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COURSE SYLLABUS
ECO 251 QUANTITATIVE BUSINESS ANALYSIS I
SPRING 2008
INSTRUCTOR:
Dr. Roger Even Bove
OFFICE:
Anderson Hall, Room 317D
MAILING ADDRESS:
Department of Economics & Finance
WEST CHESTER UNIVERSITY
West Chester, PA 19383 - 2220
OFFICE TELEPHONE:
610-436-2134
E-MAIL ADDRESS:
rbove@wcupa.edu. I check this much more frequently than my voice mail but see
SKILLS below.
WEBSITE:
http://courses.wcupa.edu/rbove/eco251/251key.html. Check the notices
on this site at least once a week. This site is also accessible through
Blackboard.
PREREQUISITE:
ECO 111, 112 MAT 105, 107, 108, 110 or 161. ECO/FIN majors and ECO minors are
Advised to take MAT 108 before this 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. A schedule is also posted on my door.
MW
TR
Noon-2:00 PM
3:15-5:00 PM
I am also usually available after 2PM Monday and Wednesday afternoons and after
5:00 PM 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, 2004. ISBN 0131037919.
Supplementary Materials & Tables For ECO 251 & 252. Available from Dynamic
Student Services, 20 Linden St. for about $7.00.
Douglas Downing and Jeffrey Clark, Business Statistics, 4th ed. (or 3rd ed.),
Barrons Educational Series, 2003. (D and C in outline.)
Note that I will use these 3 books in ECO 252 in Fall 2006.
RECOMMENDED TEXTS:
Shelly, Cashman, and Vermaat, Office 2003, Introductory Concepts and
Techniques, 2nd ed., Thomson,2006. ISBN:1418853593.
Ryan, Joiner and Ryan, Minitab Handbook, 5th. ed., Duxbury Press, Boston,
2005.
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 in the
library or for sale in the Economics and Finance 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.
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COURSE OBJECTIVES:
Learning Objectives of the course:
1. To learn how to visualize and statistically describe data. This includes
discussion of graphing; and basic measures of central tendency and
variability.
2. To understand probability theory which includes understanding conditional
probability and random sampling.
3. To understand discrete probability distributions and how to calculate the
mean, variance, and standard deviation of a binomial random variable.
4. To understand continuous probability distributions, particularly the
Normal distribution, how to assess normality, and how to calculate and
interpret the mean and standard deviation of the Normal random variable.
5. To understand sampling distributions, biased and unbiased estimates, and
the Central Limit Theorem.
6. To learn how to calculate and interpret confidence intervals for
population means and how to determine the appropriate sample size.
SKILLS:
Skills important to business students include critical thinking, quantitative
methods, use of appropriate technology and written communication. Thus, 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. To
fulfill the technology requirement, 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. In fulfillment of the critical thinking
requirement, you are expected to demonstrate knowledge of appropriate and
inappropriate use of statistical methods.
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.).
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!
If you intend to use your own copy of Excel, make sure that the
statistical functions in it work. 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.
Buy a stapler; it will pay for itself in papers not lost. Get a stapler!
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.
COURSE REQUIREMENTS:
This course requires you to solve problems in homework and on tests.
It is suggested that you get into the problem-solving habit. If you
have difficulty with a problem, ask for an explanation, you'll help
yourself, promote classroom discussion, and probably help fellow
students in the process. If you don't understand what is going on in
class, please come to my office.
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 that can be verified by the instructor. Practically speaking,
such cases normally include only illness attended by physician or nurse,
and avoidable 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... Nevertheless, please talk to the instructor about any
such situation. After the first exam, exams will be "open book". Please
bring your own tables and notes to the exam and do not share anything
with others. You are expected to bring a working calculator to each
exam. A back-up calculator is advisable. Xerox any tables or computer
output that you wish to share.
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Exams may be given on Tuesdays or Thursdays in the 3:00-5:00 slot.
Arrangements will be made for students who cannot take exams during
that hour. Students will normally be expected to make up the exam on
the day before it is given. It often takes two weeks to grade and
return exams. Keys will be returned or posted with exams.
All exams will be open book. Don't let that fool you. You still need to
practice the use of formulas and to understand when methods are used.
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.
It is not academic dishonesty in Statistics to help someone with a take-home
assignment unless actual computations and solutions are exchanged.
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.
ACCOMMODATIONS
We at West Chester University wish to make accommodations for people with
disabilities. Please make your needs known by contacting me and/or the Office
of Services for Students with Disabilities at X3217. Sufficient notice is
needed in order to make 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.
CUT POLICY:
I will consider your presence and participation when making up
grades. Exams are based on lecture materials and absence is foolhardy.
More than three unexcused absences when attendance is taken will result in
a lowered grade. 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.
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 (about 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. Course and Final exam grades are available on request by e-mail.
You are expected to pick up all other exams.
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.
Grades are final unless a legitimate mistake in grading is found. Do not 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. If you are worried about your
grade, the time to do extra credit is when you are given an assignment with an
extra credit section, not after the final exam.
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COURSE OUTLINE: Berenson et. al. references are all to the 10th edition. References to the 3rd edition
of D&C are in parentheses.
TOPIC AND CHAPTER
WEEKS BEGINNING
A.
Introduction-Uses of Statistics
Berenson et. al. Ch. 1, 7.4
D and C Ch. 1
JAN 14
B.
Sources and Types of Data
Berenson et.al. Appendices A, B and C
D and C pp. (399-408) 419-429
JAN 21
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
JAN 28
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
FEB 4
I.
Permutations and Combinations
Berenson et. al. Ch. 4.4
D and C pp. (74-84) 81-96
FEB 11
J.
Random Variables
Berenson Ch. 5.1
D and C Ch. 6
FEB 18
K.
Two Random Variables
FEB 25
‘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
MAR 3
MAR 17
M.
Continuous Distributions
Berenson et. al. Ch. 6
D and C Ch. 8
MAR 24
MAR 31
N.
Statistical Sampling
APR 7
Berenson et. al. Ch. 7 (7.6 is on CD-ROM)
D and C Ch. 8
O.
Parameter Estimates
Berenson et. al. Ch. 8 (8.7 on CD-ROM)
D and C
Ch. 10, 12
APR 14
APR 21
APR 28
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Economics 251, QBA I
Roger Even Bove
Spring 2008
I, _____________________________, have read the syllabus and fully understand the academic
dishonesty
policy
as
described
herein
and
by
the
University.
As
defined
in
the
2007
Undergraduate Catalog of West Chester University, academic dishonesty includes the following:
plagiarism, fabrication, cheating, academic misconduct, facilitating academic dishonesty, and
breach of standards of professional ethics.
The University defines plagiarism as follows: “Plagiarism is the inclusion of someone else’s
words, ideas, or data as one’s own work.
When a student submits work for credit that includes
the words, ideas, or data of others, the source of that information must be acknowledged
through complete, accurate, and specific references and, if verbatim statements are included,
through quotation marks as well… Plagiarism covers unpublished as well as published sources.”
(West Chester University Undergraduate Catalog, 2007)
I understand that the penalty for engaging in academic dishonesty and/or plagiarism may be
expulsion from the business program and/or University. I further understand that it is my
responsibility to make sure I understand how to correctly document the words and ideas of
others.
Ignorance is not a legitimate defense for plagiarism.
It is our belief that honesty is the foundation of moral and ethical behavior.
Individuals who
lead an honest life enhance the lives of themselves, their families, and their neighbors.
By
maintaining one’s integrity, one gains the respect of others which is its own reward.
__________________________________
Print your name
__________________________________
Signature, date
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