Syllabus –Spring Semester 2021 Course ID: Course Name: Department: Credits: BUS1502A BUSINESS STATISTICS Business - Undergraduate 4 Credits Instructor: Telephone: Email: Office: Professor Dana M. Benbow, MBA (H) 973-347-8657 (C) 973-945-1006 benbowd@centenaryuniversity.edu Brotherton 113 Office Hours: All office hours will be virtual conducted on Teams until further notice. Monday 4:00 – 5:00 PM Tuesday 8:30 – 9:30 AM Wednesday 2:00 – 3:00 PM Thursday 8:30 – 9:30 AM Other times by appointment Class Meetings: Monday 12:00 to 1:40 AM in TBD Wednesday 12:00 to 1:40 AM synchronously online Prerequisites: MTH1501 Course Description: This course builds upon MTH-1501 (or equivalent statistics course) to develop skills in the use of quantitative tools and techniques used in the analysis and formulation of business management decisions. The course covers hypothesis test, ANOVA analysis, and Chi-Square analysis in addition to a thorough exploration of regression, modeling, forecasting, and the use of business analytics. Students are exposed to advanced analyses and the communication of analysis in the management context. Textbooks: Levine, David M., Stephan, David F., & Szabat, Kathryn A. (2017). Statistics for Managers Using Microsoft ® Excel (8th ed.).Upper Saddle River, NJ: Pearson ISBN: 9780134465975. (Note: MyStatLab is NOT required and there are options to the hard copy text.) The Wall Street Journal (online or paper copy) and associated business/industry periodicals with statistical reports and analyses. American Psychological Association. (2010). Publication Manual of the American Psychological Association (6th ed.). Washington, D.C. Optional Text: You may find this online text helpful if you are still learning Excel. Just click on the “Go to the Material” button and you can download the online, free text. https://www.merlot.org/merlot/viewMaterial.htm?id=773403896 DMB 1/4/21 BUS1502A – Business Statistics Spring Semester 2021 Supplemental course materials as indicated by the instructor or within this syllabus. You will also need a calculator and we will utilize Excel (PC or Mac; Google Sheets will not work for you) to solve problems in class and for quizzes and exams. University Syllabus Statement on Moodle Business Department Learning Outcomes (BDLOs) Honor Code In addition to any terms and conditions outlined in this syllabus, please also review the University Syllabus Statement posted in Moodle. Learners graduating from Centenary University's business programs are expected to perform the following activities as a business practitioner: BDLO 1. a. Construct coherent written business communications. (Mapped to CGE 1) b. Deliver coherent oral business communications. (Mapped to CGE 1) BDLO 2. Analyze quantitative data in support of business decisions. (Mapped to CGE 2, 3, 4) BDLO 3. Collaborate as team members on group assignments. (Mapped to CGE 5) BDLO 4. Apply the ethical requirements and obligations of organizations in a business environment. (Mapped to CGE 6) BDLO 5. Apply theory and practice across business disciplines to identify, analyze, and solve business problems and leverage business opportunities. Each student bears a fundamental responsibility for maintaining academic integrity and intellectual honesty in his or her work. For example, all students are expected to submit their own rather than another's work, to refrain from falsifying data, and to refrain from receiving and/or giving aid on examinations or other assigned work requiring independent effort. In submitting written material, the writer takes full responsibility for the work as a whole, and implies that, except as properly noted by use of quotation marks, footnotes, etc., both the ideas and the works used are his or her own. In addition to maintaining personal academic integrity, each student is expected to contribute to the academic integrity of the school community by not facilitating inappropriate use of her/his own work by others and by reporting acts of academic dishonesty by others to an appropriate school authority. It should be clearly understood that plagiarism, cheating, or other forms of academic dishonesty will not be tolerated and can lead to sanctions up to and including separation from Centenary University. DMB 1/4/21 2 BUS1502A – Business Statistics Spring Semester 2021 Course Information Instructional Techniques: This course uses a combination of teaching methods including lecture, class discussion, case study, exam, and individual projects. Class and online discussions are an integral part of the course. All students are expected to contribute to course dialogue and be active participants in discussions. Course Objectives: Upon completion of this course, students should be able to: Demonstrate the use of statistical data in business problem solving and apply statistical tools to analyze basic business situations. (CGE 2,3,4 and BDLO2) Make basic interpretations of quantitative data using statistical techniques. (CGE 2, 3, 4 and BDLO’s 1 and 2) Utilize the application of probability to decision-making in business risk scenarios. (CGE 2,3,4 and BDLO2) Demonstrate the ability to properly present quantitative findings. (CGE 1 and BDLO1) Student Evaluation: Students will be evaluated based on participation in class discussions, demonstration of critical thinking skills, and on the quality of their work on problems, quizzes, short papers, and exams. Skills of planning, organization, critical review of related literature, and actual execution and presentation of work are part of the evaluation. Grading: Grades will be assigned in the following manner: Attendance/participation Quizzes and discussion forums Exams (3) Personal Paper Total 5% 20% 60% 15% 100% Course grades are based upon a student’s work throughout the entire semester. No extra credit is available, and assignments may not be resubmitted, so be sure to put forth your best effort on every assignment. Grades are based strictly on individual performance, not on any environmental factors (e.g., tuition reimbursement policies at your corporation or requirements for graduation). All grade questions and requests must be made in writing. In order to retain professionalism among the student(s) and not create a counterproductive classroom atmosphere, grade questions should remain between the instructor and the student. Grade Scale: DMB 1/4/21 Grade A A- Quantitative Qualitative 93 to 100 Excellent 90 to 92 B+ B B- 88 to 89 83 to 87 80 to 82 Good C+ C C- 78 to 79 73 to 77 70 to 72 Average Definition Superior quality in the mastery of content and method of the course, demonstrated ability to perceive relationships, initiative in doing work in which quality consistently surpasses that required. Good understanding of the content and method of the course, demonstrated ability to recognize relationships, better than average achievement of course objectives and fulfillment of course requirements. Sufficient understanding of the content and method of the course, demonstrated ability to recognize obvious relationships, adequate achievement of course objectives and fulfillment of course requirements. 3 BUS1502A – Business Statistics Attendance: Spring Semester 2021 D+ D D- 68 to 69 63 to 67 60 to 62 Below Average F 59 and below Failure Incomplete understanding of the content and method of the course, inability to demonstrate satisfactory recognition of obvious relationships, unsatisfactory achievement of course objectives and requirements. Lack of understanding of the content and method of the course, failure to achieve objectives and/or complete requirements of the course. Academic performance is contingent upon the student’s attendance in all class activities. If an absence is unavoidable, the student must, if possible, discuss the absence with the faculty member before the absence. Students who miss a scheduled class activity are fully responsible for the class content and information presented that day. Note: this should not include an expectation that the instructor will “reteach” the class for the student who misses class. The responsibility is the student’s to connect with classmates and review posted materials to obtain content. Class activities will almost certainly be conducted over multiple modalities this semester (consult the remainder of the syllabus and the instructor communications to clarify the modalities for this course). Therefore, the following defines the expected student engagement by the various modalities: In-person, on ground class activities – Here traditional attendance expectations will hold; arrive on time, prepared to participate and contribute, and stay engaged throughout the session. For students unable to attend classes or who opt out of in-person attendance, attendance is established by 1) attending lectures synchronously online (with camera ON) and actively participating in class discussion including group activities or 2) accessing all materials asynchronously (i.e., viewing the recorded lecture, reading the posted lecture slides, and completing study problems) and then emailing two to three pages of study notes (typed or copies of handwritten notes) to me. All students are expected to complete any posted Discussion Forum for the week. Online activities where participation by student is expected at a defined time – These are often described as synchronous activities. In our case, these will be scheduled lectures accompanied by student discussion that will take place during a regularly scheduled class period. Students are expected to arrive on time, keep their cameras ON, respond to chat and verbal discussion as requested, and stay through the entire session. Sessions will be recorded to permit students to review both material and discussion later; a link will be provided on Moodle. Lecture slides will be posted on Moodle as well. Attendance in this modality is accomplished by meeting the expectations defined above. For students unable to attend class at the time scheduled, attendance is established by accessing all materials asynchronously (i.e., viewing the recorded lecture, reading the posted lecture slides, and completing study problems) and then emailing two to three pages of study notes (typed or copies of handwritten notes) to me. All students are expected to complete any posted Discussion Forum for the week. Online activities where participation by student can be scheduled at their convenience (but expected prior to some established deadline) – These are often described as asynchronous classes and are designed for students to review posted lecture slides (sometimes with embedded audio), video clips, supporting articles, etc. and will in most instances be accompanied by a DMB 1/4/21 4 BUS1502A – Business Statistics Spring Semester 2021 discussion forum to be completed by a certain defined point in time. Attendance is measured here by completion of the tasks for the class period within the time and manner requested. All course lectures delivered in hybrid or synchronous formats will be recorded and a link provided on that day’s Moodle page. While I will notify students that I am turning recording on in class, this will serve as a general notice that class lectures on Teams will be recorded. Students with technology connectivity issues, must make the professor aware of the issue as soon as possible. This will facilitate appropriate action to address the situation. Participation: Students are expected to participate regularly and actively in class activities and discussions; without substantial participation, you cannot get an A in this class. Note, “activities” should be read broadly here to include both face-to-face, synchronous, discussion forums, and online group discussions. Participation grades will be largely based upon assessments of course engagement across the course modalities and accumulated over the semester. Ten points are available for each class day excluding exam days, 270 points for the semester. A base of 7 points is awarded for meeting the attendance guidelines above. Deductions are made from the base for late arrival, early departure, and inappropriate conduct during class activities (e.g. texting, e-mail, side conversations, camera off, etc.). Additions are made for active participation in activities such as discussion, building on comments or points made by other classmates, offering new insights, and/or demonstrations of problem solution in class. The final grade will reflect the percentage of total points achieved over the semester subject to instructor adjustment for unique circumstances. A pattern of non-attendance and/or non-participation may lead to withdrawal from the course or failure. Generally, lack of participation/attendance in two weeks’ worth of work will lead to withdrawal or failure. I also expect you to regularly check your Centenary email basis as I will email the class at various points during the course to provide updates and/or explanatory materials. Homework: Each learner is required to complete each class’s assignments before arrival in class. This includes the reading of textbook chapters and completion of assigned chapter problems in preparation for discussion. Consult the Schedule provided below and daily assignments on Moodle for specifics. It is critical for you to work the problems on your own. You WILL be expected to solve problems in discussion forums, on quizzes, and exams so DO NOT overlook the need to practice in advance. The reading of textbook chapters should be the first task as each chapter provides information that will facilitate the successful completion of the course’s activities. Be sure to focus on working through the example problems as they will walk you through the calculations in parallel to the textbook. Additional readings and problems may also be assigned to expand and explore course concepts. Because most statistical analyses in the workplace are completed in Excel, it is expected that, where appropriate, you will use Excel, the Data Analysis Tool Add-Ins, and the course-provided templates to solve problems. As we will frequently refer to Excel-based solutions, be sure to bring your laptop to each class. DMB 1/4/21 5 BUS1502A – Business Statistics Discussion Forums Spring Semester 2021 Unless otherwise noted and required by the specific discussion forum, primary responses (initial responses to discussion forum postings) must be at least 250 words (excluding quotes, signature blocks, etc.) and supported by references, where appropriate for non-original ideas or expansive material. Primary responses are to be posted by 6:00PM on Tuesday (forum will open on Monday). Some forums will contain problems as opposed to discussions. Secondary responses where required (those in response to other students’ and the instructor’s postings) should be at least several sentences in length (a minimum of 100 words, excluding quotes, signature blocks, etc.) and substantial, meaning that your message has value and helps to further the discussion of course content. Substantial messages include contributions of additional ideas and sources, insights or questions about classmates’ comments, connections to the course readings, ways of applying the lessons from the course, etc. Short comments, such as "Good idea" or "I agree," are not substantial on their own; neither are comments unrelated to the week’s topics. All of your points should be explained fully. Secondary responses are to be posted between 6:00 PM Tuesday and 6:00 PM on Thursday. Primary and secondary responses must include citations and references in APA format, as appropriate. Tips for creating substantial participation: Explain why you agree or disagree and add some examples to support your belief. Relate your personal or work experiences to the topic. Ask additional questions of your classmates. Make connections between the topic and the weekly readings. Grading of forums will be based upon timeliness, quantity, and quality of input across original post and responses to classmates. Laptop Policy: Students are encouraged to use laptops for educational purposes during this course and will need access to a mobile device for virtual lectures. As we will frequently refer to Excel-based solutions, be sure to bring your laptop to every class session even if you are participating via a mobile app. Late Assignments: Twenty percent (two full grades) will be deducted per day late (i.e., 24 hours), up to a maximum of two days (48 hours). After two days, late assignments are not accepted. No assignments will be accepted after the last day of class. THERE ARE NO EXCEPTIONS TO THIS POLICY. Quizzes: To facilitate preparation and mastery, regular quizzes will be given. These are designed to provide feedback prior to the two exams. Unplanned absence is not an allowable excuse for missed quizzes, and quizzes missed without prior notice and agreed upon arrangements may not be made up. All decisions concerning a make-up are at the discretion of the instructor. Exams: Exams generally may not be made up, unless there are extenuating circumstances such as a documented severe illness. In the event of a missed exam, it is the responsibility of the student to contact the instructor (via email) within 24 hours of the missed exam or forfeit any possibility of a make-up. All decisions concerning a make-up are at the discretion of the instructor. DMB 1/4/21 6 BUS1502A – Business Statistics Personal Paper: Spring Semester 2021 As a means of connecting your study of Business Statistics to your planned professional endeavors and/or discipline of study, you will complete a personal paper of at least four pages that addresses the following: Your paper should provide background and discussion of the use of statistics and related analytic tools in the business area/industry you plan to pursue as a career. You may need to do some research to identify these and be sure to provide citations for your sources. You should identify what types of data are used in management decisions in your industry or professional practice. Try to be as specific as you can about the type of data and the type of business decisions the data supports. Again, research may be helpful here. Finally, provide a summary and conclusory discussion that highlights the role of data analytics in your chosen industry. Your paper should be in APA format, with supporting citations in text and references, a minimum of four pages (approximately 1,000 words) in length (not including any supporting data that should be in an appendix. The paper is due April 14th. A rubric can be found at the back of the syllabus for this assignment. DMB 1/4/21 7 BUS1502A – Business Statistics Spring Semester 2021 Expectations of students in BUS1502 – Spring 2021 Business Statistics may look intimidating, but this material can be mastered by anyone willing to follow a few guidelines. Our textbook is designed to walk you through the concepts and leverage software applications to do a great deal of the heavy lifting. The following outline identifies paths to success that are also frame my expectations: Commit to a study plan. This course is more challenging than most business courses and will require 2 to 3 hours of outside work per class on average for you to master the material. The earlier you commit to the work, the easier you will find the course. Practice solving problems. The answers to the even numbered problems in the text can be found at the back of the textbook. The assigned class discussion problems represent a minimum level of practice. Additional problem solving at your own direction will be necessary to gain understanding, confidence, and mastery of the material. Note that the textbook includes an answer section starting on page 661 with even numbered problem solutions. Use Excel, it is the “tool of the trade” and designed to assist you in completing your work. Problems can be solved by hand, but such an approach is both inefficient and increases the potential for errors. Do not fall behind. We cover a great deal of material in this class and each topic builds on earlier work. If you are having trouble, please arrange to see me and/or get tutoring help. You may want to start with a conversation with me so that I can provide guidance on areas to work on. Come to class prepared to discuss problem solutions. We will spend significant time on problems in class and you may be asked to demonstrate a solution. Be prepared. Be sure you know how to solve the problem on your own. Students tend to gravitate toward solving problems together. I encourage discussion and working together. However, your classmates will not be able to help you at the white board or on quizzes/exams. Ask questions. I cannot help you if I do not know where you are having difficulties. The chances are good that if you have a question so will someone else. So stick your hand up. Also, please feel free to see me before or after class or schedule time during office hours. I am also frequently on campus beyond office hours. In summary, students who have trouble in this class frequently have not committed the requisite time to study, have not adequately practiced solving problems, and/or have fallen behind in submitting assigned work. Focus on these three areas and you will increase the probability of positive performance in this course. While this is a serious subject, we should also have some fun along the way. Best of luck this semester! DMB 1/4/21 8 BUS1502A – Business Statistics Spring Semester 2021 Tentative Course Schedule (DRAFT subject to change): Day Day 1 Date 1/18 Day 2 1/20 Day 3 1/25 Day 4 1/27 Day 5 2/1 Day 6 2/3 Day 7 2/8 Day 8 2/10 DMB 1/4/21 Coursework Reading: Please read the Syllabus posted on Moodle “First Things First” and Ch. 1 in Levine et al Activity: Submit bio to welcome link on Moodle. Complete problems: 1.8 and 1.9 for class discussion. Complete Discussion Forum #1 posted on Moodle per instructions in syllabus: Problem 1.45, p. 27. Reading: Read Ch. 2 sections plus Excel Guide Complete problems 2.4, 2.8, 2.9, 2.15, 2.58, and 2.60 for class discussion. Reading: Read Ch. 3 sections Activity: Complete problems: 3.10, 3.12, 3.18, 3.43, and 3.48 for class discussion. Reading: Read Ch. 4 sections 1 and 2 and posted online chapters 4.4 and 4.5 (on Moodle). Activity: Quiz #1 Complete problems: 4.6, 4.8, 4.14, 4.22, 4.24, and 4.28 for class discussion Reading: Read Ch. 5 sections 1 Activity: Complete problems: 5.2 and 5.6 for class discussion. Complete Discussion Forum #2 posted on Moodle. Reading: Read Chapter 5 sections 2 and 3. Activity: Quiz #2 Complete problems 5.12, 5.14, 5.16, 5.22, 5.24, and 5.26 for class discussion. Reading: Read Ch. 6 sections 1 and 2. Activity: Complete problems 6.8, 6.10, and 6.12 for class discussion. Complete Discussion Forum #3 posted on Moodle. Reading: Review Chapter 7 sections 1 and 2 Activity: Quiz #3 Complete problems 7.4 (a only), 7.6, and 7.8 for class discussion. 9 BUS1502A – Business Statistics Day 9 2/15 Day 10 2/17 Day 11 2/22 Day 12 2/24 Day 13 3/1 Day 14 3/3 Day 15 3/8 Day 16 3/10 Day 17 3/15 DMB 1/4/21 Spring Semester 2021 Reading: Read Chapter 7 section 3. Activity: Complete problems 7.14, 7.16, and 7.18 for class discussion. Reading: None. Activity: Exam #1 covering Chapters 1 through 7. Reading: Read Ch. 8 sections 1 and 2. Activity: Complete problems 8.9, 8.10, 8.16, 8.18, and 8.22 for class discussion. Reading: Read Ch. 8 sections 3 and 4. Activity: Quiz # 4. Complete problems 8.28, 8.30, 8.32, 8.38, 8.40, and 8.44 for class discussion. Reading: Read Ch. 9 sections 1 through 3. Activity: Complete problems 9.2, 9.4, 9.14, and 9.16, 9.24, 9.28, 9.30, 9.46, and 9.48 for class discussion. Complete Discussion Forum #4 posted on Moodle. Reading: Read Ch. 9 sections 4 and 5. Activity: Quiz # 5. Complete problems 9.50, 9.56, 9.58, and 9.60 for class discussion. Reading: Read Ch. 10 sections 1 and 2 Activity: Complete problems 10.8, 10.12, 10.14, 10.20, and 10.22 for class discussion. Complete Discussion Forum #5 posted on Moodle. Reading: Read Ch. 10 sections 3 and 4 Activity: Quiz # 6. Complete problems 10.30, 10.32, 10.32, 10.46, and 10.48 for class discussion. Reading: Read Ch. 11 section 1. Activity: Complete Discussion Forum #6 posted on Moodle. 10 BUS1502A – Business Statistics Day 18 3/17 Day 19 3/22 Day 20 3/24 Day 21 3/29 Day 22 3/31 Day 23 4/5 Day 24 4/7 Day 25 4/12 Day 26 4/14 DMB 1/4/21 Spring Semester 2021 Complete problems 11.5, 11.6, 11.8, and 11.10 for class discussion. Reading: Review Ch. 11 section 2. Activity: Quiz # 7. Complete problems 11.20, 11.21, 11.22, and 11.24 for class discussion. Reading: Review Ch. 12 sections 1 – 2. Activity: Complete problems 12.6, 12.8, 12.10, 12.16, 12.18 for class discussion. Complete Discussion Forum #7 posted on Moodle. Reading: Read Ch. 12 section 3. Activity: Quiz # 8. Complete problems 12.22 and 12.25 for class discussion. Reading: None. Activity: Exam #2 covering chapters 8 through 12. Reading: Read Ch. 13 section 1 and 2. Activity: Complete problems 13.1, 13.2, 13.6, and 13.8 for class discussion. Try completing 13.6 and 13.8 long-hand as well as in Excel. Reading: Read Ch. 13 sections 4 and 5 and 7 through 9. Activity: Complete Discussion Forum #8 posted on Moodle. Complete problems 13.16, 13.18, 13.20, 13.26, 13.28, 13.30, 13.58, 13.60, and 13.62 for class discussion. Reading: Read Ch. 14 sections 1 and 2 Activity: Quiz #9 Complete problems 14.4, 14.6, 14.8, 14.14, and 14.16 for class discussion. Reading: Review Ch. 15 section 4. Activity: Complete Discussion Forum #9 posted on Moodle. Complete problems 15.22, 15.23, 15.24, and 15.25 for class discussion. Reading: Read Ch. 16 sections 1 through 4 (to p. 564). 11 BUS1502A – Business Statistics Day 27 4/19 Day 28 4/21 Day 29 4/26 Day 30 4/28 DMB 1/4/21 Spring Semester 2021 Activity: Submit Personal Paper (syllabus p. 7) to Turnitin link on Moodle before class. Complete problems 16.4, 16.6, 16.8, 16.12, and 16.16 for class discussion. Reading: Read Ch. 16 sections 6 and 7. Activity: Quiz # 10. Complete problems 16.34, 16.26, 16.38, and 16.44 for class discussion. Reading: Read Ch. 17 sections 1 and 2. Activity: Reading: Read Ch. 17 sections 3 through 5 Activity: Complete problems 17.6 and 17.8 for class discussion. Reading: None. Activity: Exam #3 covering Chapters 13 through 17. 12 BUS1502A – Business Statistics Spring Semester 2021 Rubric for Personal Report Assignment Assessment Area Does Not Meet Expectations Meets Expectations 0 1 2 Data not identified or mis defined. 3 4 Appropriate data are somewhat identified and interpreted. Some discussion of usage. 5 Appropriate data are properly identified and interpreted and specific usage is detailed. Business conclusions and recommandations developed with data (25 points) The report demonstrates minimal or incorrect research and analysis and/or lacks support. Conclusions and recommendations are partially based upon facts and analysis but some of the logic or support is missing Clear conclusions and implications are developed from the research and analysis. Findings are logical and factbased. Graphics and data tables support/clarify analysis and properly labeled and introduced (10 points) Tables are either missing or unclear. Tables are not effectively introduced and lack proper labeling. Text lacks effective supporting analytic graphics. Tables are somewhat clear and informative but require additional explanation for clarity. Tables are generally properly labeled and introduced/referenced in the report. In-text graphics somewhat balanced with effective use of appendices. Appropriate tables are intuitive and informative. All tables are properly labeled and introduced/referenced in the report. In-text graphics balanced with effective use of appendices. The paper does not provide a summary and conclusion about the role of data analytics and/or does not provide support and references. Report is distractingly messy, too busy or poorly designed. Report requires significant revision to be presentation ready. The paper provides a partial summary and conclusion about the role of data analytics and/or provides some support and references. The report is attractive in terms of design, layout and neatness but requires additional work to be presentation ready. The report meets minimum standards expected: - Grammar - Spelling - Citations - Reference page The paper provides a solid summary and conclusion about the role of data and strong support and references. Statistical data and methods identified and defined appropriately (25 points) (IF USED) Conclusion and summary (10 points) Presentation (10 points) Writing (20 points) Total Team Score DMB 1/4/21 The report does not meet minimum standards expected: - Grammar - Spelling - Citations - Reference page Exceeds Expectations Points Awarded The report is exceptionally attractive in terms of design, layout and neatness. Product is presentation ready. The report meets all standards expected: - Grammar - Spelling - Citations - Reference page Maximum Total: 100 points 13