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COURSE SYLLABUS
ECO 252 - QUANTITATIVE BUSINESS ANALYSIS II
Fall 2005
INSTRUCTOR:
Dr. Roger Even Bove
OFFICE:
Anderson Hall, Room 317d
MAILING ADDRESS: Department of Economics & Finance
West Chester University
West Chester, PA 19383 - 2220
TELEPHONE:
610-436-2134
E-MAIL ADDRESS:
rbove@wcupa.edu
WEBSITE:
http://courses.wcupa.edu/rbove/eco252/252key.html
Check this at least once a week for exam hours, problem solutions, changes in
office hours, etc. This site is also accessible through Blackboard.
PREREQUISITES:
MAT107, ECO111, ECO112, and ECO251 or MAT121 or the equivalent. You
will be expected to compute sample variances and use a Normal table from the
second meeting of the course. To be successful in this course, Students must be
able to manipulate data and formulas using a spreadsheet package such as
Excel. To gain the required spreadsheet skills, students may take CSW101 or
ECO410 - Special Topics – (1 cr.) Using Spreadsheets to Solve Business
Problems. See SKILLS below.
OFFICE HOURS:
These hours frequently conflict with faculty meetings. Check the website before
coming in.
MW
4:00 – 5:30 PM
TR
3:30 – 5:00 PM
F
1:00 – 2:00 PM
I am also usually available after 5:30 PM Monday and Wednesday afternoons
and after 5PM on Tuesday and Thursday afternoons. You are encouraged to
come in at your convenience without appointment (Call in advance to be sure
that I am in). If you don't understand what is going on in class, please come to my
office
REQUIRED TEXTS:
Berenson, Mark L., David M. Levine and Timothy C. Krehbiel. Basic Business
Statistics, 10th ed. Prentice-Hall, 2005. ISBN 0131852051 (or 9th ed., Prentice-Hall,
2004. ISBN 0131037919). This is available as ISBN 013237114-6 or 013173480-6 (I’m
not sure which!)packaged with the following items:
Student Solutions Manual..
Research Navigator..
Dretzke, Statistics with Excel. 2nd ed..
I will update this when I have new information. Purchase of the package is
strongly recommended.
Supplementary Materials & Tables For ECO 251 & 252. Available from
Dynamic Student Services, 20 Linden St. for about $5.00. Buy this!!!!!!
Douglas Downing and Jeffrey Clark, Business Statistics, 3rd ed. [or 4th ed.] ,
Barrons Educational Series, 1997. (D and C in outline.) Tell me if a new edition
appears!!!
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RECOMMENDED TEXTS:
Ryan, Joiner and Ryan, Minitab Handbook, 3rd. ed., Duxbury Press, Boston,
1994.
Larry Gonick and Woolcott Smith, The Cartoon Guide to Statistics, Harper
Collins, 1993 (can be ordered from book or comics stores).
These will be on reserve in the library.
ALSO SUGGESTED:
There are a number of statistics and other economics books available for $2 in
the Economics Department offices.
COURSE DESCRIPTION:
This course teaches students how to develop testable hypotheses and use
hypothesis testing to analyze data and answer questions. This course also
covers confidence intervals, analysis of variance, simple regression, multiple
regression, and correlation. The course will stress practical business
applications of statistical theory. Students will be required to perform
regression and an analysis of variance using Excel and another statistical
package (Minitab) and interpret the results.
COURSE OBJECTIVES:
Learning Objectives of the course:
1. To review normal sampling distributions and learn estimation using
confidence intervals. This includes sampling distribution of the mean,
proportion and standard errors, and confidence intervals for the mean with
known and unknown population standard deviation.
2. To learn how to develop testable hypotheses.
3. To learn how to test hypotheses about a population mean or population
proportion for both small samples and large samples. Students will also learn
how to test hypotheses about a population variance. Both Type I and Type II
errors will be discussed.
4. To learn how to test hypotheses about two sample means or proportions.
Students will also learn how to determine an adequate sample size and how to
compare two population variances.
5. To learn how to build a multiple regression model and how to test the model
using Excel and another spreadsheet package. Students will learn how to
interpret the results of simple and multiple linear regressions. Discussion will
include model assumptions, collinearity, and dummy variables.
6. To learn how to design an experiment and use ANOVA to test multiple
sample means.
7. To learn to use the chi-square test to analyze contingency.
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COURSE REQUIREMENTS:
This course requires you to solve problems in homework and tests. Very little
learning occurs by just listening in class or reading the text. It is suggested that
you get into the problem-solving habit. If you have difficulty with a problem,
ask for an explanation. You will help yourself, promote classroom discussion,
and probably help fellow students in the process. You will also be assigned
several computer problems. Get the help you need on these. Their solutions
and their interpretation will be part of exams. If you fail to hand them in or
don't bother to find out what they mean, the instructor will consider himself
apprised of your lack of interest in passing this course. There will also be graded
assignments. These are not to be considered optional, but are graded so that they
cannot hurt your grade and may help it.
SKILLS:
This course includes four skills important for business students: critical thinking,
quantitative methods, use of appropriate technology and written communication.
In addition to the prerequisites above you are expected to be able to
express yourself in writing. All e-mails to the instructor should be in
grammatically correct but not terribly formal English with the spelling
checked! On exams and other assignments you are expected to turn in legible
and clear papers. You will be given an exercise in Excel in the first few
weeks of the class. Assistance will be available, but you will be expected to
do the work on your own.
EQUIPMENT etc.:
Get a decent calculator and read the instruction book! If you need
advice on what to get, ask a Finance instructor. Then get another
calculator as a backup! If both fail you during an exam, talk to the
instructor then, not after you do badly on the exam. Buy a stapler; it will pay for
itself in papers not lost.
Make sure that you have access to a copy of Excel with statistical functions
enabled. To enable statistical functions, enter Excel and use the Tools
pull-down menu. Select Add-Ins and check Analysis Tool Pack and MegaStat.
CLASS CANCELLATION:
If the university is not officially closed, assume your class will meet unless
there is a notice on departmental stationary, signed by the chairperson, posted
on the classroom door. If there is any doubt, check with the department
secretary on the third floor.
If I am occasionally very late to class, it would be reasonable to send someone
up to inquire in the department office, rather than to assume that there will be
no class
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EXAMINATION POLICY:
University policy is that there is no excused absence from a scheduled
examination. Therefore, a scheduled and preannounced exam, which is
missed, will not be made up and a grade of F will be recorded, with the
limited exception of cases in which the absence is wholly involuntary and
unavoidable, and the reason for which is documented by evidence, which can
be verified by the instructor. Practically speaking, such cases normally include
only illness attended by physician or nurse, and unavoidable absences on
official University business. Not included would be absences due to
"oversleeping," "not ready for the exam," "other exams the same day," "change
in outside schedule," "job interview," "extra-curricular club or organization
events," "car wouldn't start," etc. If the exam time is merely inconvenient,
students will be given the opportunity to take the exam early. Nevertheless,
please contact the instructor immediately after any missed exam.
Most exams will be open book. Students may bring any material that they wish
to the exam, but experience shows that a concise and well-studied set of notes
and formulas works best, though no formula has any value unless you have
practiced using it and know that you can get the same values as in the problems
and examples done in class. Please DO NOT SHARE MATERIALS during
exams. Though it may be reasonable to discuss questions on take-home exams,
copying will be severely punished.
Exams may be given on Tuesdays and Thursdays in the 3:15- 5:15 slot.
Arrangements will be made for students who cannot take exams during that
hour. Students are normally expected to make up the exam on the day before it
is given. Note: You should not have to cut a class to take one of my exams alternate arrangements can be made!
CUT POLICY:
I will consider your presence and participation when making up grades. Exams
are based on lecture materials and absence is foolhardy. A poor attendance
record will be considered evidence that you do not care about your grade,
and more than three unexcused absences when attendance is taken will
result in a lower grade. Most legitimate excuses are acceptable on a
one-time basis. However, continuous absences due to 'work schedules'
are not! Legitimate excuses are University – Sanctioned events (as
specified in the Ram’s Eye View , illness and family emergencies and do not
include family vacations or hunting trips.
ACADEMIC DISHONESTY:
The business faculty is committed to vigorously enforcing the University’s
academic dishonesty policy. At a minimum, students will receive a 0 in an
assignment; at the maximum, students may be dismissed from the University.
Academic dishonesty and plagiarism are defined in the Undergraduate Catalog.
With respect to term papers, projects, and other written work, students must use
quotation marks and reference when using another author’s exact words.
Students must also reference when paraphrasing an idea or the words of an
author.
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EVALUATION POLICY:
Student progress in this course is determined by three one-hour examinations
(which will be announced at least one week in advance), a final exam, class
participation and homework evaluations. Primary weight is on the hour exams
(2/9 of grade each) and the final exam (1/3 of grade).
Grading will be on a curve based on numerical scores from these exercises and
the performance of previous classes. Hour exams will be returned with answer
keys. Final grades will not be posted and will be sent to you only if you request
them by e-mail. Putting an e-mail address on your exam will not result in a
response. Grades are final unless a legitimate mistake is found. Do nor tell
me that you need a C for this course! I know! If you get a C- or lower
grade, it is because your work deserved a low grade.
ACCOMODATIONS:
We at West Chester University wish to make accommodations for persons with
disabilities. Please make your needs known by contacting me and/or the Office
of Services for Students with Disabilities at ext. 3217. Sufficient notice is
needed in order to make the accommodations possible. The University desires
to comply with the ADA of 1990.
NON-DISCRIMINATION:
(Affirmative Action Policy) West Chester University is committed to
providing leadership in extending equal opportunities to all individuals.
Accordingly, the University will continue to make every effort to provide these
rights to all persons regardless of race, religion, sex, national origin, ancestry,
age, marital status, sexual orientation, disability, or veteran status. This policy
applies to all members of the University community, including students, staff,
and administrators. It also applies to all applicants for admission or
employment and all participants in University-sponsored activities. Any
individual having suggestions, problems, complaints or grievances with regard
to equal opportunity or affirmative action is encouraged to contact the Director
of Social Equity.
The University prohibits discrimination, including sexual harassment, of any
individual based on race, color, national origin, sex, sexual orientation, marital
status, age, religious creed, disability or veteran status.
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COURSE OUTLINE: Berenson et. al. references are all to the 9th or 10th edition . References to other texts in the
package will be posted shortly. References to D&C 3rd are in black, changes in 4th edition are in [brackets].
TOPIC AND CHAPTER
WEEKS BEGINNING
A. Parameter Estimation (Review)
AUG 29
Berenson et. al. Ch. 6, 7, 8 (6.1a and 8.7 are on CD-ROM)
D and C Ch. 10, 11 (pp. 211-219) [235-243], 12
Minitab Ch. 7, 8.1-8.3
B. Hypothesis Testing - 1 Population
Berenson et. al. Ch. 9
Material on variances in syllabus Supplement.
D and C Ch. 13 (pp. 245-258 [whole chapter])
D and C Ch. 17 [18] (Sign Test material)
Minitab Ch. 8.4 - 8.6, 13.1-13.2
SEPT 5
SEPT 12
C. Power Functions and Operating
Characteristics
Berenson et. al. Ch. 9.6 (9.7 on CD-ROM in 9th edition)
SEPT 19
D. Hypothesis Testing - 2 Populations
Berenson et. al. Ch. 10, (also 12.7-12.8 in 10th ed, 12.1
in 9th ed.)
Handout on variances
Minitab Ch. 9, 13.3
D and C Ch. 13 (pp. 259-266) [284-293]
D and C Ch. 17 [18] (Wilcoxon Tests)
SEPT 26
E. Chi Squared Tests
Berenson et. al. Ch. 12.1-12.6, (Ch. 12.2-12.5
and 12.5 on CD-ROM in 9th edition)
Minitab 12
D and C Ch. 13 (pp. 267-275) [all of Ch. 14]
OCT 10
OCT 3
F. Analysis of Variance
OCT 17
Berenson et. al. Ch. 11 (also 12.9-12.10 in 10th ed.)
Minitab Ch. 10, 13.4, 16
D and C Ch. 14 [15], Ch. 17 [18] (Friedman Test, Kruskal-Wallis Test)
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G. Curve Fitting
Berenson et. al. Ch. 13.1, 13.2
Minitab 11.1-11.2
OCT 24
H. Simple Regression
OCT31
I.
NOV 7
Confidence Intervals and Tests for Regression
Berenson et. al. Ch. 13
D and C Ch. 15 [16]
Minitab Ch. 11.3
J. Multiple Regression
Minitab 11.4
Berenson et. al. Ch. 14
D and C Ch. 16 [17]
NOV 14
K. Regression Extensions
Minitab 11.7-11.9, 15
Berenson et. al. Ch. 15
D and C Ch. 15 (pp. 343-346) [Ch 16, pp 374-379]
NOV 21
L. Correlation
NOV 28
Berenson et. al. Ch. 3.5,13.7, 14.5 (3.6, 13.7, 14.5 in 9th ed.)
M. Time Series Analysis
Berenson et. al. Ch. 16
D and C Ch. 18 [19]
DEC 5
N. Bayesian Theory and Decision Making
Berenson et. al. Ch. 17 [20]
D and C Ch. 19
DEC 12
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