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ITM513 Quantitative Analysis for Business - Syllabus Spring 2010

 

       

Lecturer: Dr. Guy J. Cortesi [email protected] Office Hours: by appointment

Course Description:  This course is designed to train students to make business decisions using quantitative techniques. Analytic skills such as problem solving and critical thinking will be taught through the use of probability and logical reasoning. Concepts including hypothesis testing, simulation and regression will be covered with the aid of software packages. Students will work on projects involving quality control and forecasting. After reviewing the basics of business statistics, the following topics would be covered: probability and probability distributions (discrete & continuous), estimation, hypothesis testing, regression, time series analysis, forecasting, and quality control.

Prerequisite and Co-requisite:  ITM 510

Course Objectives:

ITM 513 will aim to teach students how to interpret and use data and to generate information that is deemed critical for decision-making in a business environment. Students will use Microsoft Excel with add-in software packages available in the CD (and included in the textbook).  These programs will expedite tedious manual work and allow more time to understand and interpret quantitative information and improve problem-solving and reasoning skills.  The course enhances students' analytical skills and also introduces decision support tools. Students will work on projects involving quality control and forecasting. 

Textbook

1. David P. Doane and Lori E. Seward: “Applied Statistics in Business & Economics”, 2nd Edition, 2009 McGraw Hill.  The book should include a CD (with Excel add-in MegaStat 2007, Learning Stats and Visual Statistics).

The textbook is required and will be used in class.

E-mail 

It is important for all course students to have an Internet-based e-mail account for this class. Students may use a university account or their own personal account.

Course Website

This course has its own web site, containing assignments and readings. Please consult this site for the latest information regarding this course. It is located on the Internet at:

<https://www.albany.edu/~gc227838/itm513>

Assessment

The accomplishment of course objectives will be assessed in class by applying the concepts for solving business-like problems in (1) individual homework assignments and (2) individual in-class exams.

Location and Teaching Style

All classes will be held in the classroom and during some classes the students will be in a Digital Class room to gain hands on experience using the software. Students are expected to bring their textbook along with the CD to each class session. With this organization, all students can maximally utilize the class time and improve their analytical and computer skills.

Grading

There will be two exams (max 50 points each), and two multi-part assignments (max 50 points each), totaling 200 points. (Assignments will have multiple parts, due on different days). Part of the exam is open book. No make-up exams will be offered. Part of the exam could be computer-based and would be given in the Digital Class room. Once the exam grades are posted or the exam papers are returned students have only one week to seek clarification and correction, if any, of the grade. 

Total possible points = 200.  The final grade is computed by dividing by two.

Grading Scale

A: 100-95 points A-: 94-90 points

B+: 89-87 points B: 84-86 points B-: 80-83 points 

C+: 79-76 points C: 75-70 points  

D: 69-60 points

F: 59 points and below

Participation

Each student is expected to participate in every class. Positive participation means speaking so everyone can hear; asking appropriate questions; replying to questions, contributing ideas and participating in discussion without dominating it; and helping others.  Positive participation creates a supportive learning environment in which other students feel comfortable asking questions and everyone contributes to the discussion. 

Positive participation requires that students come prepared for class.  This means distilling the terminology and major concepts of assigned readings; having points of personal interest in mind for discussion; having questions in mind for ideas that are unclear; knowing what the day’s topics will be and what assignments are due; and bringing appropriate texts, materials, and tools for the day’s class. 

Written and Verbal Expression

Being able to communicate effectively with all sorts of people is necessary for  sustained success in managing information systems.   Students are expected to use proper spelling and grammar and to adapt their speaking and writing to their audience.  Those who habitually use words, phrases, abbreviations or acronyms that may be unfamiliar to the audience without proactively explaining them in an understandable way, will have points deducted in written assignments and in class participation as applicable.

Class Attendance/Lateness

There will be a 15 minute break during each class. Students are expected to attend every scheduled class.  Students are responsible for all assignments, handouts, and work done in classes that are missed.

Academic Honesty

Students are expected to understand and abide by the “Standards of Academy Integrity” in the Graduate Bulletin at:

https://www.albany.edu/grad/requirements_general_admissions.html#standards_integrity

Class Schedule

The class meets on Tuesday from 5:45-8:35PM in SL G02.  The schedule of classes as well as the other information in this syllabus is subject to change.  The latest, authoritative version is the current one posted this website. All necessary changes will be announced in class.  Exam dates will not be changed.


Date/Class# Activities Readings / Notes H/W and Assignments
1/26 (1)
Course / Stat Overview, Data Collection, Displaying and Summarizing Data Chapters 1, 2, & 3 Install MegaStat for Excel, Visual Stats and Learning Stats
2/2 (2)
Descriptive Statistics
Chapter 4

2/9 (3)
Probability
Chapter 5
Assignment 1a due - 15 points
2/16
NO CLASS  - School Break


2/23 (4)
Discrete Probability Distributions
Chapter 6

3/3 (5)
Continuous Probability Distributions
Chapter 7
Assignment 1b due - 15 points
3/9 (6)
Sampling Distributions and Estimation
Chapter 8

3/16 (7)
EXAM -- 1
Chapter 1-8
Assignment 1c due - 20 points
3/23 (8)
One-Sample Hypothesis Tests
Chapter 9

3/30
NO CLASS - School Break


4/6 (9)
TWO-Sample Hypothesis Tests
Chapter 10
Assignment 2a due - 15 points
4/13 (10)
Multiple Regression
Chapter 13

4/20 (11)
Time Series Analysis
Chapter 14
Assignment 2b due - 15 points
4/27 (12)
Statistical Quality Control
Chapter 17

5/4 (13)
EXAM -- 2
Chapters 9,10, 13, 14 & 17
Assignment 2c due - 20 points

Assignments

Two assignments, each consisting of several problems on the topics listed above will be assigned. Assignments should be submitted in class on the due date. Late assignments will not be accepted. Please do not e-mail assignments to my e-mail address. The assignments should be entirely your own.  It is your responsibility to avoid any behavior that might lead me to question your integrity. Any suspicion will result in no points for the assignment(s), projects and exams while the proven academic dishonesty in any form will result in a FAILING GRADE FOR THE COURSE.

If you have any questions regarding the assignments and exams, please see me in person or send email directly to me.

Updated 2/7/2010  gjc