Quantitative Analysis for Business
Excel based analytics to evaluate operational performance using business statistics. Data have become a torrent flowing into every area of the global economy. Many companies are seeking to enhance their ability to transform data into valuable insights and actions. This course provides students with skills to analyze data.
This course develops future Supply Chain Management majors’ understanding of the three pillars of business analytics: descriptive, predictive, and prescriptive analyses. Through a variety of technology resources, students utilize statistical methods to analyze and answer business questions containing uncertainty.
Expected Learning Objectives
Upon completion of the course students will:
- Analyze data using proper statistical methods.
- Ethical Considerations: Learn to identify when data is manipulated, inappropriate assumptions made, or incorrect statistical methods used
- Display proficiency using statistical procedures on data from a variety of business disciplines
- Learn to effectively communicate the meaning of numerical results achieved by appropriate statistical analysis
- Develop advanced quantitative skills required to statistically analyze data from any business discipline and correctly interpret the results
- Selection of Topics Covered:
- Descriptive Statistics
- Relationships among Variables
- Probability and the Normal Distribution
- Sampling and Sampling Distributions
- Confidence Interval Estimation
- Hypothesis Testing
- Inference for other Parameters
- Regression Analysis
- Estimating Relationships
- Statistical Inference
- Data Mining
Course Pedagogy and Immersive/Experiential Activities
Classes incorporate lectures, discussions, and exercises. All students will contribute to the quality of the classroom experience. Quizzes, exams, and a case study will be used to evaluate performance.
Students will use Excel to practice analytics skills. The course is taught using invented pedagogy where students review course lectures online before coming to class. Class time is used for working through more challenging problems and open discussion.
Grades are typically determined by performance in a series of quizzes that progressively cover the course material, a case study, and three Exams.