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M&IS 24056 Summer 2007 A. Smith

KENT STATE UNIVERSITY
MANAGEMENT AND INFORMATION SYSTEMS DEPARTMENT
FUNDAMENTALS OF BUSINESS STATISTICS
Course Title:   M&IS 24056
INSTRUCTOR: Alan D. Smith, Ph.D, University Professor of Operations Management
e-mail: smitha@rmu.edu FAX: 412/262-8494
Office Hours: Tuesday and Thursday: 5:00 –5:55 PM
Other hours by appointment.
 

> <b>Description of the Course:<b>
M&IS 24056 Statistics introduces the students to the application of statistical methodology in business, education, and science. The first part of the course deals with the efficient collection, organization, and description of data, commonly referred to as descriptive statistics. Several techniques for describing the data graphically and numerically will be covered. The second part, statistical inference, is the process of drawing conclusions about unknown characteristics of a population from which the data were taken. Interval estimation, hypothesis testing and analysis of variance will be discussed in detail. The last part of the course is predictive statistics, and its purpose is to develop predictions of future values based on historical data based on correlation and regression analysis. Basic concepts of probability theory are also part of the course.
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Prerequisite:
MATH 11011 (College Algebra) or permission by the Undergraduate Advising Office in the College of Business Administration..  Students attending the course who do not have the proper prerequisite risk being deregistered from the class.
 
 
Course Outline:
  1. Data Collection and Presentation.
  2. Probability Concepts.
  3. Random Variables and Distribution Theory.
  4. The Normal Probability Distribution.
  5. Sampling Distributions and Estimation.
  6. Hypothesis (both small and large samples)Testing.
  7. Correlation and Regression Analysis.
  8. Analysis of Variance.
  9. Chi-square
 
Course Objectives:
 
This course is an introduction to concepts in statistical methods and their applications to real-world problems. This course will examine both the theoretical and practical side of the different methods. Students will be given ample opportunities to apply the techniques to different problems. The goal of the course is for students to understand fundamental statistical concepts and methods, and their applications.
 
After successful completion of the course, the student should be able to:
  1. Recognize statistical terminology in such a way that he or she may be able to communicate with other   professionals that use statistics as a tool for research or decision making.
  2. Recognize situations in which the use of statistical methodology would be appropriate to acquire a full understanding of a system, process or population under consideration.
  3. Apply statistical tools such as descriptive, inferential or predictive techniques, and interpret the results obtained through mathematical computations or computer software.
  4. Analyze data, contrast and compare decision alternatives, and examine any population using statistical methodology.
  5. Evaluate solution alternatives to a particular situation based on the results obtained from statistical analysis, and also he or she should be able to present his or her findings by using professional communication skills such as managerial reports and/or oral presentations.
 
Instructional Materials:
  1. Basic Business Statistics Concepts and Applications, by M. L. Berenson, D. M. Levine, and T. C. Krehbiel, Pearson/Prentice-Hall, 2006. (Latest edition).
  2. SPSS (available in computer labs).  At selected times during the course we will make use of the statistical software package SPSS. SPSS is available on the business school computer labs on the second floor of BAB. The instructor will provide students will all necessary commands to operate SPSS.
 
Instructional Procedure:
Most of the class periods will be used to explain material and the logic behind the techniques being used. Homework will be assigned at the end of each class meeting. Students are encouraged to ask questions at any time. The instructor expects from the students to keep up the working of problems with the material being covered.
 
Evaluation of Student's Performance:
Attendance: You can adequately learn the course content only if you attend class regularly. For each three classes missed the final letter grade will be lowered by one letter grade.
Exams:  We will have two exams’ a midterm and a final semi-comprehensive exam. The midterm exam will cover descriptive statistics and probability principles and sampling distributions; the final exam will cover primarily statistical inference and predictive statistics.
Homework Assignments: To be discussed in class.
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Course Grade Policy:
  • Midterm Exam .........  30%
  • Final Exam .......…. 40%
  • Group project covering SPSS and its oral presentation .........  30%

> <b><i>Numeric Grade Letter Grade Numeric Grade Letter Grade <i>
93 - 100:     A         77 - 79:         C+
> 90 -&nbsp;&nbsp; 92:&nbsp;&nbsp;&nbsp;&nbsp; A-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70 - 76:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; C <br> 86 -   89:     B+       60 - 69:         D
> 83 -&nbsp;&nbsp; 85:&nbsp;&nbsp;&nbsp;&nbsp; B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Below 60:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; F <br> 80 -   82:     B-
> Your overall score (OS) for the course is determined by the following equation:<div>
OS = 0.30 (Midterm Exam score) + 0.40 (Final Exam score) + 0.30 (group statistical project score).
 
Policy Requirements:
 
  1. There are no makeup exams in this class for any reason. In emergency situations, which needs to be properly documented (i.e. doctor or employer's excuse-note), the weight assigned to a missed exam will be added to the final exam weight. There will be no exceptions to this policy.
  2. There are no excused absences, late arrivals, or early departures, but I appreciate notice if you know you will be missing class, arriving late or departing early.
  3. Cheating in any form will result in an automatic grade of F for the course. Talking to neighbor in class will result in student being assigned a permanent seat away from a neighbor.
  4. Students have responsibility to ensure they are properly enrolled in classes.  You are advised to review your official class schedule (using Web for Students) during the first two weeks of the semester to ensure you are properly enrolled in this class and section.  Should you find an error in your class schedule and if registration errors are not corrected by the proper date and you continue to attend and participate in classes for which you are not officially enrolled, you are advised now that you will not receive a grade at the conclusion of the semester for any class in which you are not properly registered.
  5. During all examinations, you are allowed an 8.5” by 11” sheet (front and back) containing information of your choice.  The tests will consist of definitions, essays, and problems.  Examination will typically last 90 minutes.
  6. Students will need a calculator for all examinations. Your calculator must have a statistics mode to allow for the quick calculation of means, standard deviations and variances.
 

Academic Integrity:

We will follow the University Policy on Academic Integrity.  Academic honesty: Cheating means to misrepresent the source, nature, or other conditions of your academic work (e.g., tests, quizzes, papers, projects, homework assignments) so as to get undeserved credit. The use of intellectual property of others without giving them appropriate credit is a serious academic offence. It is the University’s policy that cheating or plagiarism result in receiving a failing grade (0 points) for the work or course. Repeat offences may result in dismissal from the University.
 
Course Withdrawal:
For the Summer III 2007 semester, the course withdrawal deadline is August 6, 2007 (July 20 through August 6). Withdrawal before the deadline results in a “W” on the official transcript; after the deadline a grade must be calculated and reported.
 
Students with disabilities:
University policy 3342-3-18 requires that students with disabilities be provided reasonable accommodations to ensure their equal access to course content.  If you have a documented disability and require accommodations, please contact the instructor at the beginning of the semester to make arrangements for necessary classroom adjustments.  Please note, you must first verify your eligibility for these through the Student Accessibility Services (contact 330-672-3391 or visit http://www.registrars.kent.edu/disability/ for more information on registration procedures).
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