# 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

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

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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