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
![]() |
Cleo C.
Wichita, KS
|
|
To the writers at EssaysEmpire.com: Next week, I will be graduating with a degree in clinical psychology. Over the course of my college years, I have had to turn to you for help many times. Each and every time, you produced some of the highest quality writing my professors had ever seen. Because of you, I was able to keep a high grade point average and get into an excellent grad school. There are simply no words adequate enough to fully express my appreciation, so I’ll simply say, “thank you” and let it go at that. Please know that you are appreciated. |
![]() |
Jennifer C.
Sulphur, LA
|
|
Your writer did a great job on my history paper. I didn’t have to lift a finger, yet I received an A+. I read the paper and felt like I learned an entire semester’s worth of information. That’s how good it was! |
![]() |
Phoebe K.
Madison, CT
|
|
I find your writing company to be professional, proficient and perfect. Your papers are always so good! They make good reading, in addition to being well written assignments. I can tell your writers really know their stuff! |
![]() |
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. |
![]() |
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! |
![]() |
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. |
![]() |
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! |
![]() |
George Sparlin
Nashville, TN
|
|
You guys are fabulous to offer such amazing guarantees for your work. I hired you for my last two papers because there was no risk involved. That was a pretty attractive option, if you ask me. Of course, I didnРІР‚в„ўt have to cash in on any kind of guarantee, because the work was perfect! Go figure. Thank you, 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. |
![]() |
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. |
![]() |
Mark M.
Cambridge, MA
|
|
The paper I ordered from EssaysEmpire.com is incomparable! Thanks for doing such stellar work. I have recommended your services to a few other folks who plan to try you out soon. EssaysEmpire.com gets my vote for best writing service every time. |
![]() |
Hannah B.
Tulsa, OK
|
|
I am happy. I am happy because I got an A+ on my research paper. I did this by hiring the professional writers at EssaysEmpire.com to write it for me. It was everything I had hoped it would be. Thanks, EssaysEmpire.com! |
![]() |
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. |
![]() |
David H.
New York, NY
|
|
I want to thank each writer who participated in helping with my large project. I know they spent a lot of energy turning out an admirable product, and I feel good for having hired them to take on this important project. EssaysEmpire.com is reputed as the best writing company on the Internet. Now, I know first hand, that you live up to that reputation. I could not have asked for a better deal. |
![]() |
Sarah H.
Brooklyn, NY
|
|
As always, I can count on EssaysEmpire.com to never let me down. I had to place an emergency order and was worried that I had not given the writer enough time to do a good job. I was wrong. They did a tremendous job! Thanks ever so much! |
![]() |
Joyce T.
New Orleans, LA
|
|
I was trying to choose between EssaysEmpire.com and another online writing service and I didn’t know which one to pick. Then, I began to read reviews. I didn’t read even one thing negative about EssaysEmpire.com, and the other site was fraught with complaints. I went with EssaysEmpire.com, and it turned out that all the good things I had read about the service were true. My paper was fully guaranteed, but it was A-1 quality. The customer service people were great. The prices were right. Now, I am a devoted fan. When I need help with my writing, I go straight to EssaysEmpire.com! |
![]() |
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! |
![]() |
Tricia A.
Calabasas, CA
|
|
Thanks for everything. I like your writing service a lot. Your staff is friendly and they’re always open. The papers that you’ve written for me have been very good. |
![]() |
Greg C.
Atlanta, GA
|
|
Your writing service is phenomenal. I love the fact that EssaysEmpire.com is even open on Christmas day. You never close, and that tells me that you are dedicated to students like me who might need help over the holidays or any time. The work you do is superior to that of other writing services. I’d say that overall, one simply can’t beat EssaysEmpire.com. Thanks for all that you do for students like me. |
![]() |
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! |