IUPUC Division of Business. E280 Applied Statistics for Business & Economics I

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1 IUPUC Division of Business E280 Applied Statistics for Business & Economics I Course Details Fall Semester 2012 Thursdays 6:00 9:00 p.m. Dr. Frank H. Wadsworth, CFE [email protected] Office Hours: Thursday 3:00 6:00 p.m. Course Description Summary measures of central tendency and variability. Basic concepts in probability and important probability distributions. Sampling, sampling distributions, and basic estimation concepts such as confidence interval, estimation, and hypothesis testing. What This Course is About The primary objective of this course is to provide students with an introduction to applied business statistics. Conceptual discussion of the topics of business statistics will occur along with the actual analysis of data using Microsoft Excel. Texts, Readings and Other Course Materials Required: Berenson, Mark L., David M, Levine, and Timothy C. Krehbiel (2012), Basic Business Statistics, 12 th Ed., Prentice Hall. ISBN # Optional: E280 Practice Problem Workbook Course Prerequisites MATH-M 153, or M118, or M119, or M165, and BUS-K 201 or equivalent Excel skills. IUPUC PUL s The undergraduate program in the Division of Business is designed to provide students with the quality and scope of learning addressed in the IUPUC Principles of Undergraduate Learning (PUL). These PULs are listed and explained online at: Page 1

2 Division of Business Assurance of Learning Principle of Undergraduate Learning/Program SLO 1. Core Communication and Quantitative Skills (Foundation Skills) Upon completion of the program, students are able to: 1.1 Write, read, speak and listen. 1.2 Develop and deliver effective presentations. 1.3 Perform quantitative analysis. 1.4 Use information resources and technology. What will be assessed Assessment Tool Target Results 1.a The ability to use quantitative Rubric based Overall average methods to analyze business evaluation of memos of 80%; no and economic data. transmitting analysis individual 1.b The ability to express ideas and and conclusions from student at less facts using tables, charts, and business case than 60%. text. scenarios. 1.c Effectiveness of selecting and using the appropriate quantitative tools and reasoning to propose solutions to business scenarios. 2. Critical Thinking Skills Upon completion of the program, students are able to: 2.1. Analyze information and ideas carefully and logically from multiple perspectives. 2.a The ability to identify problems, develop feasible solutions, and then choose from alternatives. 2.b The ability to analyze data and interpret the output from statistical analysis. Rubric based evaluation of memos transmitting analysis and conclusions from business case scenarios. Overall average of 80%; no individual student at less than 60%. Grading Criteria Description Deadline Date Points Module Opportunities 50 pts.) Varies (see tentative course schedule) 300 Problem Sets 20 pts) Varies (see tentative course schedule) 120 Syllabus Quiz, 20 pts September 10, TOTAL 440 Assignments and Grading Details Deadlines for the course activities are in the Tentative Course Schedule. The grading rubric for the problem sets is in the last section of this syllabus titled Problem Set Grading Rubric. All work on the problem sets must be original work by each student. For more details, please see the Division of Business Issues and Policies section under the Academic Misconduct section. Attendance, Makeup Work and Other course-specific Policies Attendance is mandatory at all scheduled sessions. No late assignments will be accepted for grading purposes. Page 2

3 If classes are canceled due to inclement weather or other issues, students, faculty and staff will be notified through IU Notify. All students, instructors and IU employees should register for IU Notify. Go to OneStart. Click on Notifications. Look for IU Notify in the left menu area. If I must cancel a class, I will notify students using Oncourse and also send a message to the Division of Business office. Division of Business Issues and Policies Accommodations for a Disability: Students needing accommodations because of a disability will need to apply for Adaptive Educational Services and complete the appropriate forms issued by AES before accommodations will be given. The AES office is located in LC You can reach the office by calling (812) If you would like to share pertinent medical information, or request special arrangements for class seating, or need special assistance in the event of a building evacuation, please see me after the first class meeting. Accommodations for Religion: If any student becomes aware of a conflict with class assignments that will require assistance or appropriate academic accommodations for religious reasons, contact your instructor as far in advance as possible after class, during office hours or by individual appointment. Withdrawals: See or the Registration Guide for IUPUC policies. Contact your advisor, the Division of Business office or Student Services if you need additional information regarding policies on Withdrawals, which are in force for all IUPUC classes. For specific deadlines on withdrawals, see the IUPUC Academic Calendar at: Academic Misconduct: Students in the Division of Business, and at IUPUC generally, are expected to conduct themselves appropriately as adults pursuing the intellectual and professional growth that is the aim of the university setting. Academic misconduct, which may include plagiarism, cheating, and false claims regarding academic work or activity, may result in disciplinary action according to the policies established by IUPUC. Both students and instructors should be familiar with these policies, as summarized here: Within the Division of Business, both instructors and students are expected to speak up regarding evidence of academic misconduct. Division of Business students should consult their respective Handbooks (for the undergraduate and masters programs) for details. Page 3

4 Indiana University has a license for a software program known as Turnitin. This software is designed to help ensure the academic integrity of the course and protect the honest efforts of conscientious students. Term papers and select assignments may be submitted electronically to Turnitin.com. Incomplete Grades: A grade of Incomplete may be awarded only when a student has substantially completed the course (generally considered to be at least 75% of the course) and some unusual circumstance arises that makes completion of the course unlikely during the regular semester time window. The instructor submits a form specifying the work that has to be completed, the time frame allowed for completing it, and the likely grade if the work is completed satisfactorily. The time allowed may be up to one year. If the expected work has not been completed, then the I grade automatically changes to an F. It is recommended by the Division of Business that any remaining work on an I grade be completed within 60 days. Emergency Services: Students may request an escort from classes to their vehicles on campus. For this and other emergency services, please see the Registration Guide for details. Tentative Course Schedule Date Module Textbook Chapter Module Problem Set Due Date 8/20 Introduction Chapter 1 Chapter 1 Excel Guide (p ) 8/22 Graphical Presentations of Data Chapter 2 Chapter 2 Excel Guide (p ) 8/27 Graphical Presentations of Data 8/29 Graphical Presentations of Data Due 8/29 9/3 Labor Day Recess 9/5 Module Opportunity: Graphical Presentations of Data 9/10 Summary Measures Chapter 3 Chapter 3 Excel Guide /10 Syllabus Quiz (due before the start of class) 9/12 Summary Measures 9/17 Summary Measures Due 9/17 9/19 Module Opportunity: Page 4

5 Summary Measures 9/24 Probability Distributions Chapter 4 Chapter 4 Excel Guide (p ) 9/26 Probability Distributions 10/1 Probability Distributions 10/3 Probability Distributions 10/8 Probability Distributions Chapter 5 Chapter 5 Excel Guide (p ) Chapter 6 Chapter 6 Excel Guide (p ) Due 10/8 10/10 Module Opportunity: Probability Distributions 10/15 Fall Break 10/17 Central Limit Theorem Chapter 7 Chapter 7 Excel Guide (p ) 10/22 Central Limit Theorem 10/24 Central Limit Theorem Due 10/24 10/29 Module Opportunity: Central Limit Theorem 10/31 Confidence Intervals Chapter 8 Chapter 8 Excel Guide (p ) 11/5 Confidence Intervals 11/7 Confidence Intervals 11/12 Confidence Intervals Due 11/12 11/14 Module Opportunity: Confidence Intervals 11/19 Hypothesis Testing Chapter 9 Chapter 9 Excel Guide (p ) 11/21 Hypothesis Testing 11/26 Hypothesis Testing 11/28 Thanksgiving Recess 12/3 Hypothesis Testing Chapter 10 Chapter 10 Excel Guide (p ) 12/5 Hypothesis Testing 12/10 Hypothesis Testing 12/12 Module Opportunity: Hypothesis Testing Due 12/5 Page 5

6 Problem Set Grading Rubric PUL: Core Communication and Quantitative Skills Goal: students are able to: express ideas and facts to others effectively; comprehend, interpret, and analyze data; and identify and propose solutions for problems using quantitative tools and reasoning. Outcome: Students apply quantitative methods appropriately to solve problems. Activity: Students write business memos Measure: Students write business memos describing their analysis and conclusions about a business scenario. Primary Traits Situation Analysis O Excellent O Acceptable O Unacceptable Support for Conclusion(s) O Excellent O Acceptable O Unacceptable Conclusion O Excellent O Acceptable O Unacceptable Organization O Excellent O Acceptable O Unacceptable Readability O Excellent O Acceptable O Unacceptable Overall Results Overall % correct (points earned divided by total points on the paper): % Overall assessment rating: (1) Excellent (All five primary traits receive an excellent rating). Final grade is typically 90-97% of project points. (2) Acceptable (three to four primary traits receive an excellent rating, one or two primary traits receive an acceptable rating, no more than one unacceptable rating). Final grade is typically 80-89% of project points. (3) Unacceptable (Fewer than three primary traits receive an excellent rating, two or more unacceptable ratings). Final grade is typically 65-79% of project points. Page 6

7 Rubric Definitions Excellent Acceptable Unacceptable Situation Analysis Completely summarizes all of the main topics of the scenario. Situation analysis is missing one of the main scenario topics. Situation analysis is missing more than one of the main scenario topics. Support for Conclusion(s ) Clear, well-thought out, and data-supported conclusion. Explicit understanding of the reason(s) why the conclusion is relevant to the scenario. Unclear, not well-thought out, and/or no data support for conclusion(s). Implicit understanding of the reason(s) why the conclusion is relevant to the scenario. Unclear, not well-thought out, and no data support for conclusion(s). Implicit understanding of the reason(s) why the conclusion is relevant to the scenario. Conclusion Conclusion is relevant to the scenario. Conclusion is only partially relevant to the scenario. Conclusion is not relevant to the scenario. Organization Memo follows a clear and wellstructured organizational pattern that develops the memo goal throughout. The main points of the memo strongly support the goal. Details support the memo goal. Memo points are arranged clearly, but do not support the goal. Organizational pattern is not well structured. Details provide incomplete support for the memo goal. No clearly identifiable organizational pattern is used in developing the ideas in the body of the memo. Details are lacking or not relevant to the memo goal. Readability No spelling, grammar or punctuation errors. Memo uses active voice, is concise and clear, and uses language appropriate for the audience. Paragraphs address one topic. Maximum of four grammar errors; text is unclear or wordy. Memo is written at too high or too low a level for the intended audience Number of grammar and spelling errors is unacceptable; memo is overly wordy or uses unclear language; paragraphs ramble. Page 7