DALTON STATE COLLEGE BUSINESS STATISTICS COURSE SYLLABUS, SPRING 2016 COURSE Course Number: BUSA 3050-01 (CRN 20635) Course Title: Business Statistics Time and Place: TR 9:25 A.M. to 10:40 A.M. Lorberbaum Liberal Arts 307 Catalog Description: Emphasizes applications of statistics in business. Topics include methods of presenting data, numerical measures and correlation, probability theory and probability distributions, sampling distributions, estimation, hypothesis testing, and linear regression.(F,S) Prerequisites: MATH 2181 or concurrent, Upper Division eligibility. Credit Hours: 3.000 Course Material: Statistical Techniques in Business and Economics, 16th Edition, Lind, Marchal, and Wathen. ISBN 978-0-07-802052-0, MHID 0-07-802052-2 INSTRUCTOR Name: Dr. Garen Evans Office: Gignilliat Memorial 221 Office Hours: Tuesday and Thursday: 12:15 pm – 2:15 pm MWF: 11 am – 2 pm (occasional) Other times by appointment. E-mail Address: gevans@daltonstate.edu (Subject line include “BUSA3050”) Office number: 706-272-2024 1 COURSE OBJECTIVES The primary objective of this course is to help students develop their analytical abilities by introducing them to the basic tools of statistical analysis, including descriptive and inferential statistics. Topics include descriptive measures, probability, estimation, hypothesis testing, correlation and regression analysis, and forecasting. LEARNING OUTCOMES Upon completion of this course student should be able to: 1. Construct and interpret tabular and graphical methods of presenting qualitative and quantitative data. 2. Construct and interpret summary numerical measures of location, variability, and association for the sample and the population. 3. Apply basic probability concepts, expected value, and variance to a variety of business applications. 4. Use probability and sampling distributions in a variety of business applications. 5. Construct and interpret interval estimates. 6. Estimate regression models, evaluate the results of regression models, and use the results for prediction and forecasting. 7. Use Microsoft Excel to generate descriptive statistics and perform correlation, regression, and trend analyses. EXAMS, PROJECTS, AND HOMEWORK Exams: 3 major exams and 1 final exam. Exams may include all material in the textbook, as well as any material presented or discussed during class meetings. An exam that is missed will be considered an F unless: (1) your instructor is notified on or before the date of the exam by e-mail; and (2) the excuse is for a legitimate reason (e.g., medical emergency, family emergency, etc.); and (3) the student provides the instructor with adequate documentation in a timely manner (e.g., doctor's note, or official memorandum from the Office of Academic Affairs, Department of Athletics, etc.). 2 The final exam, like all the exams, is generally comprehensive, yet it is heavily weighted on the most recent material covered. The final exam can be taken only at the regularly scheduled time, unless you can document that you have three or more final exams scheduled on the same day. In order to reschedule, you must notify the instructor prior to the last day of class. Homework: assignments and problem sets are due at the beginning of class. Homework pertaining to material covered on each exam may be submitted late, any time prior to the day of the exam: the penalty for late submissions is 20%. Note that submissions on and after the day of the exam will not be accepted. Any exceptions are at the discretion of the instructor on a case-bycase basis. Quizzes: will be administered during class meetings and may or may not be announced. There will be no makeup quizzes under any circumstance. GRADE DETERMINATION Course Weighted Average Specification: Major Exam #1: ...................................................................................................... 20% Major Exam #2: ...................................................................................................... 20% Major Exam #3: ...................................................................................................... 20% Final Exam: ............................................................................................................. 20% Homework and Quizzes: ......................................................................................... 20% Total: ..................................................................................................................... 100% Final Letter Grade Determination: Please remember that your grade in this course is not a prediction of your success after graduation, nor is it an evaluation of your worth as a person. A=(90%-100%), B=(80%-89%), C=(70%-79%), D=(60%-69%), F=(0%-59%) 3 ADDITIONAL COURSE INFORMATION Attendance Students are expected to attend all scheduled classes and are responsible for all class related work and assignments. Attendance will be noted for each class meeting. Up to 5 bonus points will be automatically applied to each exam score. The number of bonus points will decrease by one point for each absence (whether excused or unexcused); it is possible for the exam bonus to be negative. See note below about how attendance is determined. Attendance will primarily be determined by timely submission of homework at the beginning of class, or completion of a quiz, or other assignment. Attendance may also be noted by physical presence (hint: don’t be late to class). The instructor reserves the right to drop a student from the course for an excessive number of excused or unexcused absences that precludes the possibility of passing the class, whereupon the student will be given a grade of “F”. Excessive absence for this class is defined as six (6) or more unexcused absences. Please review the student handbook and the college’s guidelines and calendars for refund and other deadlines. Specific Requirements and Class Policies Cellphones must be set to make no audible noise. During exams, unless otherwise specified or by express consent of your instructor, the usage of cell phones, laptops, or tablets is prohibited. Some notes and other resources may be available and accessed only online. I prefer no non-emergency texting or other cellphone use during class meetings. I prefer no eating during class meetings. Unless otherwise specified, you may prepare one 3 inch by 5 inch notecard with handwritten notes and formulae for use during exams. 4 ACADEMIC HONESTY I expect your best, honest effort. Academic dishonesty will not be tolerated. I will strictly follow the policies set forth by Dalton State College: http://daltoncampuslife.com/student-conduct The following are subject to punishment by failure (generally with a zero grade) of assignment or test or by failure in the course, at the instructor’s discretion: Cheating. That is, giving or receiving answers on assigned material, or using materials or aids expressly forbidden by the instructor. Plagiarism. That is, offering someone else’s work, words, or ideas as one’s own or using material from another source without acknowledgement (note – the only exception to this is for textbook materials quoted on a test). Interference. That is, interfering without permission with the work of another student, either by obtaining, changing, or destroying the work of another student Buying/selling term papers, homework, exams, labor assignments, computer programs, etc. Unauthorized possession of an examination. Falsifying one’s own or another person's records. Knowingly assisting someone who engages in any of the above. CLASSROOM BEHAVIOR Dalton State College is committed to the Roadrunner Respect pledge: I pledge to show my fellow Roadrunner students, faculty, staff, and administration respect by treating others the way they want to be treated and by thinking about others first before making decisions that might affect them. To learn more, please visit http://daltoncampuslife.com/roadrunner-respect 5 HELPFUL HINTS The level of expectation is high for this class, so I encourage you to make good choices throughout the semester. The first part of the course is heavily focused on using Excel to manage data, and generally students do very well on this part. The second part of the course is slightly more demanding, and introduces quantitative measures that are used throughout the rest of semester. The balance of the course is heavily quantitative, primarily analytical, and focused on topics that are as rewarding and useful, as they are challenging. Statistics is an interesting and practical approach to understanding data. It is also a very mathintensive and analytical field of study that can be very challenging. Most students have a lot of practice memorizing, but few have much practice applying mathematical techniques to real world data. Students who actually learn the material will be rewarded over students who simply memorize the material just to get through exams. Be prepared to put in several hours each week (I recommend at least three). Work through the material, and apply techniques, and statistical methods to various sets of data, even if it’s data that you find or create yourself. If you find that you are not earning the scores that you feel that you have worked for, hang in there and keep studying and reading the text before the lecture. There is a direct correlation between homework grades and exam grades! Given this emphasis, systematic study, rather than cramming is advisable. Exams will be taken directly from the lecture or the text material, so attending the lectures, reading the text and completing homework are all important learning tools. Online resources associated with the official textbook are not required. However there may be some advantage to using those and other online resources. There are numerous lectures available on video sharing sites (Youtube, Khan, etc.) and they may offer different perspectives on the material covered in this course. However, be cautious and use those resources with a healthy dose of skepticism; your instructor is willing to vet specific videos and other outside resources, on request. Some students have reported better comprehension by reading before attending lectures, yet some do better by reading afterward. Be curious, patient, and persistent - this course increases the value of your degree: if it was easy, anyone could do it. Likewise, if it was easy to obtain a degree anyone could get one, and it would not be worth very much. You’ve made the right decision and I’m here to help. 6 COLLEGE POLICIES COURSE DROP STATEMENT: The late drop date is the last day to drop this class without academic penalty and it is Thursday, March 17, 2016. Courses dropped after the drop/add period and on or before the late drop date a re assigned a grade of W. After the late drop date, course withdrawal without academic penalty is permitted only in cases of extreme hardship as determined by the Vice President for Academic Affairs; otherwise a grade of WF will be issued. The Schedule Adjustment Form is used after t he official drop/add period and students must obtain instructor or unit approval in addition to pro viding a reason for dropping. New freshman students must meet with their school’s advisor to in itiate the drop process. Dropping a class is the student’s responsibility and the W and WF grades count as attempted hours for the purposes of financial aid. COMPLETE WITHDRAWAL STATEMENT: Revised July 17, 2012 The proper form for withdrawing from all classes at the college after the official drop/add period but before the published withdrawal date is the Schedule Adjustment Form. All students must meet with a staff member at the Office of Academic Resources in the Pope Student Center to init iate the withdrawal process. After meeting with the staff member, students will then finalize the withdrawal process in the Enrollment Services Office. DISABILITY SUPPORT SERVICES: Revised for Fall 2014 Students with disabilities or special needs are encouraged to contact Disability Support Ser vices. In order to make an appointment or to obtain information on the process for qualifying for accommodations, the student should visit the Disability Support Services Library Guide http://li bguides.daltonstate.edu/Disability or contact the Coordinator of Disability Support Services. Contact information: Andrea Roberson, Coordinator Pope Student Center, lower level (706) 272-2524 aroberson@daltonstate.edu WORKFORCE DEVELOPMENT: If a student receiving aid administered by the DSC Workforce Development Department drops th is class or completely withdraws from the College, the Schedule Adjustment Form must be taken to the Workforce Development Office located in Room 214 of the Technical Education Building . The Office is open on the following schedule: Monday/Tuesday/Thursday: 9:00 a.m.-12:15 p.m. and 1:30 p.m. - 5:00 p.m. Friday: 8:00 a.m.- 12:00 p.m. The office phone number is (706) 272-2635. 7 MISSION STATEMENT The School of Business at Dalton State College offers undergraduat e business programs to serve Northwest Georgia and the surrounding areas to positively impact t he regional community. Our mission is to provide innovative educational opportunities and creat e a high quality work force with skills needed by area employers. Vision: We seek to continuously improve our status as an academically respected and student-o riented regional school of business. Values: Responsible citizenship: We believe graduates should make positive contributions to their business and local communities. Ethics: We believe graduates should work, above all, in a manner that adheres to ethical norms of both the business and local communities. Diversity: We encourage multi-cultural and international learning and experiences to develop a respectful awareness for diversity and social integration. Innovation: We believe graduates should be able to develop new approaches to meeting market needs. Quality-seeking and adaptation: We believe graduates should challenge existing processes and adapt to changing market conditions through continuous individual improvement. Engagement: We believe graduates and faculty should effectively engage the business and civic communities; locally, regionally, and internationally. Outcomes/Goals: 1. Improve student awareness of the global environment and business issues. 2. Encourage innovative instructional practices to improve student engagement and course learning outcomes. 3. Offer new curriculum and degree programs desired by students and area employers. 4. Promote faculty-initiated research with a balanced contribution to practice and pedagogy. 5. Generate and promote research and activities that disseminate expertise benefitting the local business community. 6. Ensure students are properly prepared for upper division business courses. 7. Endorse development and engagement of professional and support staff. 8. Promote business majors to traditionally underserved groups, including Military, Hispanic, and first-generation college student populations. 8 TENTATIVE CLASS CALENDAR AND PLAN OF WORK CM* Month Date Day Chap 1 2 JAN 7 12 R T 1 2 3 14 R 2 4 19 T 2 5 21 R 3 6 26 T 3 Population variance and standard deviation 7 28 R 3 2 T 4 Sample variance and standard deviation. The Empirical Rule. Quartiles, interquartile range, percentiles, and box plots. 4 R 4 Outliers, Coefficient of Skewness 9 T 11 R 8 FEB 9 Syllabus, Intro, Chapter 1 Frequency tables and bar charts. Relative frequency tables and pie charts. Frequency polygons and frequency distributions. Arithmetic mean, geometric mean, weighted mean, median, mode, minimum, maximum, range. Notes Advanced Excel Advanced Excel Advanced Excel Review EXAM #1 10 16 T 5 11 12 13 18 23 25 1 3 8 10 R T R T R T R 5 7 7 MAR Topic Basic probability concepts: special and general rules of addition and multiplication. Permutations and Combinations The Normal distribution, Z-values Standardized Normal distribution Review EXAM #2 Spring break Spring break 14 15 T 8 15 17 R 9 16 22 T 9 17 24 R 10 18 29 T 11 19 20 21 22 23 24 31 5 7 12 14 19 21 26 R T R T R T R T Sample error, standard error, and the Central Limit Theorem Confidence intervals Student’s t distribution, sample size determination One-Sample Hypothesis Testing Two-Sample Hypothesis Testing (i.e., equal variance, and paired-t ) EXAM #3 13 13 13 14 14 15 Correlation Linear Regression Linear Regression Multiple Regression Multiple Regression Goodness of Fit ( χ2 ) Final Review Final Exams: [3050-1] April 28, 8:00 A.M. [3050-2] May 3, 10:30 A.M. *CM – class meetings (reference number for homework assignments) 9