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2301 Objectives, Information, and Syllabus Spring 2010

2301 Objectives, Information, and Syllabus Spring 2010 -...

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Statistics for Modern Business Decisions STAT 2301 Course Information Professor Richard F. Gunst Department of Statistical Science 142 Heroy Building 214-768-2466 [email protected] Office Hours: Almost Any Time that’s Convenient for You – Email Me! Course Description Statistics for Modern Business Decisions introduces you to basic statistical concepts and techniques needed for collecting, analyzing, and interpreting quantitative information required for making sound business decisions. The overall theme of the course is problem solving using statistical methods. Emphasis in the course is on using graphical and numerical methods to convey information on business processes, information that can be critically important for making informed business decisions in a competitive marketplace. No previous knowledge of statistics is required for this course. Modern, highly competitive business environments rely on computer technology and software in all facets of the organization. The use of statistical computing with Microsoft Excel in this course prepares you to be able to function in these environments and it enables you to concentrate most of your time on interpretation and decision-making, not on the drudgery of making calculator calculations and graphs. No prior knowledge of computing with Excel is required for this course. Course Objectives Enable you to understand and explain quantitative information using graphs, tables, and summary statistics (e.g., means, proportions, standard deviations) and to create such displays using Microsoft Excel. Enable you to apply the basic principles of statistical sampling and critique the validity of observed samples. Enable you to validly calculate probabilities for some key probability distributions (e.g., normal and binomial). Enable you to understand and explain the critical concept of variability in data and summary statistics. Enable you to calculate, correctly use, and correctly interpret inferential statistics for means and proportions. 1
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Text, Website and Software The Practice of Business Statistics: Using Data for Decisions, Second Edition (2009) David S. Moore, George P. McCabe, William M. Duckworth, and Layth C. Alwan New York: W.H Freedman Note: If you buy a used text, you will still need the material on the CD-ROM. There are several data sets on the CD-ROM that we will be using for assignments and labs. Website: All lecture notes are available on Blackboard at http://courses.smu.edu . The lecture notes are downloadable. The lecture notes are cross-referenced with the textbook to facilitate the integration of the textbook and the lecture notes. Software: This course will make extensive use of statistical software modules on Microsoft Excel. Both the computers and the Excel software needed for the requirements of this course are available in Fondren Library and the Business Information Center (BIC), but any assignments requiring the use of Microsoft Excel may be done on your own personal computer -- they need not be done on the computers in Fondren Library or the BIC.
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