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2015/2016  KAN-CCMVI2029U  Applied Statistical Analysis for Business and Economics

English Title
Applied Statistical Analysis for Business and Economics

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration Summer
Start time of the course Summer
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 100
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Course instructor: Rene Leo E. Ordonez, PhD Professor and Coordinator of Graduate Programs in Business School of Business Southern Oregon University Email: ordonez@sou.edu
    Sven Bislev - Department of Intercultural Communication and Management (ICM)
In case of any academic questions related to the course, please contact the course instructor or the academic director, Sven Bislev at sb.ikl@cbs.dk
Main academic disciplines
  • Mathematics
  • Statistics and quantitative methods
  • Economics
Last updated on 09-06-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors: Upon the successful completion of this course, a student should be able to:
  • Demonstrate understanding of the nature of statistical analysis and decision theory as they relate to decision-making process in business and economics.
  • Demonstrate understanding of parametric and non-parametric hypothesis testing and apply this statistical procedure to various business and economic situations, and in business research.
  • Use regression analysis, time series analysis in business decision-making, economic analysis, and business research.
  • Demonstrate understanding of fundamental ideas of analysis of variance, and factor analysis.
  • Demonstrate understanding of the use of statistics in quality assurance.
  • Design and deploy surveys via Qualtrics and generate basic statistical summaries using Qualtrics
Course prerequisites
Basic computer skills, Basic statistics (compulsory)
Examination
Applied statistical analysis for business and economics:
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Summer, Ordinary exam: 1-5 August 2016
Retake exam: Within two months from the ordinary exam.
Aids allowed to bring to the exam Open book: all written and electronic aids, including internet access
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
4 hour written sit-in exam with a new exam question
Course content and structure

This is a higher level statistics course, with special focus on the practical application of statistical techniques to business and economics problems. 

This course is designed to provide graduate business students in general, and MBA students in particular, an advanced statistical methods and applications course that can serve as a foundation for pursuing quantitative and analytical courses in the areas of finance, operations management, managerial economics, industrial engineering, and business research methods. The analytical skills and tools learned by the students from the class will be as applicable in the workplace.

The course will be delivered via a combination of lectures, power-point presentations, and situational problem-solving, requiring students to apply common statistical tools (Excel) and techniques to business and economics-related decision-making and research analysis situations. Computer-based statistical tools are utilized in tackling problem-solving.  

The course is designed to meet and satisfy the learning standards on quantitative analysis required by international accrediting bodies for business schools, such as the Association to Advance Collegiate Schools of Business (AACSB) and the Accrediting Council for Business Schools and Programs (ACBSP).

 

Class 1:  The role of statistics in all aspects of business decision-making process, review of basic probability concepts. Introduction to Qualtrics, a Web-based survey application.

Class 2: Hypothesis Testing and Confidence Intervals: One Group.  

Class 3: Hypothesis Testing and Confidence Intervals: Two Groups 

Class 4: Chi-square Distribution and ANOVA

Class 5: Simple Regression Analysis – An in-depth exploration

Class 6: feedback activity: In-class quiz via Learn. Discussion to follow.

Class 7: Nonparametric Methods

Class 8: Decision Analysis/Decision Theory

Class 9: Time series Analysis and Forecasting

Class 10: • Quality Management (control charts, process capability)

Class 11: Comprehensive Review
Teaching methods
Essentially, the learning environment will follow the Confucian learning philosophy: “Tell Me and I Will Forget; Show Me and I May Remember; Involve Me and I Will Understand”
The course will be a combination of lectures and situational problem solving. Lectures will address the concepts and proper procedures for carrying out the various statistical methods covered in the class. This will be followed by application of the concepts and methods to business and economic-related problems. Computer software, mainly Excel, will be used in solving statistical problems.
Students will be expected to read the assigned material and work on assigned textbook problems (not for submission) outside of class.
Excel-based statistical templates developed by the instructor will be used as a class supplement. A copy can be downloaded by following the link below.
https:/​/​dl.dropboxusercontent.com/​u/​24718649/​BA%20282/​Interactive_Statistical_Excel_Templates_for_Applied_Business_Statistics%20-%20Fall%202014%20Edition.xlsm

Digitized lectures (e.g. digitally recorded computer-based lectures and demos) will also be made available to students to further enhance learning. The link to these videos will be made available in Learn.
Student workload
Preliminary assignment 10 hours
Classroom attendance 33 hours
Preparation 144 hours
Feedback activity 7 hours
Examination 12 hours
Further Information

Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings or video clips to be read or viewed before the start of classes with a related task scheduled for class 1 in order to 'jump-start' the learning process.

 

Feedback Activity: A feedback activitity defined by the course instructor will take place app. half-way through the course.
 

 

The timetable is available on http://www.cbs.dk/files/cbs.dk/isup_timetable_2016_updated.pdf
Expected literature

PRIMARY LITERATURE (MUST-HAVE BOOKS):

Lind, Machal, Wathen: Statistical Techniques in Business and Economics, Lind et al.

ISBN-13: 9780077639709

McGraw-Hill, 16th Edition, 2014
Last updated on 09-06-2016