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
|
Zola R.
Salulita, MX
|
|
|
The paper that I bought from EssaysEmpire.com was a whole lot better than I thought it would be. Thank you for the excellent service and product. I will be happy to recommend you to my friends. |
||
|
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! |
||
|
Royce B.
Dallas, TX
|
|
|
It is so refreshing to work with a writing service as professional as EssaysEmpire.com. Everything from your website, to your customer service workers to the writing itself, is top rate. I recommend you highly to anyone who will listen. |
||
|
Trilly M.
Spokane, WA
|
|
|
I just had to let you know how much I appreciated receiving a paper back that was of quality that high. I will recommend your writing service to other people I know. You guys do great work. |
||
|
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! |
||
|
Doreen A.
Malibu, CA
|
|
|
Due to a family emergency, I was unable to complete a very important paper. Thanks to EssaysEmpire.com, I was able to hand in a well written paper and not sacrifice my grade. I will be forever grateful to your writing service for providing such outstanding work. Thank you so much. |
||
|
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! |
||
|
Mary R.
New York
|
|
|
Writer #48376 was very easy to work with. My professor made some changes to his requirements after he had assigned the paper. All I had to do was call your customer service and request to speak with the writer directly. Was able to relay the changes that my professor wanted, and he (writer #48376) accommodated them with no problem. I thought that was great. No headaches and perfect work. I couldn’t ask for a better experience! |
||
|
James C.
New Orleans, LA
|
|
|
I am required to do more writing this semester that I possibly have time for. Right after class, I have to go straight to my job. It’s a good thing I have EssaysEmpire.com to help me out with the writing. You guys always do such excellent work. Thanks! |
||
|
Sharon Q.
Lexington, OK
|
|
|
Working with your writers is always such a pleasure. Thanks again. |
||
|
Mike G.
Rochester, NY
|
|
|
Your writing service is different from other writing services. Yours is the only one I have ever dealt with that I can truthfully say is legitimate. The staff is very professional. The writers are the best in the business. I am pleased with the results of my last three orders and plan to return for more soon. |
||
|
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. |
||
|
Marcy V.
Paris, FR
|
|
|
Given the short amount of time I gave your writers to create my term paper, I was amazed by how good it was when I received it back! It appeared they had spent months writing it, rather than just one week. Thank you, EssaysEmpire.com! I enjoyed doing business with you. You are a fabulous writing company. |
||
|
Celine H.
Calistoga, CA
|
|
|
Thanks for doing a great job on a paper that was an important part of my semester. You guys rock! |
||
|
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. |
||
|
Patti F.
Boulder, CO
|
|
|
I have complete confidence in the quality of the work that I order from your writing service. You have always been the prime example of what a writing service should be. |
||
|
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. |
||
|
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. |
||
|
Glynnis H.
Ft. Smith, AR
|
|
|
Hello! I just had to stop what I was doing to let you know how grateful I am that I found your excellent writing service. I have had to use you three times now, and each time, I have been 100% satisfied with the work that you did. Your writers are absolutely outstanding. I am very, very happy with everything you have written for me. |
||
|
Ramona R.
Sparks, NV
|
|
|
Thank you for doing such stellar work on my paper. How anyone could write a paper this well on a subject this boring, is beyond me. When I tried to write it myself, I thought it would have put my professor to sleep! Your writers made it sound so interesting! I really appreciate that. Thanks a million! |
||