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Business 205

Business 205. Statistical Methods in Economics and Business Dr. Kathy Broneck. Plans for Today. Introductions Go over syllabus Office Information and Office Hours Math review Excel review Team Project Overview Milestone #1. Syllabus Key Points. No late assignments Respectful attitudes

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Business 205

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  1. Business 205 Statistical Methods in Economics and Business Dr. Kathy Broneck

  2. Plans for Today • Introductions • Go over syllabus • Office Information and Office Hours • Math review • Excel review • Team Project Overview • Milestone #1

  3. Syllabus Key Points • No late assignments • Respectful attitudes • Willingness to learn • Grades are not given out freely • Webpage: http://dtc.pima.edu/~kbroneck/bus205.html

  4. Math Review • PEMDAS • Please Excuse My Dear Aunt Sally • Parentheses • Exponents • Multiplication & Division • Addition & Subtraction

  5. Excel Review • Adding in Formulas • Static Cells • Variable Cells • Shortcuts • Formatting

  6. Goals of the Class besides Stats • Responsibility • Worth ethic • Teamwork • Skills for Business World & 4-year college

  7. Taste Test • Coke versus Pepsi…which would you choose? • 2 cups and a survey • Businesses make decisions about marketing products all the time based on statistics!

  8. To Expand or Not? • Surveys used in stores • Sales receipts counted • Trends looked at over the past year • Adding new stores to the chain in certain parts of the country

  9. Team Project • Overall Goal • At the end of the year, turn in a Business Proposal • Use survey, design, implementation, write-up, and statistics from class • Give a presentation on your Business Proposal

  10. Team Project Milestones • Milestone 1: Group Contracts • Milestone 2: Literature Review • Milestone 3: Hypothesis • Milestone 4: Survey

  11. Team Project Milestones • Milestone 5: Data entry and correlations • Milestone 6: Result Write up • Milestone 7: Final Proposal • Milestone 8: Final Presentation

  12. Goals Beyond Proposals • Proposal • Parts of the proposal • Improve business writing skills • Logical reasoning and justifications • Basis for designing and implementing a small study • Using statistics in “real life” situations • Understanding survey writing

  13. Goals Beyond Proposals • Presentation • Dress codes • Giving group presentations • Preparing you for tough situations during Q&A sessions

  14. Goals Beyond Proposals • Teamwork • Working in groups • Taking responsibilities for actions and inactions • Prep you for a 4-year or job in the business world!

  15. Milestone #1 • Choose an area of interest within the Business field • Pick a total of 5-6 people a group (including yourself!) • Write up and turn in a team contract stating GOALS, REWARDS, and CONSEQUENCES

  16. Contracts • Business Contracts are written agreements group members have with one another that “spell out” what is to be expected of each individual on the team. • All business contracts must be signed by team members.

  17. Example Contract • We have agreed on the following conduct for our group: • Members may not miss more than 1 meeting for milestones. If members miss more than 1 meeting, they will get 5 points deducted on their group score. • Members must be respectful to others. The first disrespectful comment will be a written warning to the group’s leader. A second comment will result in being evicted from the group. We have read and agree to the contract __________________ ________________ (signature) (date)

  18. Forms for Contracts • In accordance to our contract, _______________ has missed _____ meetings. Therefore, s/he is to have 5 points deducted from the group score. • Leader’s signature_________________

  19. Milestone #1 • Groups of 5 or 6 • Write out a team contract • Pick what business topic you want to work on • Type it up • All group members must sign it!

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