QTM7010-51 Spring Semester, 2001
Statistics Mondays
Babson College 6:30 p.m.-9:00 p.m.
Three Credit Hours Gerber 102
INFORMATION SHEET
Instructor Office Hours
John McKenzie Mondays, 5:45 p.m.-6:15 p.m.,
Babson 315 and by appointment
(781) 239-4479(and Mondays, 10:45 a.m.-11:15 a.m., 12:30 p.m.-1:00 p.m.,
(781) 239-6416 (FAX)and Fridays, 10:45 a.m.-11:15 a.m., 12:30 p.m.-1:00 p.m.,
starting in Gerber 102)
Internet Address
Description
Introduces some of the tools that enable managers to analyze information including the collection, classification, summarization, and analysis of data. Topics include probability; measures of central tendency and dispersion; discrete and continuous distributions, with emphasis on the binomial and normal distributions; sampling and sampling distributions; point and interval estimation; and hypothesis testing, correlation, and regression. Course involves the use of the computer in solving problems via programs and statistical packages.
Objectives
- To familiarize the students with the useful, efficient and proper (as well as the improper) methodologies for summarizing data for the purpose of effective communication of information.
- To develop an understanding of the likelihood of occurrence of uncertain events and how they relate to managerial decision-making.
- To survey the fundamental theory and methods of statistical inference, particularly as they apply to modeling for managerial decision-making.
- To provide hands on experience and foster an appreciation for the computer as an essential tool in assessing with the performance of the various statistical analysis techniques.
Text
McClave, James T., Benson, P. George, and Sincich, Terry (2001), Statistics for Business and Economics, Eighth Edition, bundled with the Student Version of Minitab, Upper Saddle River, New Jersey: Prentice-Hall (BL)
Equipment
A hand calculator that has keys for logarithms (log or ln) and powers
Two paper portfolio binders
Fifty 3" by 5" index cards
Two microdisks
Subdirectory
K:\FACULTY\MCKENZIE\QTM7010
QTM7010-51 Spring Semester, 2001
Graduate School Academic Code Statement
This course requires you to uphold the principles and philosophy of the Babson Graduate School Code of Academy Conduct. As stated in the Code, you are expected to carry out your assignments with integrity, honesty, and appreciation for other members of the Babson Community. You are also required to abide by the parameters set forth with each assignment and to seek clarification from the professor if these guidelines are not clear. If you are unfamiliar with the Code, please refer to your Student Handbook or obtain a copy from the Dean’s office.
Reading Assignments
Reading assignments that we will (try to) follow may be found in the course syllabus. These assignments should be completed before the class meeting on the date indicated in the syllabus. Students are responsible for any changes made in class. Students are responsible for all readings and handouts, whether explicitly discussed afterwards in the class or not.
Class Participation
Class participation is encouraged. Since the subject matter of the course is quantitative, it is not anticipated that the students will be able to make a meaningful contribution to class discussion in the absence of careful preparation of the assigned readings.
Problem Assignments
The students, individually or in a team, are encouraged to do any of the problems at the end of the sections and chapters in the text. Specific problems that are central to the course will be given in class as the semester proceeds.
Problem assignments will not be formally collected or graded. A reasonable amount of time at the beginning of each class may be devoted to discussion of the problem assignments if so desired.
Project
Individual students or teams of students will carry out a complete statistical investigation using the techniques introduced in the class. Further details of this project will be given in class.
Quizzes
There will be two short quizzes. The dates for these quizzes are given in the syllabus. Quizzes are given to test your understanding of the reading assignments and what has been covered in class. They will also help motivate you to keep on top of the readings and help the instructor monitor your progress in the class. All quizzes are open book unless otherwise announced in class. The quiz with the higher score will count 10% and the quiz with the lower score will count 5%. If a student misses a quiz for any reason, the student should consult with the instructor about how that percentage of the grade will be made up.
QTM7010-51 Spring Semester, 2001
Examinations
There will be one midsemester exam and a comprehensive final exam. The dates for these exams are given in the syllabus. The exam with the higher score will count 35% and the exam with the lower score will count 30%. The exams will cover all work that precedes the exam on the syllabus. All exams are open book unless otherwise announced in class. A make-up examination will only be given to a student who misses an examination for either a medical reason or a non-preventable conflict (verified by the Graduate Dean’s Office). If student misses an examination without a non-sanctioned excuse, he or she will receive a zero for that examination. For those students with verified midsemester exam excuses, the final examination may serve as a comprehensive makeup examination.
Grades
The grades will be constructed from the following weighting scheme:
Project ………………...... ………….. . 20.0%
Quiz with Higher Score ...... …………...... 10.0%
Quiz with Lower Score…....….…………...... 5.0%
Examination with Higher Score...... ………………...... 35.0%
Examination with Lower Score...... …………… .... 30.0%
QTM7010-51 Spring Semester, 2001
Statistics Mondays
Babson College 6:30 p.m.-9:00 p.m.
Three Credit Hours Gerber 102
SYLLABUS
DayDateResponsibilitiesTopics
129 FebruaryMBS:1.1-1.7, Statistics, Data, and Statistical
Introduction to MinitabThinking
25 FebruaryMBS:2.1-2.11Methods for Describing Sets of Data
312 FebruaryMBS:3.1-.3.7Probability
419 FebruaryMBS:4.1-4.4,5.1-5.3, Quiz 1Discrete Random Variables, Continuous Random Variables
526 February MBS:6.1-6.3Sampling Distributions
65 March MBS:7.1-7.4,7.6Inferences Based on a Single Sample:
Estimation with Confidence Intervals
712 March MBS:8.1-8.5Inferences Based on a Single Sample:
Tests of Hypothesis
Spring Recess
826 March Midsemester Examination
92 April MBS:10.1-10.9Simple Linear Regression
109 April MBS:11.1-11.6Multiple Regression
1116 April MBS:11.1-11.6Model Building
1223 AprilMBS:16.1,16.3-16.4, Quiz 2Categorical Data Analysis
1330 April MBS:12.1-12.5,12.7Methods for Quality Improvement
147 May Final Examination