500syll 1/26/06
COURSE SYLLABUS
ECO 500 - BUSINESS STATISTICS
Winter 2006 - 2007
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/eco500/500key.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. Excel proficiency is required of Business majors. See SKILLS below.
OFFICE HOURS:
These hours frequently conflict with faculty meetings. Check the website before
coming in.
Fall term Office Hours
MW
4:00 – 5:30 PM
TR
3:30 – 5:00 PM
F
3:00 – 4:00 PM
Winter Term Office Hours
R
3:30 – 5:30 and after class in Business Center
Spring Term Office hours
TR
3:30 – 5:30
MWF
Noon-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., PrenticeHall, 2004. ISBN 0131037919).
Supplementary Materials & Tables For ECO 251 & 252. Available from
Dynamic Student Services, 20 Linden St. for about $8.00. Buy this soon!!!!!!
Douglas Downing and Jeffrey Clark, Business Statistics, 4th ed., Barrons
Educational Series, 2003. ISBN 076411984 (D and C in outline.)
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RECOMMENDED TEXTS:
Ryan, Joiner and Ryan, Minitab Handbook, 5th. ed., Duxbury Press, Boston,
2005.
Shelly, Cashman, and Vermaat, Office 2003, Introductory Concepts and
Techniques, 2nd ed., Thomson,2006. ISBN:1418853593
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.
Student Solution Manual for Berenson Text.
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 to analyze data and solve problems using
descriptive statistics and probability theory. Topics covered include
discrete and continuous probability distributions, and sampling
distributions. The course will stress practical business applications of
statistical theory. Students will be required to obtain and interpret
descriptive statistics using Excel and Minitab. It will teach 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
Minitab and interpret the results.
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 may 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.
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EQUIPMENT etc.:
Get a decent calculator and read the instruction book! If you need
advice on what to get, ask a Finance instructor. (Hewlett Packard
HP10B Professional) 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 or a
representative of the graduate program, posted on the classroom door. If there is
any doubt, check with the secretary on the third floor.
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. Do not use cell phones during exams. Though it may be reasonable to
discuss questions on take-home exams, copying will be severely punished.
CUT POLICY:
This is a graduate course. Each session is extremely important and exams are
based on lecture materials. Students are expected to attend every class. A poor
attendance record will be considered evidence that you do not care about
your 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, family emergencies (not family vacations or hunting trips) and employer
requirements.
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ACADEMIC DISHONESTY:
EVALUATION POLICY:
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.
Student progress in this course is determined by one two-hour examination,
(which will be announced at least one week in advance), two take-home exams
and a final exam. Class participation and homework evaluations may also be
considered. Primary weight is on the exams (2/9 of grade each) and the final
exam (1/3 of grade).
A number of graded assignments and take-home exam sections may also be
assigned during the year. Because these are difficult to grade, neatness is
expected. Neatness means paper neatly trimmed on the left side if it has been
torn, multiple pages stapled and paper written on only one side. You do not
have a right to complain about slowness in grading if you do not turn in a
paper that can be graded rapidly.
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.
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 .
TOPIC AND CHAPTER
MEETING
A.
Introduction-Uses of Statistics
Berenson et. al. Ch. 1, 7.4
D and C Ch. 1
NOV 28
B.
Sources and Types of Data
Berenson et.al. Appendices A, B and C
D and C pp. (399-408) 419-429
C.
Presentation of Data
Berenson et. al. Ch. 2
Minitab Ch. 1,2,3
D.
Frequencies and Populations
D and C Ch. 2
E.
Sampling, Descriptive Statistics
D and C pp. (227-229, 239-241) 251-254, 263-267
F.
Measures of Central Tendency
Berenson et. al. Ch. 3.1, 3.2, 3.3, 3.4, 3.6
G.
Measures of Dispersion and Asymmetry
Berenson et. al. Ch. 3.3 through 3.6.
H.
Probability
D and C
CH 3,4,5
Berenson et. al. Ch. 4
I.
Permutations and Combinations
Berenson et. al. Ch. 4.4
D and C pp. (74-84) 81-96
J.
Random Variables
Berenson Ch. 5.1
D and C Ch. 6
K.
Two Random Variables
‘Formulas for Functions of Random Variables’
Berenson et. al. Ch. 3.5, 5.1, 5.2
D and C Ch. 9
L.
Discrete Distributions
Berenson et. al. Ch. 5.3-5.6
(5.6 is on CD-ROM)
D and C Ch. 7
D and C pp. (230-231) 254-255
M.
Continuous Distributions
Berenson et. al. Ch. 6
D and C Ch. 8
N.
DEC 5
DEC 12
JAN 2
Statistical Sampling
Berenson et. al. Ch. 7 (7.6 is on CD-ROM)
D and C Ch. 8
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O.
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
P.
Power Functions and Operating Characteristics
Berenson et. al. Ch. 9.6 (9.7 on CD-ROM in 9th edition)
Q.
Hypothesis Testing - 2 Populations
Berenson et. al. Ch. 10,
(also 12.7-12.8 in 10th ed, 12.1 in 9th ed.)
Material 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)
R.
JAN 11
Chi Squared Tests
JAN 16
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]
S.
Analysis of Variance
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)
T.
Simple Regression
Berenson et. al. Ch. 13
D and C Ch. 15 [16]
Minitab Ch. 11.1 - 11.3
JAN 23
U.
Multiple Regression
Minitab 11.4
Berenson et. al. Ch. 14
D and C Ch. 16 [17]
JAN 30
V.
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]
W.
Correlation
Berenson et. al. Ch. 3.5,13.7, 14.5
(3.6, 13.7, 14.5 in 9th ed.)
Make-up and Review
Final Exam
6
JAN 9
FEB 6
FEB 13