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BUS 215.02 – Introduction to Business Statistics; Fall 2017

Mondays and Wednesdays: 2:30 PM – 3:50 PM; Harriman Hall Room 111

Professor Thomas R. Sexton; Office: Harriman Hall Room 317

E-Mail: Thomas.Sexton@StonyBrook.edu ; Telephone: (631) 632-7181

Office Hours: Mondays and Wednesdays 11:30 AM – 12:30 PM

Course Description The application of current statistical methods to problems in the modern business environment. Topics

include probability, random variables, sampling techniques, confidence intervals, hypothesis testing, and

regression. Students analyze real data sets using standard statistical software, interpret the output, and

write extensively about the results. Prerequisite: BUS Maj/Min, CME Major, or ISE Major. Advisory

Prerequisites: BUS 110, 111, 112, 115, and MAT 122 or higher. BUS or ISE Major: BUS 210

Goals of the Course In your career, you will often face situations in which a clear understanding of statistical thinking and

decision-making methodology will be essential. I have designed the course to:

1. Introduce the basic concepts and methods of statistics and decision making,

2. Demonstrate the applications of statistics and analytical decision making in business,

3. Enable you to perform statistical and decision analyses using appropriate software, and

4. Help you to become a wise consumer of statistical and decision analyses performed by

others.

Why Business Students Need Business Statistics Let’s say that you’re interested in finance. Then you know that investment strategy is all about return

and risk. How will a portfolio fare in an uncertain world? Why do well-informed investors include funds

that perform well in certain circumstances and others that perform poorly under the same

circumstances? How can you measure the volatility of a stock relative to the market? If you understand

uncertainty, expected value, variance, regression analysis, and correlation, then you have a strong

competitive advantage over those who do not.

Let’s say that you’re interested in marketing. Then you know that successful marketers have a good

understanding of the markets they target. How do they obtain such knowledge? How do marketers

design surveys and other data collection devices that will give them a clear and unbiased look at their

markets? What traps must they avoid so as not to make serious mistakes? How many people must they

survey, and how must they select those people, to obtain the precision that they need without incurring

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undue cost? If you understand the principles of random sampling, the types of nonrandom errors that

can destroy a data set, and some simple ways to judge the size of the sampling error present in any data

set, then you have a strong competitive advantage over those who do not.

Let’s say that you’re interested in operations. Then you know that keeping a business running smoothly

requires that you keep in touch with current operations. How do you know when a production line is

producing too many defective items and needs adjustment, repair, or recalibration? How can you tell

which suppliers are the most dependable links in your supply chain? What inventory levels should you

maintain to keep customers happy and costs low? Will a proposed new computer information system

speed customer orders or will it simply be a large expense with little positive impact on the company’s

bottom line? If you understand the principles of sampling distributions, estimation, confidence intervals,

and hypothesis testing, then you have a strong competitive advantage over those who do not.

Whether you are interested in human resource management, information systems management, health

care management, or any other business discipline, you will need to understand how to deal with

problems like these. Whether you work in energy, transportation, retailing, business-to-business, real

estate, or any other industry, you will find yourself making decisions in an uncertain environment in

which your ability to analyze data (and understand analyses performed by others) will be a key to your

success. That’s why business students need a course like this.

College of Business Learning Objectives This course contributes to the College of Business Learning Objectives in the following way:

LEARNING OBJECTIVE BUS 215 ACTIVITY

Critical Thinking,

Problem Solving, and

Decision Making

In this course, you will learn how to think critically about business problems

and how to apply standard statistical and decision analytical methods to

solving business problems and to improving business decision making.

Course Learning Objectives When you have successfully completed this course, you will be able to:

1. Recognize the many types and sources of business-related data

2. Recognize the many acceptable and unacceptable ways to collect data to support business

decision making

3. Summarize data using summary statistics and statistical charts to support business decision

making

4. Understand the major importance of variability in business decision making

5. Understand and be able to use basic probability concepts and probability distributions to solve

problems related to business

6. Understand the basic concepts of sampling and the nature of sampling distributions in business

decision making contexts

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7. Compute and interpret confidence intervals for percentages and means and apply them in

business decision making contexts

8. Compute and interpret one- and two-sample hypothesis tests for percentages and means and

apply them in business decision making contexts

9. Construct and interpret univariate and multivariate regression models and apply them in

business decision making contexts

I will assess your learning by your performance on assignments and exams.

Textbook and Computer Software The textbook is Applied Statistics in Business and Economics, 5e, Doane and Seward, McGraw-Hill/Irwin.

The textbook available through the bookstore is packaged with ConnectPlus, which includes Connect

and access to the online textbook. If you decide to purchase the textbook elsewhere, then I highly

recommend that you also purchase ConnectPlus. You will need Connect in this course.

We will use Microsoft Excel for most of our statistical calculations. If you wish, you may download and

install an Excel add-in called Megastat at no charge from:

HTTP://HIGHERED.MHEDUCATION.COM/SITES/0070000237/STUDENT_VIEW0/MEGASTAT_TUTORIALS.HTML. You can

visit HTTP://IT.STONYBROOK.EDU/SOFTWARE/TITLE/MICROSOFT-OFFICE to receive Microsoft Office for free.

Connect Plus Connect Plus is an online system in which you will complete your assignments and take exams. Please

review the PowerPoint presentation entitled “Connect-Blackboard-FDOC_2011” in the Documents

section of our Blackboard web site.

Class Attendance and Participation Your attendance and your participation in every class are important! You cannot succeed in this course

if you miss class. At the beginning of each class meeting, I will randomly select 10 names from the class

roster and record whether each selected person is present. You may be selected two or three class

meetings in a row, or you may not be selected for several consecutive class meetings. At the end of the

semester, your attendance grade will be the percentage of times that you were present when called.

I will monitor your participation in class discussions. This means that you should always ask questions

when you are unclear on something, and you should offer answers or helpful comments when

appropriate.

When we meet, we will focus on activities, demonstrations, and discussions designed to enhance your

learning of the course material. I will not discuss every topic in detail – I expect you to read each chapter

before we discuss it – I will focus on the more challenging aspects of the topic in class.

Please see the web link “Why Do I Have to be On Time?” in the Documents section of Blackboard.

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Blackboard Web Site The Blackboard web site for this course will serve many important functions. You will use Blackboard to

access your Connect assignments. I will use Blackboard to make announcements, distribute course

materials, and record grades. You can access Blackboard at HTTPS://BLACKBOARD.STONYBROOK.EDU/. For

help, visit HTTP://IT.STONYBROOK.EDU/SERVICES/BLACKBOARD. You can also call 631-632-9602 or e-mail

HELPME@STONYBROOK.EDU.

Class Schedule Here is our daily class schedule:

Class Day Date Chapter/Topic

1 Monday 28-Aug-17 Introduction to the course

2 Wednesday 30-Aug-17 2. Data Collection

Monday 4-Sep-17 Labor Day (No Class)

3 Wednesday 6-Sep-17 3. Describing Data Visually

4 Monday 11-Sep-17 4. Descriptive Statistics

5 Wednesday 13-Sep-17 5. Probability

6 Monday 18-Sep-17 5. Probability

7 Wednesday 20-Sep-17 5. Probability

8 Monday 25-Sep-17 6. Discrete Probability Distributions

9 Wednesday 27-Sep-17 6. Discrete Probability Distributions

10 Monday 2-Oct-17 6. Discrete Probability Distributions

11 Wednesday 4-Oct-17 6. Discrete Probability Distributions

12 Monday 9-Oct-17 7. Continuous Probability Distributions

13 Wednesday 11-Oct-17 Connect Exam #1

14 Monday 16-Oct-17 7. Continuous Probability Distributions

15 Wednesday 18-Oct-17 8. Sampling Distributions and Estimation

16 Monday 23-Oct-17 8. Sampling Distributions and Estimation

17 Wednesday 25-Oct-17 8. Sampling Distributions and Estimation

18 Monday 30-Oct-17 9. One-Sample Hypothesis Tests

19 Wednesday 1-Nov-17 9. One-Sample Hypothesis Tests

20 Monday 6-Nov-17 10. Two-Sample Hypothesis Tests

21 Wednesday 8-Nov-17 10. Two-Sample Hypothesis Tests

22 Monday 13-Nov-17 Connect Exam #2

23 Wednesday 15-Nov-17 10. Two-Sample Hypothesis Tests

24 Monday 20-Nov-17 12. Simple Regression

Wednesday 22-Nov-17 Thanksgiving Break (No Class)

25 Monday 27-Nov-17 12. Simple Regression

26 Wednesday 29-Nov-17 12. Simple Regression

27 Monday 4-Dec-17 13. Multiple Regression

28 Wednesday 6-Dec-17 13. Multiple Regression

Tuesday

12-Dec-17 5:30 PM - 8:00 PM

Final Exam on Connect

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Examinations The exams will be given on the dates shown above. All three exams will be given online using Connect. I

will not give make-up exams without (a) advanced notice that you will miss the exam, and (b) written

documentation explaining the reason for your absence. I will judge the adequacy of the reason and the

appropriateness of a make-up exam. I reserve the right to format the make-up exam as an oral exam.

The exams cover the material shown here:

EXAM CHAPTERS

Connect Exam 1 2, 3, 4, 5, 6

Connect Exam 2 7, 8, 9

Final Exam 10, 12,13

You will take the Connect Exams during class time on the indicated dates. You do not need to come to

class on those days. Log in to Connect at the beginning of class and take the exam. The exam will time

out at precisely the end of class. You may use any resources you want except other people during the

exam.

Grading System The following table shows the grading allocation for the course. You will need a 90% course average to

receive a final grade of A, 80% for a B, 70% for a C, and 60% for a D. Of course, I will also use plus and

minus final letter grades. I do not “curve” grades – potentially everyone in the class can receive an A.

You will be graded based on your performance, not that of anyone else in the class!

Lowest Exam Grade 20%

Middle Exam Grade 23%

Highest Exam Grade 25%

LearnSmart Assignments 10%

Connect Assignments 15%

Class Attendance 7%

Stony Brook University Syllabus Statements Disability Support Services (DSS) Statement: If you have a physical, psychological, medical, or learning

disability that may impact your course work, please contact Disability Support Services, 128 ECC

Building, (631) 632-6748, or DSS@STONYBROOK.EDU. They will determine with you what accommodations

are necessary and appropriate. All information and documentation is confidential.

Students who require assistance during emergency evacuation are encouraged to discuss their needs

with their professors and Disability Support Services. For procedures and information go to the following

website: HTTPS://EHS.STONYBROOK.EDU/PROGRAMS/FIRE-SAFETY/EMERGENCY-EVACUATION/EVACUATION-GUIDE-

PEOPLE-PHYSICAL-DISABILITIES and search Fire Safety and Evacuation and Disabilities.

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Academic Integrity: Each student must pursue his or her academic goals honestly and be personally

accountable for all submitted work. Representing another person's work as your own is always wrong.

Any suspected instance of academic dishonesty will be reported to the Academic Judiciary. For more

comprehensive information on academic integrity, including categories of academic dishonesty, please

refer to the academic judiciary website at WWW.STONYBROOK.EDU/ACADEMICINTEGRITY.

Critical Incident Management: Stony Brook University expects students to respect the rights, privileges,

and property of other people. Faculty are required to report to the Office of Judicial Affairs any

disruptive behavior that interrupts their ability to teach, compromises the safety of the learning

environment, or inhibits students' ability to learn. Faculty in the HSC Schools and the School of Medicine

are required to follow their school-specific procedures.

The College of Business Statement Regarding Academic Dishonesty The College of Business regards any act of academic dishonesty as a major violation punishable by

severe penalties, including dismissal from the University. University policy requires that instructors and

GAs report all suspected cases of academic dishonesty to the appropriate Academic Judiciary

Committee, which is empowered to take strong action against violators, including expulsion from the

University. Please note that there is a link to the Academic Judiciary web site on the Blackboard home

page.

Under no circumstances will the College of Business permit cheating of any kind. Many activities

constitute academic dishonesty. The following list is not inclusive, only suggestive:

On Examinations: ▪ Referring in any way to the examination paper of another student.

▪ Use of materials (notes, books, etc.) not explicitly permitted by the instructor.

▪ The exchange of any information concerning the examination with any other person after the

examination has begun.

On Papers: ▪ The submission in whole or part of the work of another person as if it were your own.

▪ The citation of the work of others without proper reference and credit.

If you have any questions about the honesty of an action, please consult with any faculty member for

clarification. We will not construe such consultation as evidence that you have committed any violation

or are even contemplating it. We will not accept failure to understand the rules as an excuse.

If you are considering any act of academic dishonesty, the College of Business advises you in the

strongest possible terms to abstain. The consequences associated with academic dishonesty are

substantial enough literally to ruin your career. DON’T DO IT.

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What is Plagiarism? There is nothing wrong with using the words or thoughts of others or getting help. Indeed, it is good to

do so as long as you explicitly acknowledge your debt. It is plagiarism when you pass off the work of

others as though it were your own:

▪ Copying without quotation marks or paraphrasing without acknowledgment from the writing of

someone else.

▪ Using someone else’s facts or ideas without acknowledgment.

▪ Submitting work in one course that you submitted for credit in another course without the

permission of both instructors.

You can strengthen your paper by using material by others – as long as you acknowledge your use, and

as long as you use that material as a building block for your own thinking rather than a substitute for it.

When you use published words, data, or thoughts, you must footnote your use. (See any handbook or

dictionary for footnote formats.) When you use the words or ideas of friends or classmates, you should

thank them in an endnote (e.g., “I am grateful to my friend so-and-so for the argument in the third

paragraph.”) If friends just give you reactions but no suggestions, you need not acknowledge that help in

print (though it is gracious to do so).

The academic and business worlds depend on people using the work of others for their own work.

Dishonesty destroys the possibility of working together as colleagues. Faculty and researchers do not

advance knowledge by passing off the work of others as their own. Students do not learn by copying

what they should think out on their own. Therefore, the University insists that instructors report every

case of plagiarism to the Academic Judiciary Committee, which keeps records of all cases. The

recommended penalty for plagiarism is failure for the course and possible expulsion from the

University.

Unintentional plagiarism is still plagiarism. You cannot plead ignorance. Therefore, if you have any

questions about the proper acknowledgment of help, be sure to ask your instructor.