Quantitative Methods in Business, Bus 1B

QUANTITATIVE METHODS IN BUSINESS, BUS 1B

COURSE SYLLABUS

Fall 2014

Class Hours: Tuesday8-9:30 AM

Location: TBD

Dr. William J. Oliver781-728-9455

Email: Please put “BUS 1B” in the subject line

Office: Lemberg 11 (in the basement, by the Coke machine)

Office Hours: Tuesday 9:30-12:00, Friday 9-12:00

Course Objectives:

This course prepares students in three ways for the quantitative analysis required in business—both at Brandeis and after graduation. . First, it teaches students to perform the basic quantitative analyses that are foundational to all aspects of business—from accounting to human resource management. Second, the course is designed to improve students’ skills as critical consumers of data analysis. They will learn to judge the right tool for an analysis. Students will critique actual published studies to understand how data analyses have been performed or evaluated, especially looking for evidence of tools applied improperly. For example, analysis that fails to take variance into account, infers causation from correlation, or suggests trends using cross sectional data that can only be made using longitudinal data. Finally, the course anticipates that years after this single two-credit course is over, students’ will still need to keep fresh on when to use tools, how to use them, and how to evaluate the results. So, the course is designed around learning to use the vast array of web-based teaching aids to keep skills fresh. Students will to learn to recognize the type of relevant data analysis, and then seek out helpful tools to remind them how to perform the analysis.

Through this course, students will build skill data using Excel: loading large data tables, summing, sorting, calculating trends and ratios, and using Excel functions such as “NPV” to calculate net present value. Such analysis allows students to document history and create financial models based on historical data. Students will also develop initial skills in statistical analysis: garnering meaning from data with properties of normal distribution. Tools of this analysis include averages, probability, means comparisons and ordinary least squares regression. These allow students to evaluate more complex real-world situations in order to analyze customer segmentation, and conduct more sophisticated forecasting and business modeling.

In addition to conducting analysis, students will learn to create tables and charts to present results of analysis in powerful, meaningful tables and charts. After creating them, students will learn how to move them into MSWord and PowerPoint documents.

Core concepts of the course:

1. Understanding data and its presentation
2. Basic Excel analysis: sum, linking, consolidating, ratios, trends, CAGR
3. Basic Excel functions: growth, average, variation, rank, percentile, IRR, NPV
4. Graphs: bar, scatter plot and line graphs, adjusting graph parameters, choosing the right axis arrangement, choosing the right graph style
5. Summarizing data in a table: pivot tables, consolidation
6. Excel data analysis add-in: histogram, average, median, mode, standard deviation, t-test
7. Expected value: basic understanding of probability. Calculating expected value
8. Means testing: comparing a value to a sample or population, and comparing two populations
9. Simple regression: data requirements, conducting regression, evaluating the model for significance, understanding parameters

Teaching Approach:

The course will use these teaching techniques:

• Text and DVD tutorials will introduce the material and provide exercises to practice
• Mini-lectures will discuss and demonstrate why and how analysis tools are used
• Practicing in class,the professor will assist students as they practice what they learned in the text and tutorials
• Discussion in class of actual data analysis reports to understand what methods were used, and any issues with those analyses.
• Wiki—students will findExcel and data analysisguides and tutorials on line, assess them for usefulness, and together build a resource list of linkstouse after the course. Each student must find and post at least one useful link, the average last term was 3.6 posts (do you want to be merely average?) This is in a Googledoc located at:

• Weekly practice sets—these are opportunities to practice the subject matter of the week through an exercise with data supplied along with a set of requirements. Practice sets are on the DVD
• Weekly data presentation assessment. You are to find one table or graph in a published source: textbook, newspaper or website. Paste the graph (scan if necessary) into a MSWord document. Then, in a few sentences explain the graph or chart: explain how the data was created; describe the table or graph (graph type, x and y axis, etc.); what is the point of the graph or table; and most important what do you think of the data presentation? That is, is the data being abused in any way to says something it does not really say? Each week, add the most recent evaluation to the top of your document and re-submit it to LATTE. This will create a single document with the first assessment at the bottom, and the last at the top of the paper. Date each assessment.
• Midtermexam. This will require students to conduct analysis in Excel and submit results on LATTE.
• Final presentation. Groups of students will present a data analysis evaluating a data set they select. Presentations must be in PowerPoint and describe: the question, data source, how the data was moved into Excel including any changes required, description of what analyses were performed, output graphs and tables, and a final conclusion from the data analysis. Details on LATTE.

Workload

The workload will reflect that this is only a 2 credit course. Previously, the class reported that they invested an average of 5 hours per week outside class. That matches the 2-3 hours of homework per credit hour widely reported on university websites around the world. However, some students need more time to learn the material. Your workload will likely be different from the norm.

Participation:

Students learn best when they talk about what they are learning. Questions, challenges, comments and the like are expected. This is not a lecture class. You are expected to learn the basics through the readings and weekly practice sets. In class, we will talk about what you have learned. Active participation will lead to a goodparticipation grade. Since this course is based on sharpening each other’s skills in class,attendance is required; no absences will be excused.

Text and Software

Required: Mike Girvin, Slaying Excel Dragons. You may obtain these at the bookstore or on line. Order the textand tutorials on DVD ($40), or the DVD along with a paper book ($60) at: Note: much of this information is on youtube.com. However, it is lacking in organization and will be hard to tie to the homework assignments—so buy the DVD and text.

Students are expected to bring to every class session a Windows computer with Excel version 2010 or 2013. If you do not have Excel, it is can be purchased on line (e.g. from amazon.com) as part of Microsoft Office suite for about $110-130. Or, students can purchase four years of access to the Office Suite on the cloud for about $80. Do not use versions earlier than 2010, or non-licensed versions.

Mac Computers

This course (like Brandeis IT) supports Windows computers. If you have a Macintosh computer make sure you have version 2011. You will find that some of the Excel commands and capabilities are different from Excel for Windows. The course will not be geared to Mac, though you can do well in the course with one. It will however require a bit of adaptation. If you own a Mac, you will be able to learn all the material. It will simply be a bit harder because some of the Excel features are implemented differently in Excel for the Mac. The Wiki (see above) already includes many helpful lists and descriptions that will help you convert the Windows-oriented instructions in class and on the DVD to the world of Apple. Hopefully, your class will add even more. It is a shame that Microsoft chose to treat the Apple environment differently. Though frustrating, the course reflects a “real world” situation; Windows is overwhelmingly the standard in business, and “bosses” have little patience for “I can only use a Mac”.

Grading: 25% class and wiki participation, 15% weekly practice sets, 10% weekly data presentation assessment, 25% midterm exam, and 25% final paper

Prerequisites: none

Before the first class session: Make sure Excel is loaded in your computer and you know how to launch it. Complete the homework as indicated for the first session, below.

Seating

Please select a seat on the first day of class, and use that seat for each class session. This helps the professor get to know you (i.e. it helps establish your class participation grade). Please bring the name tent that you create the first day.

Academic Honesty

You are expected to be honest in all of your academic work. Instances of alleged dishonesty will be forwarded to the Brandeis Office of Academic Integrity. Potential sanctions include failure in the course and suspension from the University. For the University policy, please see section 5 of the Rights and Responsibilities Handbook.

Special Accommodation

If you are a student with a documented disability on record at Brandeis University and wish to have a reasonable accommodation made for you in this class, please see me immediately.

Course Calendar (subject to change)