheating and lying will not be tolerated. Although you are encouraged to study together and to help each other, you are responsible to submit your own original work. You can receive no outside help from students or other persons on any exam or quiz other that which is specifically specified by the instructor. Please refer to the Boise State University Academic Honesty policy in the Undergraduate Catalog if you have any questions. 5

6 Fall 2015 Course Calendar Week # Date Topic/Event Aug Introductions, MyStatLab, StatCrunch and Excel 28-Aug Chapter 1: The Where, Why, and How of Data Collection 2-Sep Chapter 2: Graphs, Charts, and Tables - Describing Your Data 4-Sep Quiz 1 - Chapters 1 & 2 9-Sep Chapter 1 & 2 Review 11-Sep Exam 1: Chapters 1 & 2 ; Chapters 1 & 2 Homework Due 16-Sep Chapter 3: Describing Data Using Numerical Measures 18-Sep In-Class Exercises 23-Sep Chapter 4: Introduction to Probability 25-Sep Quiz 2 - Chapter 3 30-Sep Chapter 5: Discrete Probability Distributions 2-Oct Quiz 3 - Chapter 4 7-Oct Hands-On Exercises 9-Oct Quiz 4 - Chapter 5 ; Bloomberg Assignment (Due, October 12 at 11:59PM) 14-Oct Chapters 3-5 Review 16-Oct Exam 2: Chapters 3-5 ; Chapters 3-5 Homework Due 21-Oct Chapter 6: Continuous Probability Distributions 23-Oct In-Class Exercises Oct Chapter 7: Sampling Distributions 30-Oct Quiz 5 - Chapters 6 & Nov Chapters 6 & 7 Review 6-Nov Exam 3: Chapters 6 & 7 ; Chapters 6 & 7 Homework Due Nov Chapter 8: Estimating Single Population Parameters 13-Nov In-Class Exercises Nov Chapter 9: Introduction to Hypothesis Testing 20-Nov Quiz 6 - Chapters 8 & Nov 27-Nov Thanksgiving Holiday - No Classes 15 2-Dec Chapters 8 & 9 Review 4-Dec Exam 4: Chapters 8 & 9 ; Chapters 8 & 9 Homework Due 16 9-Dec Review for Final Exam 11-Dec Chapters 1-9 Finals 16-Dec Section 002 Final Exam: 9:30-11:30AM Section 003 Final Exam: 12:00-2:00PM *Schedule is tentative and may change throughout the semester. 6

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