MG 620-Statistics for Business Decisions-Winter 2019x(3).docx - MG 620 Statistics for Managerial Decision Making Dr Stephanie Cato Instructor’s

MG 620-Statistics for Business Decisions-Winter 2019x(3).docx

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MG 620: Statistics for Managerial Decision Making Dr. Stephanie Cato Instructor’s Contact Information: Office: Bronx, Milavec Hall Room 104 Office Hrs. Sats/Suns 1:00-2:00 pm Email: [email protected] Course Information: Meeting Day: Saturdays and Saturdays Course #: MG 620 -154 Credits: 3 Meeting Times 10:00 am -1:00 pm Classroom Location Milavec Hall R104 Pre-requisite: None I. WELCOME Welcome to Statistics for Business Managers (MG620 154) and to an exciting session. I am Dr. Stephanie Cato and I will be your instructor for this semester. I am accessible by email ([email protected]) so please do not hesitate to contact me with any questions. After class on the days (Saturdays and Saturdays) we meet, I will be available from 1:00-2:00 pm. The overall goal is to facilitate the learning process and make learning fun by assisting you in achieving your goals; looking forward to working with you all. Warmest personal regards! II. COURSE DESCRIPTION The purpose of this course is to examine research methodologies that are useful in business. Topics are framed around functional areas of business like accounting, economics and finance, information systems, management and marketing. Students learn how to critically evaluate the reliability and the validity of both informal and formal research using statistical software tools and spreadsheets. Concepts include data collection techniques, quantitative and qualitative analysis, and the interpretation and presentation of results. Specific statistical topics include descriptive statistics; inferential statistics and probability theory; and correlation and regression analysis. The focus of this course is to provide students with statistical tools and analytical techniques for data-driven managerial decision-making. III.PREREQUISITES KG 583 Foundations of Statistics MG 620 Course Outline-Winter 2019 Page 1 of 17
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IV. LEARNING OBJECTIVES By the end of this course, students will be able to: Use the DCOVA framework (Define, Collect, Organize, Visualize, and Analyze) as an integrated approach for applying statistics to help solve business problems presented in course case studies and team projects. Discuss and understand the importance of research methodologies and statistical analysis to the business decision-making process. Employ probability concepts and standard probability distributions (binomial and normal) to predict trends and strategize. Construct an interval, assess its validity, interpret its significance and use the confidence interval to formulate a plan. Conduct an appropriate test, assess the validity of the test and apply those results to the decision-making process. Use regression analysis (simple, multiple) to fit a trend line to managerial data, determine the validity and utility of the model, and, if appropriate, apply the model to make a decision, anticipate or forecast future results, or satisfy a business need.
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