Analyzing Business Problems
| ← Financial Crisis | Discussion about Samsung, Ford Motors & McDonalds → |
BUSN625 Applied Decision Making
The primary focus of our time together in this graduate level course will be on analyzing business problems and applying the most appropriate method or technique to solve, resolve or mitigate the effects of the problem. We will investigate the most successful analysis methods used from business statistics, production and operations management, management science, and research fields of study. Analysis of case studies and group projects will be essential activities throughout the course. You will be required to synthesize material from several major fields of study, apply it in within the course, develop solutions to the problems and then present your solutions to decision makers. It is important to note that as mathematics is a foundation of the course, a solid understanding of basic mathematical principles will be essential to your success within the course. Due to the amount and depth of information covered in a relatively short amount of time (8 weeks), you will find that each week will contain required reading, assignments, and required discussions to ensure that, by the end of the course, you have a solid understanding of the material and are both confident and competent in applying the techniques and methods that we have investigated.
|
Course Scope |
This course provides a basic introduction to business statistics and decision models/optimization, focusing on practical applications of data analysis and decision modeling. It will provide the fundamental understanding of why to use a procedure, how to use it correctly, and how to properly interpret results.
This Business Administration course delivered via distance learning will enable students to complete academic work in a flexible manner, completely online. Course materials and access to an online learning management system will be made available to each student.
|
Course Objectives |
Course Objectives:
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making
processes
LO-2 Utilize statistical inference to draw relevant conclusions from data
LO-3 Apply regression analysis to inform business decision-making
LO-4 Discriminate among qualitative (judgmental) and quantitative forecasting models that are appropriate
to discrete managerial needs
LO-5 Apply risk analysis to anticipate possible business outcomes
LO-6 Integrate statistical reports with managerial thinking to resolve uncertainty and achieve business
util
|
Course Materials |
- Evans, James R., Statistics, Data Analysis, and Decision Modeling, Fourth Edition, ISBN-13:978-0-13-606600-2 (comes with CD-ROM)
- Lecture Notes
- PowerPoint Presentations of Chapters
- Online Research Library
|
Course Outline |
|
Week
|
Topic(s)
|
Learning Objective(s) |
Reading(s)
|
|
1 |
STATISTICS AND DATA ANLYSIS
Data and Business Decision; Displaying and Summarizing Data
|
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 1 and 2
|
|
2 |
Probability Distributions and Applications; Sample and Estimation
|
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 3 and 4 Read: Case Study-Probability Analysis for Quality Measurements, page 117-118 |
|
3 |
Hypothesis Testing and Statistical Inference; Regression Analysis |
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data LO-3 Apply regression analysis to inform business decision-making
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 5 and 6 Review: Case Study-Probability Analysis for Quality Measurements, page 117-118 |
|
4 |
Forecasting; Statistical Quality Control |
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-4 Discriminate among qualitative (judgmental) and quantitative forecasting models that are appropriate to discrete managerial needs
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 7 and 8 |
|
5 |
DECISION MODELING AND ANALYSIS Building and Using Decision Models; Risk Analysis and Monte Carlo Simulation |
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data LO-4 Discriminate among qualitative (judgmental) and quantitative forecasting models that are appropriate to discrete managerial needs
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 9 and 10
Read: Case Study – An Inventory Management Decision Model, page 327-328 |
|
6 |
Decisions, Uncertainty, and Risk; Queues and Process Simulation Modeling
|
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data LO-4 Discriminate among qualitative (judgmental) and quantitative forecasting models that are appropriate to discrete managerial needs LO-5 Apply risk analysis to anticipate possible business outcomes LO-6 Integrate statistical reports with managerial thinking to resolve uncertainty and achieve business utility
|
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 11 and 12
|
|
7 |
Linear Optimization; Integer and Nonlinear Optimization |
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data LO-3 Apply regression analysis to inform business decision-making LO-6 Integrate statistical reports with managerial thinking to resolve uncertainty and achieve business utility |
Read: Statistics, Data Analysis, and Decision Modeling, Chapters 13 and 14
Review: Case Study – An Inventory Management Decision Model, page 327-328
|
|
8 |
Course Review and Final Exam
|
LO-1 Identify the types of data and appropriate methods that are specific to managerial decision making processes LO-2 Utilize statistical inference to draw relevant conclusions from data LO-3 Apply regression analysis to inform business decision-making LO-4 Discriminate among qualitative (judgmental) and quantitative forecasting models that are appropriate to discrete managerial needs LO-5 Apply risk analysis to anticipate possible business outcomes LO-6 Integrate statistical reports with managerial thinking to resolve uncertainty and achieve business utility
|
Review all course material in preparation for the Final
|
- Discussion about Samsung, Ford Motors & McDonalds
- Business Challenges and Competition
- Financial Crisis
- The Cheesecake Factory
|
Quincy S.
Cambridge, MA
|
|
|
You guys did a super job on my paper. The work definitely exceeded my expectations and eased my anxiety. This was the first time I had hired a writing service. The transaction was seamless. I would use you guys again in a heartbeat! No questions asked. You’re the best, hands down. |
||
|
Mark C.
Mexico City, MX
|
|
|
Thanks to EssaysEmpire.com, I was able to keep my GPA up and will be graduating soon. I really needed assistance with my writing. I aced everything else, but I have always had problems expressing myself in writing. The writers at EssaysEmpire.com took the ball and ran with it! Because of them, I am going to graduate. Thank you, from the bottom of my heart, for all of the valuable assistance. |
||
|
Royce E.
Dallas, TX
|
|
|
I first approached EssaysEmpire.com with skepticism. However, now, I have none. I am convinced that you are probably the best writing service on the Internet. Plus, you don’t overcharge, as so many writing services do. Thank you for the quality writing at affordable prices. You offer such a valuable service to students such as me. |
||
|
Terry M.
Sparta, NJ
|
|
|
I got an A+ on the paper that you guys wrote for me. I can’t believe it! THANKS!!!! Many, many thanks! This A+ added those few extra points that I needed to stay on the Dean’s Honor List. You’re the greatest, EssaysEmpire.com! |
||
|
Della M.
Belfast, IR
|
|
|
I had to turn on my laptop for the express purpose of writing to you. I had to let you know what lifesavers you people are! I had never even considered hiring a professional writer to help me and was almost resigned to dropping out of school altogether. Then, I thought about it, and asked myself what it would hurt to try EssaysEmpire.com for just one paper. That paper was written astonishingly well! From that one paper, I learned many of the things that I did not know about writing. It was perfect, so I learned all about formatting in the APA style. I learned a lot, so I want to thank you for that. |
||
|
Bryce F.
Capistrano, CA
|
|
|
Thanks for the excellent job that you guys did on my history assignment and my bio research paper. I never could have done this on my own. |
||
|
Anne A.
Cambridge, MA
|
|
|
You dudes are awesome! Wow! I can’t believe I got an A+ on my paper! At best, I expected a B or C! |
||
|
Kathy M.
Las Cruces, NM
|
|
|
To EssaysEmpire.com: Thank you for my outstanding paper. When I read it, I knew that I would get an A+ on it. Also, thanks for adding all of the pertinent details that I asked you to customize. You did a brilliant job. Just brilliant. |
||
|
Celine H.
Calistoga, CA
|
|
|
Thanks for doing a great job on a paper that was an important part of my semester. You guys rock! |
||
|
Steve Y.
Ft. Worth, TX
|
|
|
I would just like to say that I am tremendously happy with the two papers that were written for me by the EssaysEmpire.com writers. They were just what I ordered….only better. |
||
|
Willow P.
Park City, UT
|
|
|
You guys do top-notch work. Time after time, I have had to rely on your help and I can say honestly that you have never let me down. Thank you so much for coming through for me every time. I am not a good writer. I try. I study hard, but when I need help, you are always there to give it to me at an affordable price. |
||
|
Kyle N.
Tempe, AZ
|
|
|
Dear Sirs: I have just placed my third order from EssaysEmpire.com this term. I feel confident that my paper will be written on time and that the quality of it will be out of the ballpark. The first two papers I ordered from you got A+ marks, and I know this one will, too. It is so great to be able to sit back and concern myself with my reading and exams while you do the difficult writing projects for me. That is really great. You guys are a class act! |
||
|
Marcella M.
Lexington, KY
|
|
|
Dear EssaysEmpire.com, I am very happy with the work that your writers did for me. I was impressed by the plagiarism report, too. Thanks for everything! |
||
|
Steve P.
Portland, OR
|
|
|
I am beginning to understand why your writing service was recommended to me so highly. Everything you do is a cut above your competition. You’re really great! |
||
|
Millie P.
Jackson, WY
|
|
|
Thanks goes out to the writer who filled my order. He did everything right the first time around. I had to ask for one tiny revision, but that was my own fault for leaving it out of the directions. |
||
|
Melissa C.
Rochester, NY
|
|
|
I am completely satisfied with the paper I purchased from your company. I only wish I had known about you last year when I took an F grade for not being able to complete a paper on time. The work you did was marvelous. Whenever I find myself falling behind in my school work, I will be sure to pass along some of my more difficult written assignments to you |
||
|
Enrico V.
San Diego, CA
|
|
|
I was really happy about the speedy turn around time for my paper. It is rare to find a writing service that can write things so quickly without taking away from their quality. Hats off to EssaysEmpire.com! |
||
|
Barry M.
Seattle, WA.
|
|
|
BRAVO! EssaysEmpire.com has done it again. I have just received another A+ for an EssaysEmpire.com paper! Thanks!Thanks! |
||
|
Mia W.
Amherst, MA
|
|
|
Dear EssaysEmpire.com, I would like to put in a good word for Writer #32412. He was really under the gun. I didn’t give him much notice because I had my dates mixed up and my paper was due sooner than I expected. He didn’t let me down, though. He wrote until the paper was perfected. I handed it in on time got an A+ and wish your writers could accept tips, because I would leave this guy a HUGE one! |
||
|
Tiffany E.
Monroe, LA
|
|
|
I am 100% satisfied with the writer that you assigned to my project. This person understood exactly what I needed, even though I’m not the best communicator and the instructions were tedious and difficult. I felt certain I would have to send my paper back for a number of revisions, but I didn’t. The writer was able to convey exactly what I wished to express and he did it in record time!Thanks for everything. EssaysEmpire.com is the greatest! |
||