ECON E270 INTRODUCTION TO STATISTICAL THEORY IN ECONOMICS AND BUSINESS SPRING 2019 19218 DR. MARCY JANCE 765-973-8341 HAYES HALL 255-R MJANCE@IUE.EDU Indiana University East School of Business and Economics Econ E270 Introduction to Statistical Theory in Economics and Business Spring 2019 (19218) Mission of the School of Business and Economics: The Mission of Indiana University East`s School of Business and Economics is to provide graduates with a globally recognized IU degree. Our diverse and knowledgeable faculty and staff offer an engaging, quality education that meets the changing needs of the regional population and business community. Faculty Information: Dr. Marcy Jance is an Associate Professor of Business Administration at Indiana University East. She primarily teaches BUS K209 (Fundamentals of Microsoft Office) and ECON E270 (Statistics). Her research interests include using analytics and lean six sigma techniques to solve business problems. Dr. Jance has a Ph.D. in Management Science from Illinois Institute of Technology Stuart School of Business in Chicago, has attained her Certified Analytics Professional certification, and is currently pursuing her Lean Six Sigma certification. Office: Hayes Hall 255R (in the School of Business and Economics Suite) Office Hours: Tuesdays: 2:00 to 4:00 PM EST Wednesdays: 9:00 AM to 1:00 PM EST Also, by appointment Office Phone: 765-973-8341 Cell Phone: 219-929-6602 You are welcome to call and/or to text me on my cell phone. However, please only do so between the hours of 8AM EST to 8PM EST. Please let me know who you are when sending a text. Email: mjance@iue.edu • I will respond to email within 24 hours or less during the week. Please allow additional time on weekends, breaks, and holidays. Note, please feel free to contact me throughout the semester if you have any questions and/or concerns! If you need help with the course or have concerns, please don’t be afraid to contact me! 2 Course Description: Covers descriptive statistics (tables, graphs, and numerical measures), probability, discrete distributions, the normal distribution, sampling distributions, hypothesis testing, confidence intervals, regression, and other statistical topics. Course Prerequisite(s): None Course Materials: We will be using MyStatLab (homework manager) this semester. MyStatLab contains the etext for the class. Instructions on how to setup your MyStatLab account can be found in Canvas Modules. The etext that we will be using through MyStatlab is the following: Business Statistics A First Course 7th Edition Authors: Levine, Szabat, and Stephan Publisher: Pearson Campus Learning Outcomes (CLOs): 3. Apply principles of inquiry to define and analyze complex problems through reasoning and discovery 5. Demonstrate a deep understanding of a field of study BSBA Program Goals and Outcome: Goal 1: Students will be skilled in critical thinking and decision making to prepare them to tackle industry problems and ethical dilemmas as supported by the use of quantitative and qualitative theories and technological resources. Goal 1 Outcome: • Utilize technology to perform business tasks and to provide solutions for industry problems. Course Learning Outcomes: After successful completion of the course, students should have the following skills: • Be able to distinguish among and to create appropriate tables (e.g. frequency distribution, relative frequency distribution) and graphs (e.g. pie chart, bar chart, histogram, scatter diagram) for different types of data (qualitative vs. quantitative). • Be able to calculate and to understand the importance of descriptive numerical measures such as the mean, median, mode, standard deviation, variance, covariance, and correlation. • Know how to calculate probabilities for different types of probability distributions such as the binomial and normal distributions. • • • Construct confidence intervals Conduct hypothesis tests Have acquired valuable Excel skills (e.g. how to create different types of graphs and tables, how to use Excel statistical functions such as STDEV.S) that will be beneficial to their undergraduate studies and careers. 3 Assessment of Course Learning Outcomes: • The course learning outcomes will be assessed through assignments, projects, and exams. Course Requirements: Letter Grade Grading Scale A AB+ B BC+ C CD+ D DF 93% to 100% 90% to 92% 87% to 89% 83% to 86% 80% to 82% 77% to 79% 73% to 76% 70% to 72% 67% to 69% 63% to 66% 60% to 62% Below 60% Course Requirements Assignments Projects Exams Total Points Points 410 110 180 700 Assignments: • The purpose of the assignments is to help reinforce the concepts learned during the course. For example, students will be assigned homework problems that involve creating different types of tables and graphs, calculating descriptive statistics numerical measures (e.g. mean, median, standard deviation), finding probabilities, constructing confidence intervals, conducting hypothesis tests, and solving other types of statistical problems. • All assignments except for Assignment 1 (Introduction) will be completed in MyStatLab. • Note your official grade for a MyStatLab assignment will appear in Canvas Gradebook, not the MyStatLab gradebook. • • The MyStatLab assignments will remain open through Friday, April 26, 2019 11:59 PM EST. However, please note that a 10% late penalty applies on work completed after the assignment due date. MyStatLab assignments will not be accepted after April 26, 2019. The following are the course assignments and due dates. Assignment Assignment 1 (Introduction) Points Possible 5 4 Assignment Topic Due Date Students will introduce themselves to their classmates and instructor. Wednesday, January 16, 2019 11:59 PM EST Assignment 2 (Chapter 2) Assignment 3 (Chapter 3) 45 Assignment 4 (Chapter 4) 45 Probability Wednesday, February 13, 2019 11:59 PM EST Assignment 5 (Chapter 5) Assignment 6 (Chapter 6) Assignment 7 (Chapter 7) Assignment 8 (Chapter 8) Assignment 9 (Chapter 9) Assignment 10 (Chapters 12 and 13) 45 Discrete distributions 45 Normal distribution 45 45 Sampling distributions Confidence intervals 45 Hypothesis testing 45 Simple Linear Regression and Multiple Regression Wednesday, February 20, 2019 11:59 PM EST Wednesday, February 27, 2019 11:59 PM EST Wednesday, March 20, 2019 11:59 PM EST Wednesday, March 27, 2019 11:59 PM EST Wednesday, April 3, 2019 11:59 PM EST Wednesday, April 10, 2019 11:59 PM EST 45 Descriptive statistics: Tables and graphs Descriptive statistics: Numerical measures The assignment will not be accepted after January 16th. Wednesday, January 16, 2019 11:59 PM EST Wednesday, January 30, 2019 11:59 PM EST Projects: • The purpose of the projects is to assess how well students have mastered the course material. In addition, the projects will help to reinforce the concepts learned during the course. • Project 1 covers descriptive statistics: tables, graphs, and numerical measures. It will be due Wednesday, February 6, 2019. • Project 2 covers hypothesis testing and regression. It will be due Wednesday, April 17, 2019. • Information regarding the projects will be posted in Canvas. Exams: • The purpose of exams is to assess how well students have mastered the course material. • There will be two exams. • Exam 1 will cover Chapters 2, 3, 4, 5, and 6. It will be due Wednesday, March 6, 2019. • • Exam 2 will cover Chapters 7, 8, 9, 12, and 13. It will be due Friday, April 26, 2019. More information concerning the exams will be posted to Canvas. 5 Course Schedule: Note, this is a tentative schedule and is subject to change depending on how quickly the material is covered. There will be no classes the week of March 11th due to Spring Break. Check Canvas for a guide to the course schedule and requirements. Week 1: Week of January 7th Topic Chapter 2 (Descriptive Statistics: Tables and Graphs) 2: Week of January 14th Chapter 2 (Descriptive Statistics: Tables and Graphs) Chapter 3 (Descriptive Statistics: Numerical Measures) 3: Week of January 21st Assignments 1 (Introduction) and Assignment 2 (Chapter 2) are due Wednesday, January 16th Chapter 3 (Descriptive Statistics: Numerical Measures) 4: Week of January 28th Chapter 3 (Descriptive Statistics: Numerical Measures) Chapter 4 (Probability) 5: Week of February 4th 6: Week of February 11 th 7: Week of February 18th Assignment 3 (Chapter 3) is due Wednesday, January 30th Chapter 4 (Probability) Project 1 is due Wednesday, February 6th Chapter 5 (Discrete Distributions) Assignment 4 (Chapter 4) is due Wednesday, February 13th Chapter 5 (Discrete Distributions) Chapter 6 (Normal Distribution) 8: Week of February 25th Assignment 5 (Chapter 5) is due Wednesday, February 20th Chapter 6 (Normal Distribution) Chapter 7 (Sampling) Assignment 6 (Chapter 6) is due Wednesday, February 27th 9: th Week of March 4 Chapter 7 (Sampling) 6 Chapter 8 (Confidence Intervals) 10: Week of March 18 Exam 1 is due by Wednesday, March 6th Chapter 8 (Confidence Intervals) 11: Week of March 25th Assignment 7 (Chapter 7) is due Wednesday, March 20th Chapter 9 (Hypothesis Testing) 12: Week of April 1st Assignment 8 (Chapter 8) is due Wednesday, March 27th Chapter 9 (Hypothesis Testing) th Chapter 12 (Simple Linear Regression) Chapter 13 (Multiple Regression) th 13: Week of April 8 Assignment 9 (Chapter 9) is due Wednesday, April 3rd Chapter 12 (Simple Linear Regression) Chapter 13 (Multiple Regression) 14: Week of April 15th 15: Week of April 22nd Assignment 10 (Chapters 12 and 13) is due Wednesday, April 10th Project 2 is due Wednesday, April 17th Exam 2 is due by Friday, April 26th Canvas Class Site Information: The following are the major sections of Canvas that will be used in this course. Section Purpose Modules Provides a guide to the course. Information related to assignments, projects, exams, and other course information will be posted in Modules. MyLab and Mastering Most assignments will be completed in MyStatLab. It also contains (link to MyStatLab) the etext (book) for the course. Grades Grades listed for all assignments, projects, exams, and any other items. Quizzes The two exams will be taken in Canvas Quizzes. Chat A place where students can post and respond to questions from other students and the instructor. Course Policies and Additional Information: 7 • Students are expected to maintain academic and professional honesty and integrity. Please review the IUE Code of Student Rights, Responsibilities, and Conduct for more information concerning student rights and academic misconduct issues such as cheating and plagiarism. • If you require academic assistance for a disability or have an academic need then please contact the instructor and Peixuan Yan (Disability Services Coordinator) at 765-9738446. Please see the following policies and procedures for more information. • IU Policy on Sexual Misconduct: “As your instructor, one of my responsibilities is to create a positive learning environment for all students. Title IX and IU’s Sexual Misconduct Policy prohibit sexual misconduct in any form, including sexual harassment, sexual assault, stalking, and dating and domestic violence. If you have experienced sexual misconduct, or know someone who has, the University can help. If you are seeking help and would like to speak to someone confidentially, you can make an appointment with: Center for Health Promotion at 765-973-8216 (counseling services) It is also important that you know that Title IX and University policy require me to share any information brought to my attention about potential sexual misconduct, with the campus Deputy Title IX Coordinator or IU’s Title IX Coordinator. In that event, those individuals will work to ensure that appropriate measures are taken and resources are made available. Protecting student privacy is of utmost concern, and information will only be shared with those that need to know to ensure the University can respond and assist. I encourage you to visit stopsexualviolence.iu.edu to learn more.” • Canvas Modules provides a guide for the course. Please go to Modules to see what is required and expected of the students in the course. You will find the required readings, assignment /projects/exams details, and other important information in Modules. • Statistics is a challenging course. Students need to work lots of practice problems and ask questions. Please contact me if you have any questions regarding the course. • The class text contains many practice problems and examples. It is recommended that students work through as many problems as possible. The solutions to most even numbered problems are in the back of the book. • You are to work by yourself on all assignments, projects, and exams unless otherwise specified. • Please do not wait until last minute to complete the assignments, projects, and exams. 8 • Please save a backup copy of all your work. • Microsoft Excel is a good tool for doing descriptive statistics, regression, other statistical analysis, and for creating charts. • Students will need Adobe Reader to view “pdf” files and will need the Microsoft Office 2016 (or higher) programs: Word, Excel, and PowerPoint for the course. Please visit IUWare: https://iuware.iu.edu or IUanyWare: https://uits.iu.edu/iuanyware to access these Microsoft Office programs. • If you have technical problems or questions, please contact the IUE Help Desk at 765973-8375. References • • • Essentials of Business Statistics 2nd Edition by Sanjiv Jaggia and Alison Kelly. McGraw Hill is the publisher. Statistics for Business and Economics 13th Edition by David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Camm, and James Cochran. Cengage is the publisher. Statistics for Business and Economics 13th Edition by James McClave, P. George Benson, and Terry Sincich. Pearson is the publisher.
