ECON 2113 Business Statistics
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Course Syllabus
Spring 2013
MEETING TIME: MW @ 1:00 - 2:15 (BU 335)
INSTRUCTOR:
John Seydel, Ph.D.
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Office: Business 313
Phone: 680-8072
eMail: jseydel@astate.edu
Personal website: www.suse1.astate.edu/~jseydel
Office Hours: (subject to change):
o MTWTh 10:00-11:30
o MW 2:30-3:30
o Other times by appointment
"Do Not Disturb" hours: MW 11:30-1:00
COURSE RESOURCES
Required textbook:
Business Statistics: A Decision-Making Approach (8th ed), by Groebner et al. Publisher: Pearson (PrenticeHall), ISBN 9780133252743. This ISBN includes an access code to MyStatLab, which you must have for the
course. Therefore, if you buy the book according to any other ISBN, you will likely need to acquire access to
MyStatLab directly through the publisher at www.MyStatLab.com. FYI, the book itself is available through
any of the following options:
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As hardcopy, bundled with the MyStatLab access code, through the ASU Bookstore (or other local
textbook suppliers).
As an ebook (at nearly 60% less than the cost of hardcopy books) through CourseSmart at the following
URL:
www.coursesmart.com/business-statistics-a-decision-making-approach/david-f-groebner-patrick-wshannon-phillip/dp/9780136122517
In various formats through online bookstores such as Amazon.
Online (we'll use all of these websites):
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Primary course website www.suse1.astate.edu/~econ2113 (not Blackboard)
MyStatLab: www.MyStatLab.com
Textbook companion: wps.prenhall.com/bp_groebner_busstats_8
Other materials:
You are required to have a USB flash drive to be used for storing files for your class exercises. This device may
need to be turned in for grading from time to time, so it would therefore be wise for you to have an additional
portable device for storing backup copies of your files. You must also have (and know how to use) a calculator
with exponential capabilities (i.e., a calculator with ex and yx keys). Bring these to each class meeting.
COURSE DESCRIPTION:
Introduction to data analysis for supporting decision-making. Includes: a summary of basic probability rules;
manual and computer supported calculation of univariate and bivariate descriptive statistics; the application of
probability and descriptive statistics for making statistical inferences in business-related applications such as
quality control, marketing research, financial analysis, etc. Prerequisites: Understanding of basic algebra as
gained from successful completion of MATH 1023; completion of the ASU College of Business computer
proficiency requirement.
OBJECTIVES:
Upon successful completion of this course you should:
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Understand and be able to use the fundamental techniques of statistical description and presentation of
data for univariate and bivariate analyses and thus be able to
o Perform statistical calculations both manually and with the aid of common computer software
(CoB: Business Knowledge)
o Report statistical results clearly and concisely (CoB: Written Communication, Business
Knowledge)
Understand and be able to work with basic probabilities and thus be able to
o Compute probabilities for simple events, joint, union, and complementary events, as well as
conditional probabilities
o Determine expected values and variances associted with discrete probability distributions
o Compute probabilities associated with the normal distribution
Understand how to use statistics and statistical inferences to address common business questions by
means of:
o Confidence interval estimation for means and proportions (CoB: Critical Thinking, Business
Knowledge)
o Hypothesis testing for means, proportions, and bivariate relationships (CoB: Critical Thinking,
Business Knowledge)
TEACHING METHOD:
This class will be taught through a combination of lecture, student discussion, and in-class demonstrations, with
a limited amount of hands-on lab exercises during class meetings. Concepts and techniques addressed in class
will be reinforced extensively through outside hands-on exercises. Each class meeting you may be called upon
to expound upon the material with which you are to have familiarized yourself prior to a given class period, as
well as to contribute to the discussion at hand. Therefore, class participation is important, and your grade may
reflect the quality of your contributions to the overall classroom experience.
TENTATIVE GRADING SCHEME:
Exercises
Quizzes
Exams*
200 points
200 points
500 points
Total
Final Grades:
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800 points
Minimum score required for an A grade = 720 points
Minimum score required for a B grade = 640 points
Minimum score required for a C grade = 560 points
Minimum score required for a D grade = 480 points
Final exam scheduled for Wednesday, May 1, at 2:45-4:45
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GUIDELINES & COMMENTS
MyStatLab is an online software system developed to help students better understand the material in this class.
When you buy your textbook, you should ensure it comes with a valid access code for MyStatLab. You will be
assigned considerable work involving the use of MyStatLab, so it will likely be difficult for you to do well in
the class without MyStatLab. In addition, you will likely gain more from the class if you do in fact take
advantage of the features available through MyStatLab.
Grading is done, ideally, for the primary purpose of providing you with feedback as to how well you are
doing. However, grading is often used more as a whip to make sure you don't goof off. I hope that both you
and I can view the grading system from the former perspective. If we can, I think all parties (you, employers,
society, the university, and I) should benefit. You are the primary consumer in this system and it is up to you to
get the most for the money that is being spent on your education. I will try to provide you with helpful
guidance; please help me to do so.
Homework will likely be assigned for every class meeting and will consist primarily of readings plus hands-on
exercises, many of which will involve your using a computer. Your work may or may not be collected,
although you will still be expected to have completed all assignments by the beginning of each class meeting;
late homework is strongly discouraged. Over the course of the semester, you are also to assemble an orderly
homework and class exercise portfolio. I may ask to see this (or any portion thereof) at any time during the
term, and your portfolio should include:
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The graded hardcopy for all exercises that have been returned to you
Hardcopy required for any other exercises
Graded exams and quizzes
Notes that you should be taking during class
Note that, if any exercise is not collected, you will obviously not receive direct feedback, so it will be your
responsibility to check your work with me, with that of other students, and/or against posted solutions. Outside
exercises for the class should typically take, depending upon your experience, previous coursework, and
computer background, an average of between six and nine hours per week. This work should also be fairly
evenly distributed across each week. If you spend less time than this (or if you try to work on course material
less frequently), you can expect to see detrimental results with respect to your grades. Worse than that, you will
be wasting what time you do spend, as you will not be able to develop a working understanding of the material
for future application. Keep in mind that much of your time will involve working with a computer (in
particular, using Excel), so you should plan to have ready access. Note again, that the time spent outside of
class should not be spent in one or two large blocks but should instead be spread out across each week.
Work Turned In must be neatly done and should conform to the following specifications. Solutions to
problem-type assignments are to be done in pencil, unless the work is computer generated. Your solutions
should clearly illustrate all relevant manual calculations, and answers should be highlighted and/or
underscored. For computer generated hardcopy, only the relevant portions are to be turned in, and the results
should be annotated appropriately, either in pencil or using the computer. On question-type assignments, you
need not rewrite the questions, but your answers should be readable (word processing or typing is preferred but
not required), and you should use complete sentences which are grammatically correct and which contain no
misspelled words. Slang is acceptable, but only if enhances the readability and meaning of your work and is
used judiciously. (Note that the use of the words "you," "your," or any other second person pronoun is
prohibited unless you are specifically addressing me -- these words do not belong in your formal written
vocabulary. In addition, reports you write will not be "show and tell" assignments, so it is wise also to avoid
first person pronouns in such work.) For reports and projects, professional work is expected. That is, what you
submit should be of the quality you would expect to submit to a supervisor or colleague on the job. Neatness,
appearance, and form do count. If outside materials are used to accomplish the assignment, cite your references
in the proper manner. Multiple pages should be stapled together. All work should be done on 8.5" x 11"
paper, and any computer output necessary to support your work should be attached or, preferably, cut and
pasted into the appropriate locations, either digitally or physically. Any exhibits (i.e., tables, charts, graphs,
etc.) included must be meaningfully referred to in the text of your work. Note again that only relevant
computer output is to be included when you use the computer to support your work.
Quizzes are administered frequently and are generally short, involving your working problems and/or
responding to objective questions associated with material recently assigned and/or discussed. The purpose of
the quizzes is (a) to help me see regularly how well you are grasping the concepts being addressed in class and
(b) to force you to keep up with the material. Quizzes will generally be unannounced; in order to be prepared,
bring a sharp pencil and eraser to class every day we meet.
Exams are scheduled to take place: Monday, February 4; Wednesday, March 6; Monday, April 15; and
Wednesday, May 1 (the comprehensive final exam). Each of the midterm exams carries a point value of 100
(13% of the course grade), and the final exam is weighted at 200 points (35% of the course grade). These may
include multiple choice, essay, and fill-in-the-blanks questions, as well as problems to be worked. You will be
expected to integrate and to apply your own common sense along with concepts addressed in this class and
other classes. Depending upon the material covered, the exams may be administered in one of the computer labs
so that you will have access to campus computing resources, should you need them. As a rule, you will not be
allowed to use reference materials (e.g., text, notes, homework) when taking the exams. Your time is very
limited on each exam and is insufficient to complete the exam unless you are thoroughly familiar with the
material, as you would be after having completed and subsequently studied all assigned homework. In order to
be prepared for taking the exams, bring a sharp pencil and eraser to class on exam days.
Class Participation is not a formal part of the grading scheme for this class. Nevertheless, your participation
can be very important and may be used in determining where final grade cutoffs will be made, as well as for
assisting in borderline decisions. In addition, extra credit may be awarded for outstanding contributions. More
importantly, what you put into the class in preparing to participate in class will very likely affect how well you
are able to grasp and to apply the material on exams, in the short run, and with your own personal productivity
in the long run. The value of your participation will be reflected by: your responses to questions posed by me in
class; questions you pose and comments about course concepts; and remarks you make concerning experiences
you have had with or have read/heard about concepts and techniques addressed by the course and/or the
applications value of such items. In addition, your contributions to the StatList eMail discussions can be an
important part of your class participation. Both the quality and quantity of your contributions to class
discussions are important. Note that you are the primary customer in this system and that high levels of quality
and continuous improvement require a partnership between a supplier and a customer. In other words,
customer (i.e., your) involvement leads to high service quality. As a result, you will enhance the quality of your
learning experience by being an active partner, not just a passive recipient. This is done, to a great extent, by
your preparing for and getting involved in class discussions.
Office Hours will be held so that you may simply drop in if you need to discuss anything related to the course,
your curriculum, your career, etc. I encourage you to take advantage of this time. If you have questions
regarding homework assignments (other than about what is expected), I will expect you to demonstrate that
you have already put a reasonable effort into attempting the exercises. In this manner, we'll both benefit the
most from the consultations. Please do not use the course office hours to try to make up for a missed class. If
you have a valid excuse for missing a class, I will try to give you some direction in dealing with anything you
might have missed; otherwise, please ask one of your classmates about what you have missed. If you don't wish
to come by the office, or if you are unable to do so, three 24-hour a day options are provided to you as
alternatives:
eMail to StatList: A discussion list, for which the complete Internet address is
StatList@mailman.astate.edu, has been set up, and, once you have provided me with your email
address, I'll add your name to the list. It works as does a traditional mailing list -- any email sent to the
list is forwarded to each person whose name is on it. If you have questions or concerns about
assignments, things brought up during class, and/or other aspects of the course, the discussion list is the
place to pose them. I will get back to you fairly quickly (sometimes immediately), and other students
will be able to provide their insights, as you yourself will also be able to do for them. Furthermore, the
answers to your questions will be sent to all who are subscribers of the list. In this manner, your
questions and their answers can benefit the entire class, since, if you have a question, so likely do other
people.
eMail me directly: If you have personal questions or concerns that should not be made public (e.g.,
needing to set up an appointment to meet with me), send an email message to me, and I'll get back to
you as soon as I can.
Phone me: If email is not, for one reason or another, appropriate or sufficiently quick, call me. If I'm
not in, you can leave a message, and I'll get back to you.
"Do Not Disturb" Hours are posted, not because I don't like trying to help students but instead to help me in
making final preparations for my class meetings. Hence, I'll appreciate your trying to avoid seeking help, etc.,
during these posted hours of nonavailability.
eMail (moreso than text messaging) and use of the Worldwide Web are essential for you to succeed in this
course and, more importantly, as a member of a modern organization. I will be communicating with you
extensively via the class website and through email. These communications are likely to concern daily
assignments, examples, and other supplementary course materials. You will be required to check your email
daily, 7 days per week, and to respond if appropriate. In addition, you will be required to monitor and to
participate in the StatList discussions and you are to be very familiar with all of the course materials that will be
made available through the class website.
Questions about the exercises, their relevance to the business world, useful variations, etc. are strongly
encouraged. If you do not ask questions, I will assume that you are having no trouble with the course and are
adequately prepared to complete the assigned exercises and to take the exams and/or quizzes. Therefore, please
ask for help as you need it.
Academic Misconduct, including plagiarism and cheating on exams or homework, will be dealt with under
official university procedures. It is your responsibility to be familiar with these procedures, as outlined in The
ASU Student Handbook. To be certain you have no misunderstanding, you should adhere to the following
guidelines.
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While you are encouraged to work together, this nevertheless means to work independently and to
compare answers, procedures, etc. only occasionally, not item by item. Ultimately, each person
involved in this sort of cooperation should grasp the material on her/his own.
Each person's work should clearly be distinct from that of other students. Although typically there will
be a single correct answer for any assigned exercise, the means of getting to that answer, as well as the
manner in which that answer is displayed, should generally be unique to the student.
Whenever you submit work that's not your own, that's cheating. Although exercise solutions may be
available online, in solutions manuals, from friends, etc., what you submit for grading is to be what you
yourself have done.
Attendance is required. If, however, you must miss class as a result of a documentable illness or other
reasonable cause, arrangements will be made to accommodate the absence. If at all possible, you are expected
to notify me via email prior to the absence. No makeup exams or quizzes will be given, so make whatever
plans are necessary (at work or wherever else) to be in class to take the exams and quizzes.
Class Will Begin Promptly at the Scheduled Time. This means that you are expected to be in your seat on
time and ready to participate during the entire time designated for the class. Preparation for class (either this or
any other class) should be done outside that time. In addition, once you are in class, you will not be permitted
to leave for the day unless prior arrangements have been made with me.
If You Are a Student with a Disability, you are encouraged to work with the Disabilities Services Office to
determine any necessary arrangements. Such arrangements include, but are not limited to special seating, testtaking accommodations, and note-taking assistance. The Disabilities Services Office office can assist you in
documenting your needs and will provide you with a letter that you can bring to me, and we can discuss how to
arrange for your full participation in this class.
Note-taking is essential for this class. The PowerPoint outlines are intended to be frameworks (essentially
skeletons) for material we address and are not in themselves notes. It is therefore up to you take notes in a
manner that will flesh out the frameworks and that is most meaningful to you. You are therefore required to
bring to class daily your own notes from the previous class meeting and to be ready to turn in a copy of those
notes (prepared as specified above) should you be asked to do so.
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TIPS FOR SUCCEEDING IN THIS COURSE:
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Spend some time on the course every day, 7 days per week
Read the material in the textbook (before trying to work the exercises)
Work all the exercises assigned soon as possible after they have been assigned
Pay attention to the solutions (i.e., the solution processes), not just the answers
Take notes corresponding to any and all class discussions and then try out the various techniques ASAP.
ABBREVIATED COURSE OUTLINE (Tentative):
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Overview of Statistical Decision-Making ............ 2 class hours
Introduction to Computer Support for Statistics .... 3 class hours
Graphical Representation Techniques ................ 2 class hours
Descriptive Statistics (Univariate and Bivariate) .. 3 class hours
Probability Concepts ............................... 1 class hour
Discrete Probability Distributions ................. 4 class hours
Continuous Probability Distributions ............... 4 class hours
Sampling and Sampling Distributions ................ 2 class hours
Introduction to Statistical Estimation ............. 3 class hours
Introduction to Statistical Hypothesis Testing ..... 3 class hours
Additional Applications of Statistical Inference ... 6 class hours
Regression Applications ............................ 3 class hours
Exams, Quizzes, and Reviews ....................... 10 class hours
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This page last modified January 14, 2013, 8:40 am
Please submit any comments, corrections, etc. about this document to John Seydel