UNIVERSITY OF IOWA Tippie College of Business Department of Economics ECON 2800 Statistics for Strategy Problems Summer Course Information

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1 UNIVERSITY OF IOWA Tippie College of Business Department of Economics ECON 2800 Statistics for Strategy Problems Summer 2015 Course Information Overview We apply sophisticated statistical tools to aid managers in business decisions. We do this by extending the single-population techniques which you learned in Business Statistics to multiple populations, each of which corresponds to choosing a different business option or strategy. Specific course topics include: Two-Population Comparisons, Chi-Square Tests, Analysis of Variance, Multiple Regression, Logistic Regression, and Time-Series Forecasting. Lecture MTWTh 9:30-12:00 in C207 PBB Exam F 9:30-11:30 in C207 Instructor Blake Whitten Office/Contact: S306 PBB (319) Office Hours (See Weekly Course Schedule in ICON Announcement) Main Stats Course Website (not ICON) blake/econ2800 Course Materials Course Notes Packets from Zephyr Copies, 124 E. Washington, (319) Textbook: The Practice of Statistics for Business and Economics, 3nd Edition 2011 by Moore, ISBN Available at UI Bookstore (Old Capitol Mall) and elsewhere. Calculator: You need one which calculates both one-variable statistics (sample standard deviation) and two-variable statistics (correlation and the regression equation.) Check your calculator s stats functionality on the Calculator Help link on the main Stats Website. Recommended calculators if you need one: TI-83 or TI-83 Plus graphing calculators have easy data entry. (But these models are a bit expensive and graphing capability is not needed.) Many Casio calculators are less expensive and should do fine. If your calculator is not listed on the Calculator Help link, simply google your calculator s directions for standard deviation and regression. MINITAB 16 Statistical Software * From any web browser through the university s Virtual Desktop (free to UI students): * Available at most campus computing centers (ITC s), including the Tippie College. 1

2 Course Notes Are the Key! Course Features Two Course Notebooks are available from Zephyr Copies, 124 E. Washington downtown. Students complete the Course Notes by working in-class examples. If you miss class, get that day s notes from a classmate or during Prof. Whitten s office hours. How To Succeed With Stats Homework Access HW Directions in the Course Supplement. Refer to examples in Course Notes for guidance. Work answers on separate paper. Check answers with the HW Solution posted online. (The HW Solution can also be printed, optionally, for easy reading.) Track your HW progress with this (highly recommended!) accounting system: CHECK OFF questions which you answer correctly. (These questions are completed.) But CIRCLE questions which you miss. Search for similar questions in Course Notes, get help in office hours/stats Lab. Later, RETURN to each circled (missed) question and rework it (on blank paper) until you get it right and can check it off the list! Quizzes We quiz often as great practice! Preview Recall Quizzes check for retention and understanding from Preview Recordings. Homework Quizzes provide practice solving problems and answering questions from recent HW assignments and Topic Notes. Exams Exams are multiple-choice and closed-book. Three 60-minute Midterm Exams are given on Fridays (see Course Schedule), in addition to a (comprehensive) two-hour Final Exam on Friday, June 12. Midterm Replacement Policy: If the Final Exam score exceeds at least one of the Midterm Exam scores, then the single lowest Midterm score is replaced by the Final Exam score (at most one replacement) in the calculation of the course grade. Experience shows that taking exams on schedule is vital to Stats success! All students commit to the published exam schedule upon enrollment. Special makeup exams are available for illness, religious observance, and for NCAA athletic competition. (Contact lead TA.) Makeup exams are not available for other reasons, including student org field trips, club competitions and personal events. You still have the option to miss an exam, in which case the missing score is automatically replaced by the Final Exam Score as per the Replacement Policy in previous paragraph. /ICON See the Weekly Course Schedule posted in ICON Announcements. Prof. Whitten occasionally sends important course updates by and by ICON Announcement. Please check often for these. See ICON Grades for exam scores and error lists. See ICON Content for quiz solutions. 2

3 Course Grades Grades in ECON 2800 are earned based on individual performance as described below rather than assigned as arbitrarily preset percentages. Weights for Course Percentage: 10% Preview Quizzes 15% Homework Quizzes 15% Exam 1 15% Exam 2 15% Exam 3 30% Final Exam 100% Calculate your own Course Percentage as follows: 1. Drop your lowest Preview Quiz score and lowest HW Quiz score before calculating the Preview Quiz Percentage and HW Quiz Percentage. 2. Replace your lowest Midterm Exam score with your Final Exam score only if such replacement improves your score (at most one such replacement.) 3. Now calculate as follows: Course % = (0.10)(Preview Quiz) + (0.15)(HW Quiz) + (0.15)(Exam 1) + (0.15)(Exam 2) + (0.15)(Exam 3) + (0.30)(Final Exam) Course grades are earned according to the following minimum Course Percentage: A 92% A 90% B+ 88% B 82% B 80% C+ 78% C 72% C 70% D+ 68% D 62% D 60% F Below 60% For instance, a Course Percentage of % earns a grade of B in ECON (All students earn grades on the same scale, no individual exceptions.) Administrative Notes Honor Code Course policies are governed by the Tippie College of Business. The College requires students to affirm and sign the Tippie College Honor Code on each exam. Violation of the Honor Code (i.e., any form of cheating) including, but not limited to: copying answers or communicating with other students during quizzes or exams, or the unauthorized use of notes or computer files will result in a failing grade for the course and referral to the appropriate academic committee. Students sign and submit an Honor Code form before taking quizzes or exams. Disabilities Please see me as soon as possible (after class or during office hours) if you have any disabilities for which alternative arrangements for lectures or exams should be made. Student Disability Services (located in Burge Hall) directs such arrangements at UI and also welcomes student inquiries. Sexual Harassment The Tippie College of Business and the University of Iowa are committed to providing students with an environment free from sexual harassment. If you feel that you are being or have been harassed or you are not sure what constitutes sexual harassment, we encourage you to visit the University website, and to seek assistance from department chairs, the Dean s Office, the University Ombudsperson s Office, or the Office of Equal Opportunity and Diversity. Department Chair John Solow, W210 PBB, , 3

4 Course Schedule Outline (subject to change) Week 1 Mon Tues Wed Thurs Fri May Topics 1 2 Topic 3 Topic 4 Topic 5 Exam 1 (Topics 1 3)(HW 1 2) (review Bus. Stats) (Two proportions) (χ 2 tests) (Two means) Exam 1 Review Week 2 Mon Tues Wed Thurs Fri May HOLIDAY Topic 6 Topics 7/8 Topic 8 Exam 2 (Topics 4 6)(HW 3 4) (ANOVA) (Correlation/Regression) (Regression) Exam 2 Review Week 3 Mon Tues Wed Thurs Fri June 1 5 Topic 9 Topic 9 Topic 10 In-Class E3 PQ Exam 3 (Topics 7 9)(HW 5 8) (Multiple (Multiple (Logistic Exam 3 Review Regression) Regression) Regression) Add l E3 PQ Week 4 Mon Tues Wed Thurs Fri June 8 12 Topic 11 Part 1 Topic 11 Part 2 Topics 10/11 Homework Final Exam (Time Series) (Time Series) Practice Questions Catchup Day Q/A with Prof. Whitten 4

5 Stats Homework Assignment Topics Covered HW1 Topic 1: Basic Concepts, Topic 2: CI & HT Exam 1 HW2 Topic 3: Two Proportions HW3 Topic 4: Chi-Square, Topic 5: Two Means Exam 2 HW4 Topic 6: ANOVA HW5 Topic 7: Correlation, Topic 8: Simple Regression HW6 Topic 8, Part 2 HW7 Topic 9: Multiple Regression Exam 3 HW8 Topic 9, Part 2 HW9 Topic 10: Logistic Regression HW10 Topic 11: Time Series (comprehensive) HW11 Topic 11, Part 2 Final Exam Tip: See How To Succeed With Stats Homework on page 2 of the syllabus to leverage the homework to your biggest competitive advantage! 5

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