Syllabus B BUS 502 Quantitative Methods and Business Statistics Course Description

SYLLABUS
B BUS 502
QUANTITATIVE METHODS AND BUSINESS STATISTICS
Course Description
This course reviews descriptive statistics, exploratory data, and probability distributions. We will
then examine the theory and methods of statistical inference, emphasizing those applications most
useful in modeling business problems. Topics include sampling theory, estimation, hypothesis
testing, linear regression, analysis of variance, and several advanced applications of the general linear
model.
Text Business Statistics for Contemporary Decision Making (6th Edition) by Black, K. Wiley
Publishers, ISBN-10: 0470409010; ISBN-13: 978-0470409015
Technology
Microsoft Excel, Tableau (license number provided)
Learning Objectives
of inferential methods widely used in management

analysis.
lational data, and appreciate the

limitations of using correlational methods to test theories of causation.
can be prevented).
tatistical results presented in professional reports and journals.
informed management judgments.
Topics Examined:
o Descriptive Statistics/Exploratory Data Analysis

o Visualization of Data**
o Probability Distributions
o Sampling Distributions/Sampling Error

o Estimation: Means
o Estimation: Proportions
o Hypothesis Testing: Single Population
o Sample Size Determination
o Sampling Methods
o Managing Total Survey Error
o Statistical Power
o Hypothesis Testing: Comparing Two Related Populations

o Hypothesis Testing: Comparing Two Independent Populations
o Statistical model and Assumptions

o Statistical Inference in Multiple Regression
o Correlation and Causation
o Interpreting Regression Results
o Modeling Techniques (linear, curvilinear)
o Variable Selection and Model Refinement
o Time-series Regress (trends, lagged effects, seasonal effects)
o Experimental Design
o One-Way Analysis of Variance
** a new topic added 2011 which coincides with the textbook and student requests
Instructional Method
Interactive Classes. Class time will be devoted to short lectures, problem solving, in class
exercises and discussion. The participation of students in these activities will contribute to the
learning experience of all students in the class.
Case Studies. Students will acquire many important insights outside of class through case analysis
and group collaboration. A case study describes a business problem. Working in small teams,
students will analyze the problem, recommend a solution, and defend their recommendation. Most
cases will require considerable statistical analysis on the computer.
Tableau project: Students will use need to utilize Tableau software to visually analyze data and
draw inferences. In class, Tableau will be demonstrated. If your computer is not Tableau accessible,
we will have it available in a computer lab on campus or will arrange to have you pair up with a
classmate.
Case studies
Please prepare thoroughly for all case. Before we discuss a case in class, read it carefully, conduct
any necessary statistical analysis and review your findings with other class members. Attempt to
identify and solve the critical managerial problem(s) suggested in the case. Several of the cases are
complicated. Do not be frustrated if you have difficulty with them, and do not hesitate to contribute
to class discussion even if you are unsure of your recommendation. Generally, there is no single
correct solution to a case problem. Your job is to thoughtfully analyze the case and to present your
findings.
Grading
Case Write-ups 100 points
Tableau Project 100 points
Midterm Exam 100 points
Final Exam 100 points
Exams: Tests will be based on terminology, equations, methods, and applications from the book.
Case write-ups: To receive full credit for a case write-up, you must attend the in-class discussion of
that case. Note that these assignments will be meticulously graded for composition. All case study
assignments must be submitted in class no later than the designated due dates.
Tableau project: To receive full credit for the Tableau project, a dashboard should be created and
uploaded with explanations of how the viz is used to uncover potential trends and hypotheses.
An example will be provided to the class.

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SYLLABUS

of inferential methods widely used in management

lational data, and appreciate the

informed management judgments.

o Descriptive Statistics/Exploratory Data Analysis

o Sampling Distributions/Sampling Error

o Hypothesis Testing: Comparing Two Related Populations

o Statistical model and Assumptions

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