Uo S Outline QBUS5001 SEM2 2019 Approvedv 2 PDF

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BUSINESS SCHOOL

Unit of Study Outline Unit Code QBUS5001 Unit Title Quantitative Methods for Business Semester 2, 2019 Pre-requisite Units: Co-requisite Units: Prohibited Units: ECMT5001 or QBUS5002 Assumed Knowledge and/or Skills: Basic calculus; basic concepts of probability & statistics Unit Coordinator: Dr Andrey Vasnev Address: Room 4160, Abercrombie Precinct(H70), The University of Sydney NSW 2006 Email: [email protected] Phone: 9036 9435 Consultation Hours: See Canvas website Class Day(s): Lectures: Stream 1: Monday 12pm-3pm in MLT1; Stream 2: Monday 3pm-6pm in MLT2; Stream 3: Wednesday 2pm-5pm in ILT1; Stream 4: Thursday 5pm-8pm in Footbridge Lecture Theatre; Tutorials: See Canvas Required Text / Resources: Textbook: Selvanathan E.A., Selvanathan, S & Keller, G. (2017) Business Statistics, Australia & New Zealand 7th Edition. Cengage Learning, Australia. ISBN: 978-017 0369466. 6th edition can also be used. Online resources: Canvas, Aplia Software: MS Excel with Data Analysis Toolpak and Data Analysis Plus add-in This unit of study outline MUST be read in conjunction with The Business School Unit of Study Common Policy and implementation information that applies to every unit of study offered by the Business School (http://sydney.edu.au/business/currentstudents/policy). All assessment rules, such as standards used, penalties etc, are covered.

1. Unit of Study Information This unit highlights the importance of statistical methods and tools for today's managers and analysts, and demonstrates how to apply these methods to business problems using real-world data. The quantitative skills that students learn in this unit are useful in all areas of business. Through taking this unit students learn how to model and analyse the relationships within business data; how to identify the appropriate statistical technique in different business environments; how to compute statistics by hand and using special purpose software; how to interpret results in the context of the business problem; and how to forecast using business data. The unit is taught through data-driven examples, exercises and business case studies.

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2. Program Learning Outcomes and Unit Learning Outcomes The Program Learning Outcomes for this Program are located at http://sydney.edu.au/business/about/accreditations/AoL Unit Learning Outcomes Unit Learning Outcomes On the successful completion of the Unit you should be able to: - Build a strong quantitative skill set for business decision making. - Create statistical models for studying relationship amongst business variables. - Demonstrate proficiency in the use of statistical software for quantitative modelling.

Program Learning Outcomes 1. Business Knowledge 2. Critical Thinking 3. Business Analysis and Problem-Solving

- Evaluate underlying theories, concepts, assumptions and arguments in business related fields.

1. Business Knowledge 2. Critical Thinking

- Identify problems within real-world constraints and collect data for decision making. - Manage, analyse, evaluate and use information efficiently and effectively. - Demonstrate coherent arguments when recommending solutions. - Communicate confidently and coherently to a professional standard both orally and in writing. - Defend data integrity. - Analyse data and report results professionally and ethically.

2. Critical Thinking 3. Business Analysis and Problem-Solving 4. Communication 4. Communication 6. Ethical and Social Responsibility

3. Assessment Assessment Title

Program Assessment Individual/ Assessment Learning Length Outcomes Type Group Conditions Assessed

Weekly Homework

Small Continuous Assessment

Individual

Compulsory

Assignment

Assignment

Both

Compulsory

Mid-semester In-semester Exam (mid) Exam

Individual

Compulsory

1, 2, 3, 4

90 minutes

20%

Final Exam

Individual

Mandatory

1, 2, 3, 4

150 minutes

50%

Final Exam

Academic Honesty

Weight

2 attempts per 10% homework max 20 1, 2, 3, 4, 5 20% pages 1, 2, 3, 4

Due Time

Due Date

Closing Date

Weekly

Weekly

5:00pm 01-Nov-2019 08-Nov-2019 Mid Semester Exam Period Final Exam Period

Mid Semester Exam Period Final Exam Period

Week 4

Assessment details Weekly Homework Task Description There are 12 weekly Aplia homework. Unless otherwise stated, they will be available online in Aplia after a lecture is delivered. It is strongly recommended to start working early on these problem sets. You may cooperate with other students on problem sets; however, the final solutions must be done individually. Each problem set will be made available to students at the appropriate time each week and the due date is normally 11:00 pm of the following week Sunday. No late submissions are accepted. Each problem set is worth 1% and the best 10 marks will be counted to up to 10% of the final mark. The problem sets will be marked and graded automatically by Aplia. You are allowed to attempt a problem set for up to two times, and in the case, your mark will be the average of the two attempts.

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Make sure that your internet connection is secure when attempting the weekly online problem sets. The lecturer is unable to reset Apila for your attempt. You must check the University ICT system maintenance status before you attempt an online assessment task.

Assessment Criteria Apply appropriate quantitative skills to analyse a given set of business data and interpret the results. Analyse data using parametric and non-parametric methods and criticize the contradicting results. Prepare arguments for making business decisions. Build a very good regression model from business data to study linear relationship amongst variables and use it for prediction.

Feedback - What, when and how feedback will be provided for this assessment Aplia can show references to the questions asked and provide explanations to the questions answered incorrectly. Students may make an appointment with their lecturer for further explanation to the incorrectly answered questions or post their questions on Ed Discussion Board. Mark of this assessment task will be posted on Canvas before the final exam.

Assignment Task Description This assignment is worth 20% of the final mark. It consists of two parts. Part 1 is individual and has to be done in Aplia Part 2 must be done in a group of 3 to 4 students. Students are allowed to form a group with any QBUS5001 students. The assignment submission has to be done via Canvas. The late penalty for this assignment is 5% of the assignment mark per day or part of a day after the due date. The closing date is the last day on which an assignment will be accepted for marking.

Assessment Criteria 1. Methodology used is the most appropriate to the aims and objectives of the task 2. Data/information gathering/processing 3. Context in which subject is used 4. Conclusions 5. Analysis 6. Problem solving 7. Critical reasoning / critical thinking 8. Reflection/evaluation 9. Interactive and group skills (include. Teamwork, Negotiation/micro-politics & empathy)

Feedback - What, when and how feedback will be provided for this assessment Incorrect answers in the assignment will be identified clearly and reasons may be given. Assignment will normally be returned to students within 2 weeks after the due date. Solution to the assignment will be available on Canvas after all students submit their assignment. Mark of this assessment task will be posted on Canvas within 2 weeks after the due date. Students may make an appointment with the lecturer to discussion their performance in the assignment.

Mid-semester Exam Task Description This mid-semester exam is worth 20% of the final mark and will be 90 minutes long. The topics covered will

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be announced by the lecturer on Canvas. This exam does not require students to use a computer. A past mid-semester exam paper will be given to students to practice. The Business School has determined that second replacement exams (both mid-semester and final) will not be offered for this unit of study should a student submit two special considerations for the same exam as this unit forms part of the professional accounting accreditation pathway. Should a student be granted a replacement exam via special consideration, and is then unable to attend or does not complete the replacement exam, any subsequent special consideration will result in a DC grade (Discontinue Without Fail).

Assessment Criteria 1. Use of literature/ Knowledge of theory 2. Methodology used is the most appropriate to the aims and objectives of the task 3. Context in which subject is used 4. Conclusions 5. Analysis 6. Problem solving

Feedback - What, when and how feedback will be provided for this assessment An exam review session will be conducted in Week 11 by the Discipline of Business Analytics. Students will have the opportunity to view their own exam answer script. A list of common errors and weaknesses will be posted on Canvas. Ongoing review and face-to-face feedback during consultation hours can also be arranged. After the exam, the Unit Coordinator will identify students who are at risk of failing this unit. These students must submit a study plan and the Unit Coordinator may offer extra support to their learning.

Final Exam Task Description This final exam is worth 50% of the final mark and will be 150 minutes long. The topics covered will be announced by the lecturer on Canvas. This exam does not require students to use a computer. A past final exam paper will be given to students to practice. The Business School has determined that second replacement exams (both mid-semester and final) will not be offered for this unit of study should a student submit two special considerations for the same exam as this unit forms part of the professional accounting accreditation pathway. Should a student be granted a replacement exam via special consideration, and is then unable to attend or does not complete the replacement exam, any subsequent special consideration will result in a DC grade (Discontinue Without Fail).

This assessment is listed as MANDATORY which means you must undertake the assessment and achieve at least 40% of the available marks in that assessment. Students who fail to achieve this minimum standard in this assessment, even when their aggregate mark for the entire unit of study is above 50%, will be given a Fail grade for this unit. As a result a student's academic transcript will show a Fail grade and the actual mark achieved if the final mark of the unit is between 0-49 and a Fail grade and a capped moderated mark of 49 for all other final marks. Assessment Criteria 1. Use of literature/ Knowledge of theory 2. Methodology used is the most appropriate to the aims and objectives of the task 3. Context in which subject is used 4. Conclusions

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5. Analysis 6. Problem solving

Feedback - What, when and how feedback will be provided for this assessment An exam review session will be conducted by the Discipline of Business Analytics. Students will have the opportunity to view their own exam answer script. This exam review session will be held within one week after the exam results are announced. Students who plan to attend this session may need to adjust their travel plan. The Discipline of Business Analytics will not offer alternative review sessions.

4. Other Resources for Students All lectures and seminars are recorded and will be available within the LMS for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes. Main Textbook(s): Selvanathan, E.A. , Selvanathan, S. & Keller, G. (2017) Business Statistics (Australia & New Zealand 7th Edition). Cengage Learning, Australia

This textbook comes with an eResource suite that gives students instant access to research database “ Search me! Business Statistics” and Aplia online learning. Aplia integrates an online version of the book so students are easily directed back to review the areas where they need more help. Computing Packages: (Important to this unit) MS Excel with Data Analysis Toolpak Data Analysis Plus add-in for Excel - Instructions for installation of Data Analysis Plus add-in are available on Canvas.

Online Resources: (Important to this unit) Canvas (http://canvas.sydney.edu.au) - Canvas provides the main online learning support. It is essential that you log in at least twice per week to keep abreast of unit-wide announcements and use the resources to supplement your learning. Aplia (www.aplia.com) – The key for using Apila will be announced before the end of Week 1.

Additional Learning Support: Peer-Assisted Study Sessions (PASS) Maths for Business workshops Peer Learning Groups (PLG) - This is a "Let-Students-Help Students" project initiatived by Dr Boris Choy in 2015 and is supported by the Discipline of Business Analytics. Additional Readings: (Useful to this unit) Black, et.al. (2013) Australiasia Business Statistics. John Wiley & Sons, Australia. Hill, R.C., Griffiths, W.E. & Lim, G.C. (2011) Principles of Econometrics, 4th Edition. John Wiley. G. Keller, G. & Wooldridge, J. M. (2011) Principles of Econometrics. Cengage Learning. Wooldridge, J. M. (2009) Introductory Econometrics, 4th Edition. Cengage Learning,

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Gujarati, D. (2006) Essentials of Econometrics, 3rd Edition. McGraw-Hill.

PASS Peer-Assisted Study Sessions (PASS) is a peer-facilitated, cooperative student support scheme aiming to improve students' academic performance by providing extra, free learning opportunities with trained student facilitators. Each session includes problem solving practice in areas directly related to understanding the unit concepts more thoroughly. PASS features small class sizes and a friendly personal approach to help you reinforce key course requirements in a collaborative, active and social learning environment. Registrations open in the first week of semester. For more information or to register, please visit: https://sydney.edu.au/students/peer-assisted-study-sessions.html Email all enquiries about the PASS program to: [email protected] Maths in Business The Business School provides a free series of workshops with student facilitators open to all students interested in mastering both basic and upper intermediate level mathematics. The program includes workshops from basic to intermediate level maths and Excel, both of which are fundamental skills for any aspiring business student.The Maths in Business program helps ensure high achievement throughout your business degree. Most foundational units of study require a firm understanding of maths, and this is essential to senior units in accounting, business analytics and finance. Registrations open in the first week of semester. For more information or to register, please visit: https://sydney.edu.au/students/maths-in-business.html Email all enquiries about the Maths in Business program to: [email protected]

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5. Unit Schedule Week

List of Topics

1 5 August 2019

Statistics, Data Collection and Sampling

2 12 August 2019

Probability, Random Variables and Probability Distributions

3 19 August 2019

Discrete and Continuous Probability Distributions

4 26 August 2019

Introduction to Statistical Inference

5 2 September 2019

Parameter Estimation

6 9 September 2019

Hypothesis Testing for One Population

Assessments Due

7 Hypothesis Testing for Two Populations 16 September 2019 8 Analysis of Variance (ANOVA) 23 September 2019 9 Non-parametric Statistics 7 October 2019 10 Linear Regression Analysis I 14 October 2019 11 21 October 2019

Linear Regression Analysis II

12 28 October 2019

Linear Regression Analysis III

13 4 November 2019

Revision

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Mid-Semester Exam

Assignment due

7...