SCHOOL OF BUSINESS AND MANAGEMENT
BUSI 311 Quantitative Analysis for Management
Dr. Roger Conover
Fall 2015, 12:50 TTh
3 units
INSTRUCTOR INFORMATION:
Syllabus # _______
Dr. Roger B. Conover
Office Hours: Monday 9 – 10:30; Tuesday 2:30 – 4; Wednesday 12:00 – 2:00, and by appt.
Office location: Wilden Hall, Room 219
Email: rconover@apu.edu
Phone: 626-815-3823
APU MISSION AND PURPOSE STATEMENT:
“Azusa Pacific University is an evangelical Christian community of disciples and scholars who
seek to advance the work of God in the world through academic excellence in liberal arts and
professional programs of higher education that encourage students to develop a Christian
perspective of truth and life.”
SBM MISSION AND PURPOSE STATEMENT:
“We are a Christ-centered community of scholars and professionals pursuing academic
excellence to advance the work of God in the world, developing students of character and
competence as difference-makers in business and society”
AACSB ASSURANCE OF LEARNING GOALS AND OBJECTIVES:
Competent Business Knowledge
Students will be able to demonstrate knowledge in multiple business disciplines, including
management, finance, marketing, accounting and economics.
Critical Thinking Ability
Students will be able to identify and solve business problems using analytical and critical thinking
skills.
Christian Business Ethics
Students will be able to demonstrate the ability to evaluate business decisions based on a
Christian perspective.
Capable Communication Skills
Students will be able to convey ideas clearly through professional written communication.
Students will be able to express ideas effectively through professional oral presentations.
Collaborative Teamwork Ability
Students will be able to demonstrate the ability to function as an effective business team
member.
Comprehensive Global Awareness
Students will be able to identify cultural, economic and political aspects of business in a global
environment.
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COURSE INFORMATION:
University Catalog Course Description:
This course equips students with analytical and mathematical models for business decision
making. Included are statistical analysis, project management, simulation, and linear
programming. Prerequisite: B or higher in MATH 110
Instructor’s Perspective:
This course presents students with mathematical tools useful for business decision-making.
Management tools such as linear programming, project management techniques and decision
analysis tools will be developed. The course will use a textbook, lectures and discussions.
Student evaluation will be based on problem sets, periodic exams and a comprehensive final
exam.
This is a course about how to make good decisions. "Quantitative" means that most of the
decisions that we will look at have numbers associated with them (an inescapable result of the
fact that business decisions are usually associated with issues of goods and money). "Analysis"
means that we will not be satisfied until we have developed a well-structured way of thinking
about the issues. In the complex world of modern business, the failure to think clearly about the
problems that you encounter will have serious consequences for your ability to accomplish your
business goals.
COURSE CREDIT DESCRIPTION:
Following the APU Credit Hour policy, to meet the identified student learning outcomes of this
course, the expectations are that this 3-unit course, delivered over a 15-week term will
approximate:
3
0
0
0
0
hours / week classroom or direct faculty instruction
hours / week internship
hours / week online work
hours / week research
hours / week other academic work
In addition, out-of-class student work is expected to require a minimum of 6 hours each week.
REQUIRED TEXTBOOK AND STUDY RESOURCES:
Quantitative Analysis, Azusa Pacific University, Render, Stair, Hanna, and Hale (Pearson, 2015),
Compiled by R. Conover.
Copyright Responsibilities:
Students and faculty are both authors and users of copyrighted materials. As a student you must know
the rights of both authors and users with respect to copyrighted works to ensure compliance. It is equally
important to be knowledgeable about legally permitted uses of copyrighted materials. Information about
copyright compliance, fair use and websites for downloading information legally can be found at
http://apu.libguides.com/content.php?pid=241554&search_terms=copyright
STUDENT LEARNING OUTCOMES:
By the end of this course, students should be able to demonstrate mastery of the following learning
outcomes. The classroom assignments that the instructor will use to assess mastery are identified in the
following table.
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STUDENT LEARNING OUTCOME
AACSB LEARNING
GOAL
ASSIGNMENTS USED TO
ASSESS
Know what analytical thinking is and why analytical
thinking is important for business decision-making;
know how to apply analytical thinking to a variety of
business problems.
Know how to use Excel (or other spreadsheet
software) to help organize information and solve
analytical problems that arise in a variety of business
situations. This includes being able to build their own
spreadsheets to solve problems using moderately
sophisticated mathematical functions included in
Excel and being able to correctly interpret the
resulting output.
Be able to identify maximization and minimization
problems in business, to extract the relevant data
from the business situation and to formulate a Linear
Programming (LP) problem that will help them solve
the problem. Students should be able to correctly
solve basic LP problems by hand and be able to
correctly formulate the Excel spreadsheet to solve
larger LP problems. Students should also be able to
correctly interpret the output generated by Excel for
application to their business problem.
Be able to identify problems in business which consist
of a sequence of interrelated elements or activities
(“projects”). Using the tools of PERT / CPM, students
should be able to clearly identify the objective,
organize the project to best meet the objective and
manage the elements of a project throughout its
duration. Students should be able to correctly solve
basic PERT/CPM problems by hand and be able to
correctly formulate the Excel spreadsheet to solve
larger PERT/CPM problems. Students should also be
able to correctly interpret the output generated by
Excel for application to their business problem.
Be able to distinguish between risk and uncertainty.
Students should be able to extract the relevant data
from the business situation and to use the tools of
decision analysis (including expected returns, risk
aversion and decision trees) to help make good
decisions in the face of risk or uncertainty. Students
should be able to correctly solve basic decision
problems by hand and be able to correctly formulate
the Excel spreadsheet to solve larger decision
problems. Students should also be able to correctly
interpret the output generated by Excel for application
to their business problems.
For each of the above analytical tools, be able to
correctly apply sensitivity analysis to the solutions that
they obtain. They should be able to identify which
elements of their business problems, if changed, may
significantly affect their decisions and which elements
may not. They should also be able to correctly identify
situations in which they need and should acquire
further information before making a decision.
Identify and resolve potential ethical issues in the
design and use of business analytics based on a
Christian value system.
Competent Business
Knowledge; Critical
Thinking Ability
Homework #1; Exam #1
Homework #2;
Homework #3; Exam #2
Homework #4; Final Exam
Competent Business
Knowledge; Critical
Thinking Ability
Homework #2;
Homework #3; Exam #2
Homework #4; Final Exam
Competent Business
Knowledge; Critical
Thinking Ability
Homework #2;
Homework #3; Exam #2
Final Exam
Competent Business
Knowledge; Critical
Thinking Ability
Homework #4; Final Exam
Competent Business
Knowledge; Critical
Thinking Ability
Homework #1; Final Exam
Competent Business
Knowledge; Critical
Thinking Ability
Homework #1; Exam #1
Homework #2;
Homework #3; Exam #2
Homework #4; Final Exam
Christian Business
Ethics
Exam #1; Exam #2;
Final Exam
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COURSE CALENDAR/SCHEDULE:
WEEK
9/10
TOPIC
HAVE READ
INTRODUCTION- Models, Excel,
Probability
1, 2
15
Decision Analysis
Certainty, Risk
3
22
Decision Analysis
Decision Trees
---
Review homework for Ch 1-3
Test #1
--- 9/29 HW Ch1 - 3 due
Chapters 1-3
Linear Programming
4
13
LP Graphing and Sensitivity Analysis
---
20
Review homework for Ch 4
Applications of Linear Programming
--- 10/20 HW Ch 4 due
5
27
Excel Solutions to LP Problems
Sensitivity Analysis in LP with Excel
-----
Review homework for Ch 5
Test #2
--- 11/3HW Ch 5 due
Chapters 4 – 5
10
Project Management: PERT / CPM
6
17
Project Management: PERT / CPM
Variable Project times
---
24
PERT / CPM: Crashing
Thanksgiving
---
PERT Cost
---
Review homework for Ch 6
Comprehensive Review
-----
29
10/1
6
11/3
5
12/1
8
12/7 HW Ch 6 due
FINAL EXAM: PLEASE CHECK THE FINAL EXAM SCHEDULE FOR TIME.
ASSIGNMENTS:
Problem Sets
Practicing by solving problems is ABSOLUTELY ESSENTIAL to learning mathematical techniques.
The following is a list of problems from the end of the chapters that we will cover. I would suggest
this list represents the minimum required for a basic understanding of the material. I expect that you
will need to work more problems than just these. I cannot stress enough the importance of working
these and other problems from the chapters!
Homework problem sets are assigned below and are due before class starts on the days indicated.
For each problem set, you will be assigned to a group according to the syllabus number on the first
4
page of this syllabus. Each GROUP will turn in one problem set with the names of all group
members on it (hand in the original, not a photocopy). Essay explanations should be typed, but you
do not need to type the math if you write neatly. On the days that problem sets are due, the answers
will be reviewed immediately, so no late papers will be accepted. Make a copy of your problem set
for each group member so that everyone can look over your answers in class. Each member is
responsible for making sure that the original copy of the assignment is turned in on time. If you
delegate that task, you are still responsible for it.
Each INDIVIDUAL will submit a team evaluation form at the beginning of class on the day the
problem set is due. The evaluation of your performance as a team member will count toward your
final course grade. Your failure to submit an evaluation form before class starts on the day the set is
due will cause you to lose 10 points. No late evaluations will be accepted.
Problem set #1 (50 pts)
Chapter 1- Introduction: 16, 17, 24, 25.
Chapter 2- Probability: 15, 18, 20, 32, 38, 46.
Chapter 3- Decision Theory: 20, 21, 29, 44, 45, 51.
Problem set #2 (30 pts)
Chapter 4- Linear Programming
14, 25, 26, (set up each problem algebraically and solve graphically);
31, 35 (a-d), (solve graphically);
41, 42, 45 (set up each problem algebraically and solve with Excel)
Problem set #3 (30 pts)
Chapter 5- LP Applications: Set up each problem algebraically and solve using Excel:
3, 12, 15, 16, 17, 23.
Problem set #4 (50 pts)
Chapter 6- PERT (be sure to clearly draw the relevant network diagrams):
16, 17 (set up and solve using Excel), 18, 22 (set up an Excel spreadsheet), 28, 30, 31,
33, 34 (assume the times given in 34 are certain)
Note: Course schedule, topics, evaluation, and assignments may be changed at the instructor’s
discretion.
INFORMATION LITERACY AND USE OF THE LIBRARY:
Information literacy is defined as “a set of abilities requiring individuals to recognize when information is
needed and have the ability to locate, evaluate, and use effectively the needed information” (American
Library Association, 1989). In this course, teaching and learning processes will employ the following
information literacy standards, as endorsed by the American Association for Higher Education (1999), the
Association of College and Research Libraries (2000), and the Council of Independent Colleges (2004).
The students in this course will:

determine the nature and extent of the information needed.

access needed information effectively and efficiently.

evaluate information and its sources critically and incorporates selected information into
his or her knowledge base and value system.

individually or as a member of a group, use information effectively to accomplish a specific
purpose.

understand many of the economic, legal, and social issues surrounding the use of
information and accesses and uses information ethically and legally.
Library resources, such as alternative texts and books that focus on specific mathematical techniques
covered, may provide students with additional insights and supplementary material for this course.
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GRADE DETERMINATION:
There are 500 points possible in the course:
Problem Sets
Team Evaluations (4 x 10)
Tests (2 x 100)
Final (comprehensive)
160
40
200
100
(90/80/70 scale)
(90/80/70 scale)
(Scales TBA)
(Scale TBA)
Grading Scale: Since the Instructor constructs the exams just before each test, it is impossible to fairly
assess the difficulty of the exam before it is written (some exams may be more difficult than others
depending on the questions the instructor asks). Thus a predefined final grading scale would be
inappropriate for the exams in this course.
The Instructor will set a scale for each test after it is constructed and will announce it in class when the
exams are returned. Students will be able to know immediately their grade on the exam and their overall
progress in the course. If at any time the student is unsure of their progress, they are invited to ask the
Instructor.
Grading Criteria for Assignments and Final Grade:
GRADE
A
B
C
D
F
CRITERIA
Superior knowledge regarding details, assumptions, implications of Quantitative Analysis;
superior thinking with information relevant to application, critique, and relationship to other
information.
More than adequate knowledge regarding technical terms, distinctions; possesses an ability
to use information; demonstrates ability to think clearly about the information and its
relationship to other information
Basic knowledge needed to function and carry on learning regarding major principles,
central terms, major figures; also possesses an awareness of field.
Serious gaps in knowledge, confusion of concepts and categories, inability to recall basic
information.
Absence of knowledge, incapable of carrying on a conversation about the subject,
misunderstands most concepts, confuses all categories.
COURSE POLICIES:
Attendance Policy:
Students are expected to attend every class, and attendance will be taken. Students who arrive after
class has begun will be counted as absent. Points will be deducted from a student’s final score
according to the following schedule:
0 to 2 = 0; 3 or more = 20 points each.
Students who are late or absent because of an approved university event must inform the instructor
prior to such an event. While students are still responsible for assignments due and material presented
on such days, this absence will not be counted against their total.
Exams:
The tests will be one class period each. The final will be comprehensive, though slightly weighted
toward the material from the last part of the course. The tests and the final will consist of a combination
of objective/short answer problems, multiple choice problems, Excel spreadsheet design problems and
calculation problems. No notes or study aids (including the papers of other students) may be used on
the exams. Basic-function calculators are permitted. Programmable or graphing calculators, cellphones, etc. are not permitted on exams.
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There will be no make-up exams. With prior approval of a valid, documented excuse, the percentage
that you receive on the final will be assigned as your score on the missed test. There is no provision
for missing more than one test, and you must take the final. In particular, computer hardware or
software failures and flight departure times are not valid excuses for late homework or missing class or
exams. Back up your work regularly, and do not schedule your flight out of town for a date before the
final exam period.
Academic Integrity:
The mission of Azusa Pacific University includes cultivating in each student not only the academic skills
that are required for a university degree, but also the characteristics of academic integrity that are integral
to a sound Christian education. It is therefore part of the mission of the university to nurture in each
student a sense of moral responsibility consistent with the biblical teachings of honesty and
accountability. Furthermore, a breach of academic integrity is viewed not merely as a private matter
between the student and an instructor but rather as an act which is fundamentally inconsistent with the
purpose and mission of the entire university. A complete copy of the Academic Integrity Policy is
available in the Office of Student Life, the Office of the Vice Provost for Undergraduate Programs, and
online.
Any work throughout the course that appears to have been copied from another source violates the
standard of academic integrity. You may not give or receive assistance on exams except from the course
professor. You may only work together on homework sets in the manner described above- no copying of
work is permitted, either from other groups or from former students.
If homework or exam papers do appear to be copied, or other cheating occurs, all students in the group
or groups involved will receive zero points for that assignment. Multiple violations will result in all students
involved being assigned a grade of “F” for the course. Signing a role sheet for another student is
considered forgery and will result in being assigned a grade of “F” for the course. Any other acts of
academic dishonesty will be dealt with in a similar manner. In any case of a suspected violation of the
standards of academic integrity, the incident will be reported to the Vice Provost’s office and further steps
may be taken in accordance with the Academic Integrity Policy of the University.
University or Department Policies
All university and departmental policies affecting student work, appeals, and grievances, as outlined in
the Undergraduate Catalog and/or Department Handbook will apply, unless otherwise indicated in this
syllabus.
Support Services
Students in this course who have a disability that might prevent them from fully demonstrating their
abilities should contact an advisor in the Learning Enrichment Center (ext. 3849) as soon as possible to
initiate disability verification and discuss accommodations that may be necessary to ensure full
participation in the successful completion of course requirements.
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Quantitative Analysis
Team Member Evaluation Form
Problem Set # ______________
Your name ________________________ Your Syllabus Number # _________
For each problem set, you must COPY this form, complete it fully and submit it
INDIVIDUALLY to my box in the Undergraduate Office of the School of Business
(Wilden 203) before the beginning of class on the day the problem set is due. Failure to
do so will cause 10 points to be deducted from your course points. Late arrival to class
because you were turning this in is NOT excusable.
Rank your fellow team members in the following categories (5 for most applicable to 0
for least applicable). HOWEVER, for each question, you may assign each score only
once. For example, you may place at most only one “5” in each row. If you duplicate a
score in a row, you will lose two points for each time that it happens.
Team Member Full Name:
Member clearly had read the
chapter before attending group
meeting
Member understands this
material better than I do
Member failed to contribute to
discussion of problems
Member participated in solving
problems
Member did not assist others to
understand problems and
solutions
Member was focused on grades
rather than on understanding
Member contributed more to
the solutions than I did
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TEAM ASSIGNMENTS
1
Assignment # 1
Group # 1
2
3
4
1
Assignment # 2
Group # 1
7
13
19
5
6
Group # 2
7
8
2
8
Group # 2
14
20
9
10
Group # 3
11
12
3
9
Group # 3
15
17
13
14
Group # 4
15
16
4
10
Group # 4
16
12
17
18
Group # 5
19
20
5
11
Group # 5
6
18
1
Assignment # 3
Group # 1
8
15
18
1
Assignment # 4
Group # 1
7
14
17
2
9
Group # 2
16
19
2
5
Group # 2
8
11
3
10
Group # 3
17
11
3
6
Group # 3
10
18
4
11
Group # 4
5
14
13
15
Group # 4
19
12
6
12
Group # 5
13
20
4
9
Group # 5
16
20
9