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
|
Pete F.
Sparta, NJ
|
|
|
Dear EssaysEmpire.com, I have never used a writing service like yours before. None of the ones I have tried previously offered the kind of guarantees that you offer. I even bought a paper that was plagiarized once. I never have to worry about things like that with EssaysEmpire.com! Thanks a million! |
||
|
Emily H.
Norman, OK
|
|
|
My writer revealed to me that when he isn’t working for you, he is teaching at a major university. He also told me that a lot of the other writers who work for you are professors. That is impressive! No wonder I got an A+ on my paper! |
||
|
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. |
||
|
Sarah M.
Portland, OR
|
|
|
Today was the perfect day to make an A+! It convinced me that there are solutions to problems that seem impossible to solve. When I realized that the due date for my paper was coming up quickly, I felt like there was nothing I could do. If I didn’t hand in my paper on time, I would get an F and fail the course. However, I had to study for 3 major exams and write two other papers. My roommate suggested that I turn the paper over to you guys, which I did, and voila! I got an A+ on it and the problem was solved. Thank you, EssaysEmpire.com and to your writers and staff. You are a great writing service. |
||
|
Josef H.
Houston, TX
|
|
|
The topic for my assigned essay was very intense. It involved a lot of research and knowledge of the subject. The writer who took care of it for me seemed to be a real expert. I found that so impressive! I just had to drop a line to let you know how much I appreciated the work he did. |
||
|
Louise O.
Oakland, CA.
|
|
|
The A+ that I got on the paper that I ordered from you, helped boost my grade up an entire letter grade! Thanks, EssaysEmpire.com! |
||
|
Beverly S.
Cambridge, MA
|
|
|
I appreciate the help your wring service gave me with my biology paper. I have never cared much for biology. It is a tough subject for me to grasp. This is why I needed so much help with my paper. The writer absolutely understood the whole topic and turned out work that would have made anyone proud. Thanks a million for the great paper. |
||
|
Alexandra Z.
Dallas, TX
|
|
|
I am sitting here reading over what your writing service offers and I just realized that you are the only one that offers free rewrites and full guarantees on your work. This tells me that you are an honest company that I want to do business with. |
||
|
Bruce B.
Purcell, OK
|
|
|
I had a hard time articulating what my professor wanted, so I was able to speak straight to my writer. After I had explained a little bit, I could tell he understood everything. He then took the ball and ran with it, so to speak. He wrote my paper in two days and it was the picture of perfection! I am very grateful that he knew what to do and how to do it so perfectly. |
||
|
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! |
||
|
Philipa W.
Rome, ITALY
|
|
|
The paper that your writers did for me on the topic of, The Psychological Effects of Fluorescent Lighting in the Workplace,” was right on the money! They included my long list of customizations and did not charge extra for them. The formatting was just right. There were no grammatical errors. The length was what it was supposed to be. I am so happy that I chose to let the EssaysEmpire.com writers take care of my paper for me. I will choose this writing service again without hesitation. |
||
|
Gaia W.
Lexington, OK
|
|
|
EssaysEmpire.com gets an A+ for being the best writing service a student could ever ask for! Thank you for your continued high quality work, guys. I have purchased 6 papers from you over the last two years and they have been exquisite in their workmanship and content. I really appreciate how hard you guys work to please your customers. I’m not surprised that you are reported to be the best writing company online or off. To me, you are exactly that. |
||
|
Langley R.
Los Angeles, CA
|
|
|
One of the things that I appreciate most about EssaysEmpire.com, is that they don’t resell your paper. Only you own it, if you hire them to write something. Other writing services that I have used, just circulate the same paper over and over, and if you get caught turning one in, too bad. You are expelled. EssaysEmpire.com will even give you a plagiarism report after they run it through their anti-plagiarism check. Such details set EssaysEmpire.com above the rest. |
||
|
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! |
||
|
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. |
||
|
Allen P.
Denver, CO
|
|
|
Writer #3827 is a great writer! I got an A+ on my very first paper of the term. This is the way to set the pace for the rest of the term. Thanks! |
||
|
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 |
||
|
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. |
||
|
Jeff M.
Baltimore, MD
|
|
|
I would like to commend your excellent writers for a job well done. They followed my directions to a tee. Thank you, EssaysEmpire.com for being who you are and for doing what you do. There is no better writing service anywhere. |
||