University of Hartford
Barney School of Business & Public Administration
QNT 130
Introduction to Quant. Methods for Business






                                                                           Class Days           Tuesday and Thursday                CRN # 27302
                                                                           Class Hours         10:00-11:15 A.M                             Fall 2000
                                                                           Class Location     A-322

Instructor Dr. Rao Singamsetti



                                                  Office:             Location: A412J                                                                Office Phone: 860-768-4779
                                                                            Email:  Singamset@mail.hartford.edu                            Fax Number: 860-768-4911
                                                                            Web Site: http://uhaweb.hartford.edu/singamset
 

                                                  Office Hours: TWR-01:00-03:00PM, or by appointment



 

Texts:  Required: Statistical techniques in BUSINESS AND ECONOMICS; Robert D. Mason, Douglas A. Lind and William G. Marchal, tenth edition, Irwin/McGraw-Hill 1999

Optional: Study Guide for use with Statistical Techniques in Business and Economics; tenth edition, Robert D. Mason, e.t.a., prepared by Walter H. Lange
 
 
 

Course Description:
This course will equip students with the necessary tools in quantitative methods and their business applications. Topics include applications of marginal analysis, data analysis, probability, univariate and bivariate random variables, covariance and correlation, and linear models with business applications and decision making. Discussion of case studies and problem solving using Excel and other computer software will be included.

Course Objectives:
Upon completion of the course student should be able to
•   Draw and understand graphs as they relate to business
•   Make decisions under uncertainty based on expected values in both univariate and bivariatecases
•   Use computer software technology to present, analyze, and solve problems.
 
 

Grading:

  1. Two Quizzes                                     (10% each)
  2. Two Exams including Final                (35% each)
  3. Class Participation and Attendance    (10%)

   Mid Term Exam on 10/19/00
   Final Exam – 12/16/00 (02:00-04:00 P.M).

Class performance will be a factor in determining course.  The course requires regular class attendance.  Students who attend class infrequently in this course rarely do well in exams.  This is a tentative course outline.  Depending on time constraints and the pace of learning the instructor may add or subtract to the topical outline.

Contextual Coverage
Ethics: Included in Data Analysis
Global: Not Included
Political, Social, Regulatory and Environmental: Not Included
Technological: Excel and SAS are included in Data Analysis
Communication Skills: Included in class discussions of concepts and Q&A’s

Disability Guidelines
If you have been diagnosed with a disability and you require reasonable accommodations, you must make an appointment with the Director of Student Services at 768-4260.  Documentation must be presented so that you may be referred to the appropriate office for these accommodations.  All information is kept strictly confidential.

Academic Honesty Statement  from the Source and Manual of Academic Policies and Procedures:

B.  All students are expected to observe generally accepted principles of scholarly writing in all examinations, compositions, papers, essays, tests, quizzes, reports and dissertations whether written in the classroom or outside.  Sources of information used by a student in the preparation of work submitted as a basis for credit, or for a grade, or to satisfy graduate or undergraduate thesis requirements shall be clearly indicated in some conventional manner, such as by the use of quotation marks, footnotes, and bibliography.
C. Students are forbidden to submit as their own any project, paper, or creative work which is in whole or part the work of another.
D. The use of a term paper writing service, such services being prohibited by Connecticut law, is academically dishonest and violates rules of scholarship.
E.  All examinations and quizzes are to be completed without reference to books or notes, except when the instructor of a course shall have given explicit authorization for an "open-book examination" or some other specified sort of assistance.  Except as authorized by the instructor, no student is to give or receive assistance in the completion of an examination or a quiz.

Action to be taken in event of an alleged act of academic dishonesty
L.  2.  To report that the student is considered to be guilty of the alleged violation beyond a reasonable doubt, and to recommend one or more of the following:

(a) That the student be dropped from the course and/or a grade of "F" be assigned.
(b) that the student be suspended (i) for the remainder of the current semester, losing credit for their current academic program, or (ii) for the following semester or year;
(c) that the student be dismissed from the university.

Guidelines on Student Conduct
In an effort to create an environment that is conducive to learning, the following guidelines are presented to make explicit expectations that the Barney School has for students in its classes.  Students are expected to
1. Follow the Academic Honesty Policy without fail.
2. Respect differing views on campus and to engage in responsible discussion with others with whom you do not agree.
3. Regularly attend classes and submit assignments on or before specified deadlines.
4. Prepare for each class by completing reading assignments, homework and/or case preparation.
5. Not bring food and drink into the classroom unless instructor approval is given.
6. Raise a hand if you wish to speak or be excused from the classroom.  Students are not permitted to get up and leave at will.
7. Act in a reasonable manner in the classroom and halls so as not to disrupt others.
8. Dispose of gum, trash and paper in designated receptacles.  Do not leave trash in the stairwells, classrooms, desktops or any other non-designated receptacle.
9. See professors during their regularly scheduled office hours or by appointment.  Office hours are posted on each professor’s door.
10. Take exams when they are scheduled unless you have been excused on official university business, such as participation in athletic events, or medical emergency (notifying your professor prior to the exam).
11. Immediately contact professors if you will miss or have missed a class or exam and also to make up what you have missed.

The Source also specifies the following acts as punishable misconduct and subject to Judicial Review.
 a. Damage, destruction or theft of University property;
 b. Deliberate interference with any class or University function;
 c. Refusal to vacate a building;
 d. Tampering with fire alarms or fire-fighting equipment;
 e. Possession or use of a dangerous article;
 f. Illegal or unauthorized entry or presence in a facility;
 g. Alcohol – no possession or use in class;
 h. Noise and general disorderliness;
 i. Providing false information to a University office;
 j. Acting with violence;
 k. Failure to respond to a reasonable request and to produce identification;
 l. Possession, use or storage of drugs and drug paraphernalia;
 m. Abuse of computer access – incl. copying software;
 n. Visitors – you are responsible for the actions of your visitors.



 

Topics Covered:

Week#   Topic                                                                          Reading Assignments & problem #s

1             Review of basic mathematics                                        Handout & Exercise set
               The priority of mathematical operations
               Exponents & rules
               Factoring
               Computations involving decimals,
               Fractions and percentages

2             Linear functions & their applications                             Handout  &  Exercise Set II
               in business: Demand & Supply functions
               with one or more independent variables.
               Average, marginal values and elasticity.

3             Two equation models in business                                 Handout & Exercise Set III
                        i) Market equilibrium
                        ii) Breakeven Analysis
                        iii) Inventory cost functions and
                            Economic Order Quantity.
 

4             Optimization                                                               Handout & Exercise Set IV
                        i) Models of cost, revenue and profit
                           Maximization.
                        ii) Constrained optimization,
                            Graphical & Computer solutions

               Data Analysis
5  i) Graphical description of qualitative         Ch.2, pp 22-30 ex 8, pp35-39
   & Quantitative data                          ex 18,pp41-43 ex 22

6   ii) Descriptive quantitative measures          Ch 3 pp64-76 ex 14,48, pp79-80
            of location                                      ex 32, pp86-87.

iii) Practice session with SAS, Excel            Handout & Exercise Set V
              and business applications

7  iv) Descriptive quantitative measures           Ch 4, pp97-105 ex 16, pp110-
                                       of variability    114 ex 26, 30.

  MID TERM.

Probability & applications
8  i) Concepts & problems   Ch.5, pp141-148
9  ii) Laws of probability   Ch.5, pp150-160 ex 70,ex 78.

10  Random variables & Probability distributions
                   I) Discrete random variable, expected        Ch.6, pp185-192 ex 8
 value, Standard deviation & applications.
 

11  ii) Binomial Probability Distribution  Ch.5.pp  171-172, Ch.6,pp194-
      204 ex 18 & 24.
12  iii) Continuous Normal Probability                Ch.7, pp220-236 ex 12
                                       Distribution
13 Bivariate random variables, covariance                Ch.12, pp427-430 ex 4.
                          & correlation

  FINAL EXAM