Principles of Business Statistics
Economics 2173
Spring 2009
Instructor:
Office:
Phone:
E-Mail:
Office Hours:
Dr. Jeremy Oller
Thatcher 217
974-5347
joller3@ucok.edu
MWF: 12-1 pm;
TR: 10:30 am- 12 pm
Required Text: Lind et.al, Statistical Techniques in Business and Economics Statistics.
University of Central Oklahoma Custom Edition by McGraw-Hill Publishing Company.
Pre-requisite: MATH 2053- Math analysis for Business/Calculus and Statistics for
Business.
Course Objective: The primary objective of this course is to provide students an
understanding of basic statistical concepts and techniques. Through the use of lectures,
written homework assignments, and Microsoft Excel, we will cover how statistics can be
applied in a variety of economic and business practices. Given that statistics is an
application based field, students will be expected to know how to apply the concepts
covered in class. We will be using computer based applications to illustrate how
statistical concepts actually work in practice. If you do not feel comfortable using
Microsoft Excel, you will need to take the initiative to enhance your competence with the
program. You can accomplish this by experimenting with the program yourself,
consulting with me after class, and/or asking your fellow classmates for help. I fully
expect every student to be competent in understanding both statistical concepts and
applications upon completing this course.
Grading:
This course will be graded differently than most courses that students take in their
academic career. Mastery of the introductory concepts in this course is a necessity to
fully comprehending later concepts. As a result, grades will not be assigned by the
percentage of right answers on a given exam. Instead, your overall grade will be
determined by the number exams you complete successfully. This will require you to
master concepts before you pass a particular exam.
This class will have more frequent testing with less information on each exam. Each
exam will be relatively short and more like a long quiz. There will be a total of nine
exams. Your exam grade will be the percentage of exams you pass and this score will
account for 80% of your grade in the class. The remaining 20% of your grade will come
from homework assignments.
For example, if you completed 7 out of 9 exams and earned 80 percent of the homework
points, your grade will be computed as follows:
Exam grade = 7/9 or 78%
Homework = 80%
Weighted exam grade= .8*exam grade= .625
Weighted homework grade = .2* homework grade = .16
Total grade= weighted exam grade + weighted homework grade = 78.5
Exams:
Every Friday, excluding the first week of class, I will set aside 30 minutes for taking
exams. There will also be some Fridays where the entire class period is set aside. The
exams are not intended to be extremely long, but are intended to insure you fully
comprehend the subject matter.
Each exam will have 10-20 multiple choice questions and one problem. To successfully
complete an exam, you must score 80% on the multiple choice questions and the problem
must be performed correctly. If you miss more than 80% or perform the problem
incorrectly, the exam will not be counted as a pass.
You may take as many exams as you like on an exam day. In addition, you will be given
three attempts for any particular exam. If you fail to pass after 3 attempts, you will not be
eligible to take that exam again.
Exam Content:
Exam 1- Describing Data: Frequency tables and frequency distributions (Chapter 2)
Exam 2- Describing Data: Numerical Methods (Chapter 3)
Exam 3- Basic Probability Concepts (Notes and Supplements)
Exam 4- Continuous Probability Distributions (Chapter 7)
Exam 5- Sampling Distributions (Notes and Supplements)
Exam 6- Estimation and Confidence Intervals (Chapter 9)
Exam 7- One-Sample Tests of Hypothesis (Chapter 10)
Exam 8- Linear Regression and Correlation (Chapter 13)
Exam 9- Multiple Regressions and Correlation Analysis (Chapter 14)
Some material may be omitted from each chapter; you will be notified of the omissions
before we cover the chapter. Additionally, I may lecture or provide supplements in
addition to the text. You will be responsible for that information.
I do reserve the right to change or omit any part of the course topics as necessary.
Homework: There will be two types of homework in this course, both of which will be
posted on my website.
Written Homework: Written homework will present students with problems related to
course material and can typically be answered without the use of a computer. You cannot
e-mail me this homework, and you must be present in class to turn it in. You are expected
to complete all written homework to gain a better understanding of course concepts.
Excel Homework: Excel homework will require students to utilize excel to solve
statistical problems. There will be 5 excel homework assignments. Class time will be set
aside for each excel homework assignment. During this time you are encouraged to ask
for my assistance or work with other students to improve your understanding of excel and
the statistical concepts presented in the assignment. While it may be possible to complete
some of these assignments in the allotted class time, you may frequently need to devote
time outside class to finish the assignments.
Policies and Recommendations:
1. Cell Phone Policy- Cell Phones are not permitted during class periods. This includes
text messaging and internet access. Yes, I can tell when you are using the phone during
class as individuals are not prone to stare into their lap for excessive periods of time
under normal circumstances. If you are using the phone during class or it rings during
class time, you will be asked to leave the room. The importance of the call or text is
irrelevant.
2. Attend all classes and take full lecture notes.
3. Grades will not be raised by doing extra work and all exams will be counted toward the
final grade.
4. Homework will not be accepted late.
5. You are encouraged to come to my office hours to discuss any class related issues and
discuss course material.
6. You are also encouraged to work with other students in preparing for exams and
working on homework assignments (this does not mean let one person do the work and
copy it, as this will only serve to your detriment at exam time)
Students with Disabilities: The University of Central Oklahoma complies with Section
504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990.
Students with disabilities who need special accommodations must make their requests by
contacting the assistant director of Disability Support Services, Kimberly Fields at 9742549. The office is located in the Nigh University Center, Room 309. Students should
also notify the instructor of special accommodation needs by the end of the first week of
class. The Academic Affairs student information sheet can be accessed with the
following URL:
http://www.busn.ucok.edu/academicaffairs/FORMS/Student%20Information%20SheetFa
l06.pdf