BUS 304EX - BUSINESS STATISTICS Summer 2008 (CRN 30156) Meeting Time(s): Lecture: MWF 12:00 – 15:25 MARK 309 Lab: MWF 15:35 – 16:35 MARK 309 First Half (July 7 – July 21, 2008): Instructor: Fang Fang Office: Markstein Hall 437 Phone: (760) 750-4293 E-mail: [email protected] Office hours: MWF 11:00-11:50am and by appointment Second Half (July 23 – Aug 8, 2006): Instructor: Chetan Kumar Office: Markstein Hall 444 Phone: (760) 750-4207 E-mail: [email protected] Office hours: by appointment Course Website: Each will use their own website. The links will be announced in the first class meeting. Students can download course materials and homework assignments from the sites before each class. Course Overview Business Statistics is a course on distilling useful business information by collecting, organizing, and processing data. In this course, you will learn basic descriptive statistical methods, sampling methodology, how to draw inferences from samples to larger populations and how to make predictions based upon historical relationships between variables. Especially, students are expected to learn how to use statistical software such as Microsoft Excel to solve real world problems. My experience has shown that statistics is best taught through a series of clear and carefully worked examples. Therefore, theoretical background in descriptive and inferential statistical methods will be provided, however a great deal of time will be spent on teaching you how to apply the theory to the real world. Statistics is not about memorizing formulas. Instead it is about recognizing the appropriate statistical test to perform in a given situation. This requires practice on the part of the student. As we cover the topics, if you do not have a clear understanding of one topic it is wise to seek help immediately. The next topic will build upon the previous one. Please allow us to assist you as soon as you find that you have questions. Textbook:A Course in Business Statistics (4th edition) by David F. Groebner, Patrick W. Shannon, Phillip C. Fry and Kent D. Smith, Prentice Hall, 2006 (available in the Bookstore) Other course materials: You will need a calculator for this course to be used with homework and in-class quizzes and exercises. You may also bring it to the tests. A basic calculator that adds, subtracts, multiplies, divides and finds square root will be sufficient. You may not use a cell phone to do calculations during the exams. You should also have a recent version of Microsoft Excel (with data analysis add-in installed) on your computer to finish your homework and written project. You may also need a USB memory stick to save in-class exercise files. Grading Procedure: You final grade will be computed on a basis of 100 points. The grading formula can be found below. How the final grade translates to the letter grades is also given. I DO NOT use a curve. You have to gain enough points to pass the class. You can see how your points accumulate through the semester using the Excel file provided in WebCT. 1. Individual Homework (IH; 25%): There will be totally 6 individual assignments during the whole semester. Each of them will be equally weighted. Students should use Microsoft Word to finish the homework and print out a hard copy to be submitted to the instructor at the beginning of the class session when they are due. Electronic submission is not accepted. Most of the assignments are associated with the lab experiments. Attendance is important to finish the homework. An average student should be able to finish the homework during the lab session. Late submission will be deducted 20% from the original score each day. 2. Mini-projects 1 and 2 (MP1 and MP 2; 12.5%): The objective of the mini-projects are to permit students to solve problems and tailor course concepts to their own interests, whether they are in HTM, GBM, M&M, or Accounting/Finance. The mini-projects are designed to acquaint students with one specific area of application of statistics. All students have to submit a hard copy of the assignment as a group on the due dates. All CSU students must demonstrate competency in writing skills as a requirement for graduation. This requirement mandates that every course at the university must have a writing component of at least 2500 words (approximately 10 pages). To achieve this requirement in this course, each assignment team (grouped as 3-4 students) is required to submit a five page report for each mini-project. All the students are required to contribute equally in assignments.3. Two Exams (Ex1 and Ex2; 25% each): There will be two in-class exams scheduled at the middle of the semester (most likely: July 26th) and the last class meeting day (Aug 9th), respectively. Final Grade Formula: Final Grades= IH*25%+MP1*12.5%+MP2*12.5%+Ex1*25%+Ex2*25% Final Letter Grade: 90-100 85 < 90 80 < 85 75 < 80 70 < 75 65 < 70 60 < 65 50 < 60 0 < 50 A A- B+ B B- C+ C C- FDetailed Schedule (temporary, to be updated) Week Date What we are going to do: Note 1 July 7 Course Overview July 9 Chpt 1 Data Collection July 11 Chpt 2 Graphs: Bar/Pie/Line/Scatter/Histogram 2 July 14 Chpt 3 Numerical Measurements July 16 Chpt 4 Probability Theory July 18 Review Session for Exam 1 Instructor: Fang 3 July 21 Exam 1 July 23 Chpt 5 Normal Probability July 25 Chpt 6 Sampling Distributions 4 July 28 Chpt 7 Confidence Interval Mini Project (1) Due July 30 Chpt 8 Hypothesis Testing Aug 1 Chpt 12 Regression Analysis 5 Aug 4 Review Session for Exam 2 Aug 6 Exam 2 Instructor: Kumar Aug 8 Min-Project Assignment (2)