INDIANA UNIVERSITY NORTHWEST School of Business and Economics
E270: Introduction to Statistics for Economics and Business
Instructor: Surekha Rao, Ph.D
Office: Dunes Med/Prof Building 1122
Phone: (219) 980-6934
Skype ID: iun-econ-E270; Skype Live chat hours: TBD
“Statistical thinking will one day be as necessary a qualification for efficient citizenship as the
ability to read and write” H.G. Wells
This course introduces basic statistical methods for business and economic data analysis .Statistics is essential for proper understanding of the working of a business enterprise and an economy. The course will teach you tools, techniques for reporting, presenting, summarizing and interpreting the data. In this course you will also learn fundamentals of statistical inference based on probability theory for estimation and testing of hypotheses. The course will teach you how to build simple regression models for economic and business decisions and forecasting. This course extensively uses
statistical commands and functions from MS Excel 2010 for problem solving.
Required Text: Statistics for Managers using Microsoft Excel; by David Levine, David Stepha
Timothy Krehbiel and Mark Berenson; 6th edition; 2011 PUBLISHER: Pearson Education
NEW:$229.00 ;USED:$171.75 ;RENTAL NEW:$160.30
The book comes with eBook, resources and and access to MyStatlab.com https://pearsonmylabandmastering.com/students/ will allow you to create a temporary access free for 15 days using the following COURSE ID : ………………………TBA
Recommended: Use of Excel. Since I teach problem solving in statistics using Excel you woul be expected to do your homework, projects, all tests and final exam using Excel. You may like to take free Excel tutorials to become familiar with this program.
Pre-requisite: Math 118 or equivalent math proficiency is a prerequisite for this class.
Course Goals and Objectives
The major learning goals of this class course are:
1. To learn about the basic tools of summarizing data: various measures of averages, and measures of variation and correlation
2. To learn about the graphical presentation of data
3. To get basic understanding of probability and probability distributions with emphasis on
4. To learn about random sample, sampling techniques, and sampling distributions
5. To estimate unknown quantities( parameters) and testing of simple hypothesis
6. Correlation and Regression including simple linear regression modeling and forecasting
7. Problem solving with Excel
8. Apply these skills for some real world economic and business problems
This course has applications in virtually every field of study. You will learn the basic tools of statistics by applying them to different data using Excel. I prefer Excel because this software comes
as part of the MS Office package. This would enable you to use the statistical skills without investing more money in any other statistical software. You would be learning the subject matter by problem solving and by hands experience using Excel in the computer lab. All students are required
to do a project that covers most of the five objectives discussed above.
Some ground rules:
1. ALWAYS Use oncourse e-mail to communicate.
2. Learn basics of oncourse :Oncourse goes by Eastern Time
3. Read this syllabus with weekly course schedule for more details
4. See the **Weekly Course Schedule** in Modules for detailed weekly session topics, readings, forums and assignment due dates.
5. **Students are responsible for all assignments/Forums/Projects in this
6. **All due dates are noted in the Course outline/ weekly Schedule**
7. Use Skype for online chat for Q and A
USE OF ONCOURSE AND Mystatlab.com
I shall provide lecture notes and any additional information in Resources on oncourse. You are expected to check oncourse for important announcements related to this class.
Assignments required for this course will be posted on Mystatlab.com under the course name E270. The Assignments must be completed and submitted on Mystatlab.com
There are four types of required activities d in this class:.
The key course activities in this online class are:
1. Assignments: The course uses mystatlab.com, publishers’ website for Assignments. These assignments are all problem solving based on tools and methods learnt during the week. There will total of 10 assignments worth 30% of the grade.
2. Exams: There will be a midterm and a final exam, each worth 20% of the grade. The exams will be also conducted on Mystatlab.com. The exact dates for these exams will be announced in the Syllabus.
3. Forums: There will be weekly forums and your participation in those forums is essential. Each week your instructor will post a question/ task that covers materials covered in the chapters assigned for the week and you are expected to answer the question and complete the task. This assignment is worth
10% of the course grade.
4. Project: Each student is expected to complete an individual project. The project will be an application of the statistical methods learnt during this course. The project will show case your skills in applying these tools and methods for a real world business and /economic problem .The project guidelines will be given in the beginning of the semester. The project will be worth 20% of your course grade.
Grading Information: Grades will be determined as shown in the following assignment chart.
Items Percentage of Grade
Mid- term exam
End of semester Project
Final examination 20
Weekly Forum 10
Class Policies Regarding Graded Work
**The following policies are in effect for all individual and group deliverables throughout the semester, unless noted otherwise. **
All submission times are 11:59 p.m., U.S. Eastern time
unless stated otherwise. Late Work is subject to penalty.
All late Assignments , Forums and Exams lose a letter grade per 24-hour period following the due date, unless the instructor has granted prior approval for late submission of an assignment. Approval for late submissions must be obtained at least two weeks in advance of the scheduled due time for the assignment, or be based on a documented emergency.
All weekly assignments and all other graded work must be entirely each student's own work and original for this course. Work prepared for other courses or use of material obtained for this course from other students, past or present, is expressly prohibited and can result in a grade of zero for an assignment and/or course failure.
Incompletes will be granted only in extreme circumstances, not for work-related deadlines, prior personal commitments, or falling behind in readings or assignments. If an incomplete is to be considered, it can only been granted if the student has completed 60% of the course work and has maintained a 'B' in the completed course work.
NOTE: I will keep you apprised of assignment grades via the online class Grade book. Students are responsible for contacting me if they do not receive any grade by
10 days after the assignment submission date.
IU Academic Policies
This course is governed by IU academic policies in the following areas:
According to the School of Business and Economics grading policy, the following marks are used:
The letter grades will be assigned on the basis of your total score as follows
Automatic Withdrawal Deadline:
Classes dropped during the first week of class will not appear on the student’ s transcript. A grade of “ W” will be automatically assigned to classes dropped after the first week of classes and before the automatic withdrawal deadline. A student needs the permission of his/her Division to withdraw from a class after the automatic deadline. If the work is of passing quality, the student will be given
a “W”. If the work is not of passing quality the student will be given an “F”.
Class sessions will be used to develop economic and analytic skills. Attendance and participation in class is an essential part of the learning process. While I do not take attendance, I do give points for class participation. When a student is absent from class, the student is responsible for all material covered in class and all announcements that are made in class.
The seeking or giving of unauthorized help, or the use of unauthorized resources on exams, homework, or assignments is a violation of academic integrity and will result in the immediate failure of the student for the course and the filing of charges of academic dishonesty.
I will not accept assignments and quizzes that are copied from others. I will return such work without a grade. Students will be given an opportunity to rewrite and resubmit their work but I will deduct up to 10 points from the grade for turning in late homework. Until the assignments are returned and rewritten, I will record a grade of “0" for the paper.
Course Load Policy:
Students should expect to devote about nine hours per week to each three credit hour course. Generally three hours in class and six hours for homework, term papers, and other assignments. Faculty will not consider the number of hours that a student works -- either on full-time or part- time bases -- in developing curricula. Faculty will not accept outside employment as an excuse for inadequate performance or for late or non-completion of assignments. Students who feel that they must devote many hours to outside employment should take fewer courses. This is in accordance with the resolution of the School Faculty passed on December 6, 1986.
IU’s Flag E arly Al ert System
This semester I will be using IU’s FLAG Early Alert System to provide real-time feedback on your performance in this course. Periodically throughout the semester I will be entering data on factors such as your class attendance, participation, and success with coursework, among other things. This information will provide feedback on how you are faring in the course and offer you suggestions on how you might be able to improve your performance.
You will be able to access this information in the student center: Onestart > Student Services page > Student Center > My Academics and Grades > My Grades.
SCHOOL OF BUSINESS & ECONOMICS
“We will offer programs of business education of the highest quality in our region. Graduates
will exhibit a broad set of skills, derived from a balanced curriculum and actual business experience. We will become a locally recognized center of business & economics research and an acknowledged resource for providing professional solutions to business problems and issues facing our service area.”
School Mission Statement
The Indiana University Northwest School of Business & Economics, a regional business school in the Indiana University system:
AACSB International accredited programs;
We value high quality teaching and recognize that business and economics research, whether applied, basic, or teaching-related, is essential to that end.
We are committed to promoting lifelong learning by offering business degrees and management development programs. We are dedicated to sustaining the vitality and supporting the economic development of our region through encouraging our faculty and students to engage in the community.
Indiana University Northwest
School of Business and Economics
Standards of Professional Conduct
The School of Business and Economics functions as both a learning environment and
an academic community with the central functions of learning, teaching, and scholarship characterized by reasoned discourse, intellectual honesty, and mutual respect. The School of Business and Economics also supports The Shared Vision of Indiana University Northwest.
Governing Codes and Procedures
The rights, responsibilities, and conduct of students are defined and regulated by the Indiana University Code of
Student Rights, Responsibilities, and Conduct.
The faculty in the School of Business and Economics follow specific guidelines set forth in the Indiana University
Handbook, specifically under the section entitled “Code of Academic Ethics.”
The professional staff and the bi-weekly staff in the School of Business and Economics follow specific guidelines set forth in the Indiana University Professional Staff Handbook and the Indiana University Bi-Weekly Staff Handbook respectively.
Right to Accommodation for Individuals with Disabilities
Indiana University is committed to creating a learning environment and academic community that promotes educational opportunities for all individuals, including those with disabilities. Course directors are asked to make reasonable accommodations, upon request by the student or the university, for such disabilities. It is the responsibility of students with documented physical or learning disabilities seeking accommodation to notify their course directors and the relevant campus office that deals with such cases in a timely manner concerning the need for such accommodation. Indiana University will make reasonable accommodations for access to programs, services, and facilities as outlined by applicable state and federal laws.
Campus support office:
Jason Griffith, Disabilities Coordinator, Hawthorn 234, 219-980-6943
Student Support Services http://www.iun.edu/student-support/