Summer 2001 ECON 3406

ECONOMICS 3406

Summer, 2001 (3rd Session, June 11-July 6)

COURSE TITLE:

Statistics for Business II: Quantitative Methods and Applications for Business

INSTRUCTOR:

David Boldt dboldt@westga.edu

OFFICE HOURS:

M-F 10:00-11:00 am, 4:30-5:30 pm, and other times by arrangement

REQUIRED TEXT/SOFTWARE:

Anderson, Sweeney and Williams, Quantitative Methods for Business, 8th Edition, Southwestern-Publishing, 2001.
Homework assignments will require the use of Management Scientist. This software is available for purchase in
the bookstore (or may be used in the College of Business computer labs).

PREREQUISITES:

MATH 1413, CISM 2201 and ECON 3402. Students not meeting these prerequisites will be dropped from the class.

EXPECTED LEARNING OUTCOMES:

Upon completion of this course, students are expected to have a basic understanding of:

the role that quantitative models play in the decision making proces (LO5, LO12)
how to transform a rather general problem into a well-defined problem that can be solved quantitatively (LO5)
how to apply basic quantitative models to business situations (LO5)
how to collect and input data into basic quantitative models (LO2, LO11)
how to solve models "by hand" and with specialized computer software, spreadsheets and graphical packages (LO3)
specific quantitative models including decision analysis, linear programming, forecasting, transportation and waiting line (LO5)

Note: A complete list of expected learning outcomes (LO) for the Economics Department can be found at the department website (www.westga.edu/~econ/outcomes.html).

ASSESSMENT:

Your grade in the course will be assessed based on your performance on in-class tests, take-home assignments and class participation. There will be three in-class tests during the semester (see dates below). Exam 1 and 2 will each count for 23 percent of your grade. No makeups will be given except under extreme circumstances. The final examination will count for 31 percent of your grade. You will be able to bring in one page of notes (hand written only, 8 1/2 by 11 max) for each test. In addition, you will be assigned two take home problem sets (due on the dates listed below). These take home assignments will count for a total of 18 percent of your grade. These assignments will involve solving quantitative problems using computer software such as Management Scientist, spreadsheet software such as Excel, and Internet resources. The remaining 5 points will be based on class participation.

EXAMINATION SCHEDULE:

Test #1 Monday, June 18
Test #2 Monday, June 25
Final Exam Friday, July 6

PRACTICE EXAMINATIONS:

EXAM #1 (Sp 98)
EXAM #2 (Sp 98)
EXAM #3 (Sp 98)

PROBLEM SETS:

#1 Linear Programming (Due June 22)
#2 Forecasting (Due July 3)

Economics 3406 Course Outline

Topic	Chapter	Practice Problems in Text
Introduction	Ch.1	Prob. 8,11, 13-17
LP (Graphical)	Ch.7	Prob. 10-17,22-26,28-32 and 34-52; Case Prob. (pp. 262-264)
LP (Computer)	Ch.8	Prob. 1-2, 5-11,14, 16-18, and 22; Case Problems (pp. 316-318)
LP (Applications)	Ch. 9 (1,2))	Prob.1,3, and 9
Trans/Assignment	Ch. 10(1,2)	Prob 1-22; Case Problem (pp. 429-430)
Forecasting	Ch. 6	Prob.1-2,4-5,7,10-11,13-21, and 25-35; Case Prob. (pp.209-211)
Decision Analysis	Ch.4 (1-4)	Prob.1-13; Case Problem (pp. 141-142)
Decisions-Risk	Ch.5	Prob.1-10
Waiting Line Models	Ch. 15 (1-2)	Prob. 1-12

Note: Answers to the above practice problems may be found in the Solutions Manual to Accompany Quantitative Methods for Business which has been placed on reserve in the library.