Elementary Business Statistics
Unique Number 04130
MWF 9:00AM-10:00AM UTC 4.124
Samuel H. Huang
Hours: Monday, Wednesday 10:00AM – 11:30AM or by appointment
Office: CBA 3.332F
The Practice of Business Statistics, Using Data for Decisions, First Edition, by David
Moore, George McCabe, William Duckworth, and Stanley Sclove, W.H. Freeman and
Test 1 25%
Test 2 25%
Final Exam 35%
Introduce business students to basic concepts in statistics of relevance to business
decision making. Topics include basic data analysis, random variables and probability
distributions, sampling distributions, interval estimation, hypothesis testing and
regression. Numerous examples are chosen from finance, marketing, management and
other fields. Most of the techniques learned in class have been widely used in many
business fields and non-Business fields. For example, regression analysis has been
extensively applied in marketing studies to find market trends, people’s tastes, and
consumers’ behavior. Hypothesis testing also have many applications in the financial
fields to student the financial risks. Upon completion of the course you should be able to
think critically about data, use graphical and numerical summaries, apply standard
statistical inference procedures, and draw conclusions from such analyses.
WEB PAGE http://courses.utexas.edu
This course will use a password-protected class web site. Syllabus, notes, assignments,
and other resources will be available within this site. Site activities will also include
posting of grades.
You can login to the course website using your UT EID. You should be able to use the
website on your computers running Windows, Internet Explorer, Excel and the Adobe
Acrobat Reader. Alternatively, you may need to work in the CBA labs.
There will be three written and two Excel homework assignments. The homework
assignments are designed to keep you current in the course. The assignments are
available online on the course web page. It is recommended that students work on
assignments independently. Assignments must be submitted before class on the due date.
A correct final answer is not sufficient to guarantee full points. Please explain your
results in any submitted homework assignments. For each Excel homework assignment,
you have to explicitly write down the formulas you used in your Excel cells.
Working the assigned problems is not sufficient to guarantee an A in the course. Your
proficiency with statistics will improve with active practice. It is best for you to practice
statistics on a frequent basis. The textbook has about 100 problems per chapter for
additional practice. Answers to all odd numbered problems are given in the back of the
textbook. Some problems at the end of each chapter will be assigned, but there is no need
to turn in.
There will be two tests and a final exam given at designated times during the semester.
The two tests and the final will be multiple-choice and will require computation and
interpretation of the various statistical methods covered in this course. All the tests and
final will be close book and close notes. For every tests and final exam, you may bring a
single 8.5 by 11 inch sheet of paper with any formulas or conceptual items you may need
written on it. You are responsible for deciding what to write on this sheet and you may
write on both sides of it. Necessary distributional tables will be provided with the test; no
formulas will be provided. You may bring a calculator to the exams. You must bring a
picture ID to each test and exam. The final exam will be cumulative.
There will be no make-up tests. You must inform the instructor in advance if you are
going to miss a test due to observance of a religious holiday or an official university
You will need a calculator for this course to be used with homework and brought to the
tests and final exam. A basic calculator that adds, subtracts, multiplies, and divides and
finds square root will be sufficient. You may not use a cell phone, PDA, or laptop to do
calculations during the exams. You should also have a recent version of Microsoft Excel
on your computer or you may use the computers in the Business School labs. The
Business School has determined that this course will be taught utilizing Excel because it
is what you will most likely have available to you in your future work environment.
However, Excel has limited capability for more advanced statistical analysis. If time
allowed, we will introduce one or two other commercial statistical software which have
been widely used in many industries.
The dates on the course outline on this syllabus are approximate and therefore subject to
change. Such announcements will be made in class and posted on the course website.
Academic Dishonesty of any sort will not be tolerated and will be handled in accordance
with University Regulations. Academic Dishonesty in this course includes copying or
collaborating during an exam, discussing or divulging the contents of an exam with
another student who will take the test, and use of homework solutions from another
student or semester.
STUDENTS WITH DISABILITIES
The University of Texas at Austin provides upon request appropriate academic
accommodations for qualified students with disabilities.
TENTATIVE COURSE SCHEDULE
Week Date Topic Textbook Due Date
1 14-Jan Introduction
Displaying Distributions 1.1
Describing Distributions 1.2
2 21-Jan The Normal distribution 1.3
Using Excel for Statistics
3 28-Jan Scatterplots and Correlation 2.1, 2.2
Least Squares Regression 2.3, 2.4
4 4-Feb Relations in Categorical Data 2.5 Hw #1 due Feb. 8
Designing Samples 3.1
5 11-Feb Designing Experiments 3.2 Hw #2 due Feb. 15
Randomness 4.1, 4.2
Sampling Distributions 3.3, 4.4
6 18-Feb Test #1 Review Test #1 Feb. 20
7 25-Feb Estimating with Confidence 6.1
8 3-Mar Tests of Significance 6.2
9 10-Mar Spring Break
10 17-Mar Using Significance Tests 6.3
Inference as a Decision and Power 6.4
11 24-Mar Inference for One Mean 7.1 Hw #3 due Mar. 28
Comparing Two Means 7.2
12 31-Mar Test #2 Review Test #2 Apr. 2
13 7-Apr Inference for Regression 10.1 Hw #4 due Apr. 11
Inference for Prediction 10.2
14 14-Apr Assumptions
Multiple Regression 11
15 21-Apr Multiple Regression 11 Hw #5 due Apr. 25
16 28-Apr Final Review Final Exam May. 2