Business and Economics Statistics
Dr. Robert Moussetis
romousse@noctrl.edu

Office Hours: MW 12:00-2:00 and TTh 4:00-4:30

Text: Business Statistics by Ken Black (latest edition)
Prerequisite:
    1.Math 121 (College Algebra) or higher.
    2. Always have a calculator appropriate for the class

Course Description:This course is designed to provide students with the ability to apply and interpret descriptive and inferential procedures, probability distributions, statistical sampling and design hypothesis testing, and regression. Primary objectives are to improve the statistical capabilities of students as well as their abilities to apply statistical concepts in a business setting.

Intended Outcomes:

  1. Become aware of wide range of applications of statistics in business and economics
  2. Demonstrate an understanding of the principles and properties guiding statistical applications
  3. Demonstrate a capability to manipulate data for statistical purposes.
  4. Demonstrate a capability to design statistical problems and interpret the results.
  5. Demonstrate a capability to gather, analyze and interpret numerical data.
Learning Process
  1. Business and economic application problems
  2. Lab sessions with problem conceptualization, analysis, design, calculation and interpretation of results. Special attention to the meaning of statistical information.
  3. Quizzes
  4. Cases
PROJECT
Grading
Quizzes 500 >900 A
Computer Exercise(s) 100 800-899 B
Case(s) 100 700-799 C
Final 300 600-699 D
Total 1000 000-599 F

Weekly Class Format: (approximate):
    1. Quiz every week: Every week students willbe expected to take a quiz on the respective materials
    2. Lecture: Lectuere of the new materials will follow. Students expected to engagein advance reading
    3. Lab and Problem Solving Session in Class: Time dedicated to answer questions and work out problems
    4. Cases (in class or take home): Real statistical problems
    5. Required advanced reading/solved problems: Students are expected to read the materials and solved problems

Quiz:This will involve one or two relatively simple problems based on the problems of the book and the suggested homework. Grading on the quiz will involve mostly the meaning of the results (not just the calculations). Students need to be trained not only to find the results but also determine what they mean. For the most part, the assumption in each problem will be that you have been assigned a small project and that your boss does not know very much about statistics and you must not only solve the problem but also make him (!) understand.

Lecture: Concepts will be presented, explained and applied. Examples will be demonstrated on the board. Students are encouraged to read in advance the chapters and solved problems in order to materialize the full-advantage of the session (lecture and lab).

Lab:Problems will be solved, simulations of quiz problems, questions will be answered. Students will attempt to solve problems individually and in-groups. Since preparation for this session is imperative, I strongly advise students to go over the readings and problems for the week (weekly requirements)

Weekly Schedule
 
Week
Chapter(s)
Suggested Homework (H)
Weekly Requirements (R)
W 1 Chapter1
Chapter2
Chapter3
Homework: All Odd Number Problems (or as many as you can)
Requirements: Read Chapter 4
Requirements: Go over solved problems on Chapter. 4
W 2
Quiz
Chapter4 Homework: All Odd Number Problems
Requirements: Read Chapter 5
Requirements: Go over solved problems on Chapter 5
W 3
Quiz
Chapter5  Homework: All Odd Number Problems (or as many as you can)
Requirements: Read Chapter 6
Requirements: Go over solved problems on Chapter. 6
W 4
Quiz
Chapter6 Homework: All Odd Number Problems (or as many as you can)
Requirements: Read Chapter 7
Requirements: Go over solved problems on Chapter. 7
W 5
Quiz
Chapter7 Homework: All Odd Number Problems (or as many as you can)
Requirements :Read Chapter 8
Requirements: Go over solved problems on Chapter. 8
W 6
Quiz
Chapter8 Homework: All Odd Number Problems (or as many as you can)
Requirements Read Chapter 9
Requirements: Go over solved problems on Chapter. 9
W 7
Quiz
Chapter9 Homework: All Odd Number Problems (or as many as you can)
Requirements: Read Chapter 12
Requirements: Go over solved problems on Chapter. 12
W 8
Quiz
Chapter12 Homework: All Odd Number Problems (or as many as you can)
Requirements: Read Chapter 11
Requirements: Go over solved problems on Chapter. 11
W 9 
Quiz
Chapter11  
W 10
Quiz
Review and completion of Unfinished Materials   
W 11
Final
FINAL  
Note: Not all sections from each chapter will be covered. Each week students will know exactly which sections will have to read for the following week. 
Note: Adjustments may be required according to the progress of the class.