BA 723: Analysis and Presentation of Data for Decision Making

Overview

Quantitative is defined as the ability to be estimated by quantity.  It also relates to the process of describing or measuring of quality.

Statistics relates to the science that deals with the collection, classification, analysis, and interpretation of numerical facts or data, and that, by use of mathematical theories of probability, imposes order and regularity on aggregates of more or less disparate elements.

The purpose of this course is consistent with one basic concept.  The course concept focuses on methods for individuals within the business arena to improve business processes. New patterns of organizing work and business are emerging, which drive a demand for new and inventive ways to use the power of statistics. Using this power presents new forms of social interaction and coordination. These forms allow business to be more creative, enhancing the new patterns or organized work and commerce.

This course concentrates on the methods involved in the collection, presentation and description of information within the business area. Learners will advance from the basic concepts of probability, binomial distributions, normal distributions into more advanced learning modalities of reaching business conclusions pertaining to methods of regression, multiple regression modeling, time series forecasting, and methods.  All learning experiences are directed towards the integration, understanding and application of statistical concepts into the practicum, for improving business processes. 

The integration of these concepts will be demonstrated through a documented final capstone project in the final Module.

Learning Outcomes

Upon successful completion of this course, students will be able to:

This course is designed to give the incoming doctoral student a comprehensive learning modality of both business and statistics. The integration and application of these both concepts will be the structural basis of Rational Decision Making with in the Business and Quantitative arenas.

This course builds on the statistical models learned in BA721 and BA722 and integrates these methods into a business decision making model where the student will learn and comprehend:

• quantitative models for rational decision making
• methods for drawing conclusions about populations
• statistical methods for process improvement, and
• methodologies for obtaining reliable forecasts

Required Texts
BA 723 texts are available from the JIU/MBS bookstore