BUSI3 1 9 Quantitative Methods Fall- 20 1 8 PDF

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St George’s University School of Arts and Sciences Department of Business and Management Studies

Course Code, Title and Number of Credits: Quantitative Methods (3 Credits) Days and Times: Tue-Thu (4:00 – 5:15) Semester and Year: Fall 2018 Pre-requisite(s): Math 220 Classroom Location: Super Dorm 1 Course Director Name: Mr. Curlan Gilchrist Course Lecturer Name(s): Mr. Curlan Gilchrist Course Director Contact Information: : [email protected] Course Lecturer(s) Contact Information: [email protected]

Course Director Office Hours: by appointment Course Lecturer(s) Office Hours: by appointment

Course Management tool: To learn to use Sakai, the Course management tool, access the link https://apps.sgu.edu/members.nsf/mycoursesintro.pdf Course Description:

This course will provide an intensive study of descriptive, inferential statistical, and some selected selective quantitative techniques required for business decision making. Data analysis and interpretation would be emphasized. Topics in descriptive statistics would include construction, interpretation, and use of index numbers, and an in-depth analysis of Bayes’ Theorem. Inferential statistics and quantitative techniques would include a detail study of decision making under certainty, hypothesis testing, and multiple regressions and forecasting. At the end of this course, students should be able to apply the statistical and quantitative tools, methods, and techniques learned to understand, analyze, and solve business problems

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Course Objectives 1) To provide an understanding of the value and use of quantitative methods in problem solving and decision-making. 2) To be able to apply a variety of statistical and quantitative techniques to a wide range of business situations. 3) To recognize which statistical techniques and methods are applicable in problem solving for management decision making.

Student Learning outcomes When you have completed this course you should be able to: 1) appreciate that statistical analysis of data improves business decisions and improves business competitiveness. 2) Select the correct statistical method for a given data analysis requirement. 3) Develop expertise in describing data, hypothesis testing and model interpretation. 4) Achieve a practical level of competence in applying quantitative methods to business applications. 5) Recognize the application of different techniques in time series analysis and forecasting. 6) Development competence in the use of Excel as a tool for data processing. Program Outcomes Met By This Course: 1. Ability to propose business solutions through the use of theories, research and analytical skills. Expectation To obtain the most from this course, students should attend every class meeting. If you miss class, it is your responsibility to obtain the information covered in your absence. Students should have total access to the required text. It is expected you would have read the assigned material before class and be prepared to seek clarification where necessary. You should go away from the lectures and think carefully about what you have heard and assimilate further material from the textbook while paying attention to business events and opportunities appearing in the news. SAS Grading Scale Grades will be assigned as follows: A = 89.5% or better B+ = 84.5- 89.4% B = 79.5 – 84.4% C+ = 74.5 - 79.4% C = 69.5 - 74.4% D = 64.5 - 69.4% 2

Course Materials:

Textbook: McClave Bension Sincich, “Statistics for Business and Economics”, Tenth or any later edition Course Requirements and Percent of Grade: Evaluations:

1) 2) 3) 4) 5)

Quizzes 5% Assignment15% Midterm Examination25% Final examination50% Attendance and participation- 5%

PLAGIARISM POLICY: ACADEMIC INTEGRITY The St. George’s University Student Manual (2016/2017, page 24) states as follows: “Plagiarism is regarded as a cardinal offence in academia because it constitutes theft of the work of someone, else which is then purported as the original work of the plagiarist. Plagiarism draws into disrepute the credibility of the Institution, its faculty, and students; therefore, it is not tolerated.” Plagiarism also includes the unintentional copying or false accreditation of work—so double check your assignments BEFORE you hand them in. Be sure to do good, honest work, credit your sources and reference accordingly and adhere to the University’s Honor Code. Plagiarism and cheating will be dealt with very seriously following the university’s policies on Plagiarism as outlined in the Student Manual. Your work may be subject to submission to plagiarism detection software, submission to this system means that your work automatically becomes part of that database and can be compared with the work of your classmates. Students with Disabilities and Special Challenges A student who has a disability or a special challenge that requires some modification of the seating or other class requirements must contact the course director so that appropriate arrangements can be made. Attendance Policy Students are expected to attend all classes and clinical rotations for which they have registered. Although attendance may not be recorded at every academic activity, attendance may be taken randomly. Students’ absence may adversely affect their academic status as specified in the grading policy. If absence from individual classes, examinations, and activities, or from the University itself is anticipated, or occurs spontaneously due to illness or other extenuating circumstances, proper notification procedures must be followed. A particular course may define additional policies regarding specific attendance or 3

participation. Assignment Submission policy Unless otherwise indicated, submit your written assignments electronically (i.e., in the designated assignment drop box on SAKAI), as a WORD attachment. If there is no designated drop box on SAKAI, send it to my SGU email. As far as possible, follow the most current APA Style Manual when submitting your work: Include a title page with the title of the paper, the name(s) of the person(s) who wrote the paper, and the date submitted, A header must appear at the top of each page, All pages must be numbered, All pages must have one inch top/bottom, and left/right margins, and Papers must be double-spaced, with 12 point fonts. All sources of information used in your paper must be documented. This is true whether you are quoting or paraphrasing; whether you are making direct reference to the material, or using it in a general and indirect way. Sources here refer to written as well as non-written materials, such as audio or video recorded interviews, personal conversations, etc. It is a criminal offense to use other people's information without giving them the credit. It is called plagiarism. A source must be cited by author(s), year (and page numbers if quoting) in the passage in which it is used. Please proof read and spell check your document. With word processors now possessing both grammar and spell check, I consider it highly unprofessional to submit documents with incorrect spelling and blatant grammatical errors. Papers that do not adhere to these guidelines may not be reviewed.

Classroom Etiquette Smoking is not permitted in any University building. Eating or drinking (except water) is strictly prohibited in any campus lecture hall, classroom, laboratory, or library. Online Etiquette A key distinguishing feature of online courses is that communication occurs solely via the written word. Because of this, the body language, voice tone, and instantaneous listener feedback of the traditional classroom are all absent. These facts need to be taken into account both when contributing messages to a discussion and when reading them. Keep in mind the following points: Tone Down Your Language Given the absence of face-to-face clues, written text can easily be misinterpreted. Avoid the use of strong or offensive language and the excessive use of exclamation points. If you feel particularly strongly about a point, it may be best to write it first as a draft and then to review it, before posting our statement. In general, avoid humor and sarcasm. These frequently depend either on facial or tone of voice cues absent in text communication or on familiarity with the reader. If someone states something you find offensive, mention it directly to the instructor. Remember the person may be new to online learning. What you find offensive may be an unintended and can be corrected by the instructor.

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Test For Clarity Messages may often appear perfectly clear to you as the writer but turn out to be confusing by another reader. One way to test for clarity is to read your message aloud to see if it flows smoothly. Be concise when possible when contributing to a discussion. If you have several points you want to make, it may be a good idea to post them individually in more focused messages rather than a single, allencompassing message. Think carefully about the content of your message before contributing to the discussion. Once sent to the group, there is no taking it back. Although grammar and spelling may not be graded, they do reflect on you, and your audience might not be able to decode misspelled words or poorly constructed sentences. Acronyms and Emoticons are popular to use. Remember that online courses require professional writing. Be discerning with your use of “texting” writing. Citations and Other Etiquette Sources Many of the points made here were taken from The Core Rules of Netiquette excerpted from the book Netiquette, by Virginia Shea.

Disclaimer: It is your responsibility to read and understand the policies, laws, rules and procedures that while they could affect your grade for a course, have not been specifically outlined in the course syllabus. These are contained in the St. George’s University Student Manual.

Teaching Methodology Interactive lectures combined with frequent quizzes and assessments.

Tentative Course Schedule:

Course Outline 1) Methods of describing and presenting data sets a. Measures of central tendency b. Measures of dispersion c. Index numbers d. Graphical methods and applications 2) Probability a. Additive rule and mutually exclusive events b. Conditional probability 5

c. Multiplicative rule and independence events d. Bayes’s Rule 3) Probability distributions a. Probability distribution for discrete random variables (Binomial, Poisson, hypergeometric distribution, geometric random distribution) b. Probability distribution for continuous random variables (normal distribution) 4) Decision theory a. Decision making under uncertainty and risk 5) Programme Evaluation and Review Technique(PERT) and the Critical Path Method(CPM) a. The framework of PERT and CPM b. Determining the Critical Path c. Drawing the Network d. Critical activities and the Critical Path 6) Sampling and Sampling distribution a. Concepts b. Properties c. Types of sampling 7) Inferences based on a single sample: Estimation with confidence intervals a. Population mean b. Population proportion c. Determining sample size 8) Inferences based on a single sample: Test of hypothesis a. About a population mean b. About a population proportion c. About a population a variance

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d. Observed significant levels and P-Values 9) Inferences based on two samples: Confidence Intervals and Tests a. Comparing two population means b. Comparing two population proportion c. Determining sample size d. Comparing two population variance 10) Simple linear regression and correlation 11) Multiple regression , model building, and forecasting techniques

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