QUME 232 - Vancouver Island University

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Vancouver Island University
Faculty of Management, Business ~~ www.viu.ca/management/
Qume 232 – Business Statistics – Fall 2012
Faculty
Office
E-mail
Telephone
Website
Office Hours
Prerequisite
Judy Palm
Building 250, Room 423
[email protected]
250-753-3245 local 2693
http://web.viu.ca/jpalm
Monday, Wednesday 14:30 - 16:00, Thursday 11:30 - 12:30
Students are also welcome to make an appointment at a time of mutual convenience.
Min. "C" in one of Principles of Math 12, Applications of Math 12, Foundations of Math 12,
or Math 151.
Text
Lind, Marchal, Wathen, Waite, Basic Statistics for Business and Economics, 4th Canadian Edition
Central Objective
The course will acquaint the student with statistical techniques which can be applied to problem
solving in business and economics. The mathematical basis for these techniques will be
presented. Statistical tools offered by the EXCEL spreadsheet program will be introduced.
Specific Objectives
After the student has completed the course, he/she will be able to do the following:
1. Define the difference between descriptive and inferential statistics.
2. Describe data using frequency distributions and graphic presentations.
3. Understand and use summation notation.
4. Calculate measures of central tendency and measures of dispersion.
5. Define the following concepts related to probability theory:
a) experiment, event, outcome, sample space
b) classical vs. empirical probabilities
c) mutually exclusive and exhaustive events
d) objective and subjective probabilities
e) probability distribution
f) marginal, conditional, and complementary probabilities
g) statistically independent and statistically dependent events
h) joint probabilities
i) Bayes’ Theorem
6. Determine the number of permutations and combinations.
7. Carry out calculations involving discrete random variables:
a) probability mass function
b) cumulative mass function
c) expected value, variance, and standard deviation of a random variable
d) bivariate probability distribution
8. Calculate binomial probabilities and the mean and variance of the binomial distribution.
9. Use the Poisson and hypergeometric distributions.
10. Define a continuous probability distribution.
11. Use the normal distribution to calculate probabilities and approximate binomial
probabilities.
12. Define the difference between probabilistic and nonprobabilistic sampling.
13. Define the difference between a population and sample.
14. Define the difference between sampling and nonsampling errors.
15. Understand how random numbers can be used to generate random samples.
16. Understand the difference between sample statistics and population parameters.
17. Explain what is meant by the sampling distribution of the sample mean.
18. Calculate the mean and variance for the sampling distribution of the sample mean.
19. Explain the role of the Central Limit Theorem in sampling theory.
20.
21.
22.
23.
24.
25.
26.
27.
28.
Assigned Readings
Apply the finite population correction factor when appropriate.
Calculate sample size.
Explain why the sample mean is an unbiased estimator.
Set up and interpret interval estimates for the population mean and the population
proportion using different confidence levels.
Use the t-distribution for problems involving small sample sizes.
Perform tests of hypotheses for the population mean and population proportion.
Understand the terminology of hypothesis testing:
a) Type I and Type II errors
b) One-sided and two-sided tests
c) z-values and p-values
d) Null and Alternative hypotheses
e) Two-sample tests
Describe the relationship between two variables using linear regression.
Interpret the coefficient of correlation.
Assigned readings from the text are indicated for each block. The test times are only
approximate. The actual dates for the exams will be set as the course progresses. It is the
student’s responsibility to come to class to find out the date each test will be given and the
material that will be covered on the test. If you have to be away from class, keep in touch by
email or the telephone voice messaging service.
WEEK
1
2
3
4
12
Discrete random variables and the binomial
distribution
Test #1
Poisson and hypergeometric distributions
Continuous probability distributions and the normal
distribution
Normal approximation to the binomial
Sampling, sampling distributions, and the Central
Limit Theorem
Test #2
Estimation and confidence intervals
Hypothesis Testing
Test #3
Two-sample tests
Linear Regression and Correlation
13
Test #4
5
6
7
8
9
10
11
Grading Method
TOPICS
Descriptive statistics
Introduction to probability
Counting numbers and Bayes’ Theorem
READING
Chapters 1,2, 3
Chapter 4
Chapter 4, pp. 114-118,
Handouts
Chapter 5, pp. 141-158
Chapter 5, pp. 158-165
Chapter 6
Chapter 6, pp. 192-196
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11, pp.328-333
Chapter 12, pp. 354-361,
pp. 372-377
Four exams will be given and exam scores will be weighted as follows.
Test #1
30%
Test #2
30%
Test #3
30%
Test #4
10%
No make-ups will be allowed except in the case of EXTREME PERSONAL EMERGENCY as
evidenced by a doctor’s certificate or other appropriate certificate. No excuse will be accepted
if you have already written the exam. Upon presentation of appropriate documentation, you
can make up the exam. If an emergency does occur, please phone in on the day of the exam to
notify me of your absence. There is a voice messaging system for saving messages. My phone
number at Vancouver Island University is 250-753-3245-2693. It is the student’s responsibility
to contact me as soon as he/she arrives back at the college so that a make-up exam can be
written immediately upon return. A make-up exam may be different than the in-class test
given on the exam date. The student should be prepared to write the make-up exam as soon as
he/she returns to class.
Partial credit will be assigned for correct logic in solving problems, therefore show all work in
solving problems found on the exams. Using correct logic is important. If you use incorrect logic
in solving a problem, you will not get full credit for the problem. It is not sufficient to put down
just a single number to get credit.
Completion of assigned homework will help prepare the student for exams. Discussion on
homework assignments will be expected in class.
Grading Scale
Grades will be assigned according to the following scale.
A+
90 – 100%
C+
64 - 67
A
85 – 89
C
60 - 63
A80 – 84
C55 - 59
B+
76 – 79
D
50 - 54
B
72 – 75
F
< 50
B68 – 71
Academic Misconduct Academic misconduct includes, but is not limited to, giving and receiving information during any
test or exam, using unauthorized sources of information during any test; plagiarizing;
fabrication, cheating, and misrepresenting the work of another person as your own, facilitation
of academic misconduct, and under certain conditions, non-attendance. Plagiarism will not be
tolerated. You must reference your work and acknowledge sources with in-text citations and a
complete list of references. This includes direct and indirect quotes, diagrams, charts, figures,
pictures and written material.
For group projects, the responsibility for academic integrity, which can result in academic
misconduct and its resulting penalties, rests with each person in the group and sanctions would
be borne by each member.
No electronic dictionaries, cell phones or other electronic devices will be allowed in exams/
tests/quizzes. Only the following approved calculators may be used in exams/tests/quizzes. No
other materials will be allowed on the desktop apart from a pen/pencil unless specifically
approved by the faculty member. Texas Instrument BAII Plus, BAII, BA35; Sharp EL-733A;
Hewlett Packard 10 B
English Standards
Assignments must be free of spelling, punctuation, and grammatical errors. Assignments
containing such errors will be penalized (i.e. mark deductions). Proper English is expected on
exams.
Referencing
The Faculty of Business requires the Harvard style of referencing for academic papers. Please
see Quote, Unquote Referencing, and a Speedy Guide to Harvard Referencing at
http://www.viu.ca/business/resources.asp.
Accommodation
Students with documented disabilities requiring academic and or exam accommodation should
contact Disability Services on the second floor of Building 200.
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