Welcome to MBA 504 - Term IV 2007
MBA 504 Quantitative Methods for Management
INSTRUCTOR: Donald E. Stout, Jr.
OFFICE HOURS: Room 370, "Old Main"
PHONE: Campus: 360.438.4587
REQUIRED TEXT: Lind, Marchal, and Wathen, Statistical Techniques in Business and Economics, Irwin McGraw-Hill, 12th ed, 2005.
As described in Saint Martin's Graduate Catalog, this course provides coverage of "concepts of statistical decision theory, sampling, forecasting, linear programming, and other stochastic and deterministic models applied to managerial problems."
During this course, students will be introduced to descriptive statistics, measures of central tendency and variability, probability, sampling and sampling distributions, estimation, and hypothesis testing. The course strives to provide students with useful methods for describing and displaying statistical data to better communicate business information.
The course also introduces a number of quantitative models that have proven effective in solving certain classes of managerial problems. These include forecasting, statistical quality control, index numbers, and the basic tools of elementary decision theory. Students will apply these tools to various representative sample problems in class and in homework. Students will learn the strengths and weaknesses of the various applications and limitations of the models presented
Provide students with a foundation in statistics and probability theory underpinning the quantitative tools and methods commonly used in business decision-making.
Provide students with an understanding of the application of quantitative analysis tools and techniques and give students an appreciation of the power of employing a systematic and logical approach to problem solving which extends beyond the collection of tools presented.
The class sessions will be a combination of lectures, interactive exercises, student presentations, and case discussion. Most material will come from the assigned textbook. Some material will come from handouts and supplemental sources I will make available to you.
Following each lecture, homework will be assigned to reinforce concepts advanced during class. The beginning of the next evening's class period will be devoted to reviewing homework from the previous night's lecture. I will ask you to share and explain your homework solutions to the class.
BRIEF COURSE OUTLINE:
Weeks 1 and 2:
Basic Statistical Concepts
A Survey of Probability Concepts
The Normal Distribution
Estimation and Confidence
Linear Regression and Correlation
Statistical Quality Control
Decision Theory and Decision Making
Class participation: 10%
Exams (midterm, final, quizzes) 80%
Homework/homework presentations 10%
Class participation/attendance: (10 points) - I highly recommend you come to each class session. I appreciate your presence and active participation during each class period.
While I normally take nightly attendance, attendance is not mandatory in the same manner as passing the exams, reading the course material, and doing the homework is not mandatory. But, if you miss a class, it will probably be the class I hand out a pop quiz. Missed quizzes earn scores of 0.
As a general policy, late assignments will not be graded and makeup exams will not be given; therefore, if you need to be absent, please let me know in advance and do your work early.
Homework/homework problem presentations: (10 points) - Homework assignments for each class may be found on the homework schedule. At my discretion, a sampling of homework assignments may be collected, graded, and returned. Homework assignments will be graded not only on content, but also appearance.
During each class period we will review assigned homework problems. You may be asked to present your problem solution to the class.
Please observe the following homework guidelines:
I encourage you to form and work in study groups to do homework problems. I have found discussion within study groups contributes to overall understanding. A cautionary note, I expect you to turn in your own work. You should use your group as a means to help you hurdle specific problem areas, not to replace your own problem-solving thought process.
Please maintain an informal homework notebook available for my review. I do not expect anything fancy. Simply collect all your homework assignments in one place and arrange them chronologically. An excellent notebook would show evidence of having worked all the problems and may contain personal notes about the techniques used, their application and difficulties. Include computer printouts of Excel solutions.
Quiz/Exams: (80 points) - A mid-term (30 points) and final exam (40 points) will be given. Exams will test your ability to formulate and solve problems based on the course material. Unannounced quizzes (up to 10 points) may be given at my discretion.
If you need course adaptations or accommodations because of a disability, if you have medical and/or safety concerns to share with me, or if you need special arrangements in case the building must be evacuated, please make an appointment with me as soon as possible.