Rutgers Faculty of Management
Beijing/Singapore Executive MBA Program
(As of Dec 11, 1999)

Course: 22:960:523:76
Statistics
Objectives:

· To understand the concepts underlying inferential statistics
· To apply statistical techniques to solve a variety of quantitative problems
· To be able to invoke appropriate techniques for various types of statistical problems

Text:

Statistics for Managers: Using Microsoft Excel 2nd ed.
David M. Levine, Mark L. Berenson, and David Stephan, Prentice Hall - 1999

There is a lot of ground to cover in a very short time. The more assigned reading you do before class begins, the better. I suggest you read at least through Section 6.6 before October 2, and through Chapter 8, by October 8 (more, if possible). For reading assignments, see below.

Outline:
This course relies upon the Excel spreadsheet for computations. Please be sure to have Microsoft Excel 95 or Excel 97 on your computer to be compatible with the textbook.
It is strongly suggested that you learn the material on pages 30 – 62, "Supplement: Using Microsoft Excel for Statistical Analysis," before class begins. We will review it at the beginning of the course but it will be helpful if you are already familiar with it. At least two of your courses will rely on Excel. The software is available on CD-ROM; please install it prior to class. Otherwise, you will need to have a CD-ROM drive connected to your computer in the first class in order to complete the installation. The CD-ROM will not be needed subsequently. It will be important that your computer have a floppy drive.
In at least one class, you will need an Excel add-in called "Solver." If it is not already in your computer, it will be necessary to bring your set up CD to class. We will install the necessary software during the first class.

Please bring your friend, the laptop computer, to every class.
In the text you will notice that several sections are followed by similarly numbered sections with an "E" suffix. For example, there is a section 3.2 and a section 3.2E. The E sections demonstrate Excel calculations. When assigned a specific section, please also study the corresponding "E" section.

Topics

Read

Problems
Summarizing and presenting data using Excel
Descriptive Statistics, Measures of Central Tendency
Measures of Variation, Data Presentation
Chapter 2 sections 2.1 – 2.4
Chapter 3 sections 3.1 – 3.4
2.10, 2.11, 2.13, 2.15, 2.29
3.9, 3.11, 3.20, 3.22, 3.29
Basic Probability
Simple probability, Joint probability
Conditional Probability, Decision Trees, Bayes Theorem
Chapter 4 sections 4.1 – 4.3
4.8, 4.9, 4.12, 4.19, 4.20,
4.29, 4.30.
Discrete Probability
Expected Value, Expected Monetary Value, Binomial Distribution, Omega Distribution, Poisson Distribution
Chapter 4 sections 4.4 – 4.6
4.35, 4.36, 4.44, 4.45, 4.49, 4.50
Normal Distribution
Standard Normal Distribution, Probability Tables, Finding Probabilities corresponding to known values
Chapter 6 sections 6.1 – 6.2
6.8, 6.9, 6.11, 6.17, 6.18
Sampling Distributions
Standard Error of the mean, Central Limit Theorem, Sampling Distribution of the proportion, Sampling from finite populations
Chapter 6, sections 6.4 – 6.6
6.34, 6.35, 6.37, 6.45, 6.46

Topics

Read

Problems
Estimation
Confidence Interval Estimation of the Mean, Student’s t Distribution, Confidence Interval Estimation for the Proportion, Sample Size determination
Chapter 7 sections 7.1 – 7.4
7.7, 7.8, 7.19, 7.20, 7.34, 7.35, 7.36, 7.71, 7.80
Hypothesis Testing
Null & alternative hypotheses, Critical value of the test statistic, Rejection & non-rejection, Type I & II errors, Z Tests, One tail tests, Two tail tests
Chapter 8
8.11, 8.12, 8.15, 8.22, 8.23, 8.34, 8.35, 8.46, 8.47, 8.61, 8.68, 8.69
Hypothesis Testing (Continued)
One Sample t Tests, Two Sample t tests, Pooled variance
Chapter 9 section 9.1
9.5, 9.6, 9.7, 9.11, 9.12
Simple Linear Regression
Least Squares Method, Standard Error of the Estimate, Measures of Variation in Regression, Correlation, Coefficient of Determination
Chapter 13 sections 13.1 – 13.3, 13.11
13.3, 13.4, 13.5, 13.6, 13.7, 13.55, 13.56, 13.57, 13.58

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