"MBA 511 Quantitative Methods - PowerPoint"
MBA 511: Quantitative Methods June 29, 2009 Introductions Dr. Steve Mahar Office: CIS Building - 2021 Phone (office): 962-3676 Phone (home): 228-0562 Email: email@example.com Today’s Class Introduction Syllabus highlights Descriptive Statistics & Data Analysis Syllabus Highlights Books: Course Packet (and Jumpstart modules posted online) Harnett and Horrell Spreadsheet Modeling and Applications: Essentials of Practical Management Science; 1st edition (w/software) Winston and Albright Syllabus: Grading 4 (group) homework assignments (50%) 1 final exam (50%) 3 hours to complete In class, Monday August 3 Syllabus: Miscellaneous Class files will be posted on my website http://www.csb.uncw.edu/people/mahars/mon/index.htm Course Objectives To expose you to the use of analytical techniques and tools in managerial decision-making To provide a broad understanding of how these tools are used in various business areas To give you the skills to solve complex problems using analytical techniques and tools on spreadsheets Course Structure Quantitative Methods Descriptive Statistics Harnett: Chapters 1,2,3 & Data Analysis Forecasting Harnett: Chapters 7,8 Simulation (& Spreadsheet Modeling) Albright: Chapters 2,9 Optimization Albright: Chapter 3 (Linear Programming) Populations and Samples Population of interest (e.g., customers at Rampage Yachts, NC temperatures in June…) Outlier: Sample value that’s not part of our population of interest Sample: Subset of the population (dataset) We want to make decisions about the population based on the information from the sample Discrim Dataset Female employees of a leading Detroit bank have complained that male employees have been given preferential salary treatment. You’ve been asked to summarize the available information to address the discrimination question Discrim Dataset http://www.csb.uncw.edu/people/mahars/mon/index.htm dummy variable Discrim Dataset Ratio data? Variable has a natural zero (meaningful to take ratios) Ordinal data? Outcomes of a variable express ranked order Categorical data? Variable is sorted into categories according to characteristics Lab Problems Your assignment during this lab session is to: Work through as many of the following problems as possible (in module 2 & 3 handouts): 2.1, 2.2, 2.4-2.7 3.1, 3.3, 3.7a, 3.11 Envelope Game Expected Value and Variability Expected value of X E[X] = X P( X ) i i Standard deviation of X sX = X E[ X ] P( X i ) 2 i For Next Time Finish reading chapters 1 & 2 (Harnett) and finish working the lab problems Read chapter 3 (Harnett) Additional Info from the 1st Class You can use your existing five/six member teams for the HW assignments Expected return at the start of Deal or No Deal $131,478 Risk?