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Module Overview


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BMA5002 

Analytics for Managers
   2006/2007, Semester 1
   School of Business (Analytics & Operations)
Modular Credits: --
  Tags: --

Learning Outcomes

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This course introduces to the students the analytical approaches to solving business problems. It covers some basic quantitative models developed in the fields of Statistics and Operations Research, which are useful tools for managers to analyze business data and make better/optimal decisions. These models find applications in Finance, Marketing, and Operations of manufacturing and service firms as well as public organizations. The course exposes the underlying ideas of the model building and solution process, and demonstrates its applications in various companies of different industries.

The course also helps the students to master the foundational technical skills that are necessary for many other courses in the MBA program.

Prerequisites

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No formal mathematical training is required. However, be prepared for some “techiness” and number crunching that are part and parcel of the analytical approaches, but with aid of today’s computer it would not be so much formula memorization and hand calculation.

As extensive use of Microsoft Excel will be made during the course, familiarity with it would be good, but students will be helped to learn the workings of Microsoft Excel as well as some neat add-in packages.

Teaching Modes

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Learning-by-doing will be emphasized throughout the course. During the lectures the students are encouraged to bring their laptop computer to the classroom and go through step by step the model building and solution process together with the lecturer. Homework exercises will be assigned to help review and digest the ideas behind the process. The students will conduct case studies on problem scenarios and data provided in the textbook and/or encountered in their work experience to try out the process in solving business problems. The case presentations provide opportunities for the students to practice the critical skills in interpreting and marketing the model and its solution. At the end of the term a project based on real business problems will let the students put to work the quantitative models and test their validity and power.

Schedule

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Class Schedule

 

WEEK

DATE

TOPIC

TEXT READING

1

Aug 14

Graphical Display and Summary of Data

Chs 2, 3

2

Aug 21

Basic Probability Concepts and Statistical estimation of interested parameters on the general population 

Chs 5,6,8,9

3

Aug 28

Testing of hypotheses on possible values of the parameters on the general population

Secs 10.1 – 10.4

4

Sep 4

Tests of Normality

Comparison of parameters across populations

Sec 10.5, 10.7

5

Sep 11

Data Fitting by Least Squares Method

Secs 11.1 – 11.6

6

Sep 18

Regression Analysis:

Estimating Relationships Between Data Sets

Secs 12.1-3, 12.9-10

 

7

Sep 25

Mid-term break

 

8

Oct 2

Time Series Forecasting

Ch 13

9

Oct 9

Decision Making under Uncertainty

Secs 7.1 – 7.3

10

Oct 16

Optimization in deterministic environment I

Sec 15.2

11

Oct 23

Optimization in deterministic environment II

 

Secs 15.3 – 15.6

12

Oct 30

Optimization in deterministic environment III

Secs 15.7 – 15.8

13

Nov 6

Project Presentation

 

14

Nov 13

Project Presentation

 

15

Nov 20

Review

 

Synopsis

TopThe module teaches quantitative and analytical approaches to business problems, and provides foundational knowledge for other modules in finance, marketing, and operations management.

Syllabus

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Course Topics

 

  • Effective extraction and presentation of information from data
  • Statistical estimation of interested parameters on the general population 
  • Testing of hypotheses on possible values of the parameters on the general population
  • Comparison of parameters across populations 
  • Regression analysis to uncover relationships between data sets
  • Time series forecast
  • Optimization models in deterministic environment

Practical Work

TopAccess to computer with Mirosoft Excel installed is a must. Students having notebooks can bring them to lectures.

Assessment

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Assessment Methods

 

Class Participation                                : 5%

Homework Assignments (10 sets)         : 10%

Case Studies (2 cases for each team)    : 10%

Midterm Exam (Closed Format)           : 20%

Term Project                                        : 15%

Final Exam (Open Format)                   : 40%  

Remarks:      

1.      Team work is encouraged in this course. In particular, the case studies and the term project are done with the same team. While the homework assignments are submitted and graded individually, discussions with classmates are permitted.

2.      Active participation in class is important. During the lecture, follow step by step working on the computer to learn model building and solution. Be attentive to the case presentation of other teams, and involve in the Q&A.

3.      Homework assignments will be graded, and the most important factor is to do it diligently, completely, neatly.

4.      Each case presentation will be under 10 minutes, with no more than 5 slides. Correct application of the model building and solution process is assumed, but clarity, convincing and interesting in presentation is as, if not more, important. Assessment will be partially based on the interests and responses the presentation generates from fellow classmates.

No need to hand in a written report, just submit the presentation file.

5.      Midterm exam will be on Oct 7 (Saturday). It is in closed format, so no computer is necessary and allowed for the exam, but a simple calculator will do. It covers the first 6 weeks’ topics.

Final exam will be on Dec 1 (Friday) afternoon. It is in open format, so computer, textbook, class notes, homework solutions, etc., are all allowed in the exam. It covers all the topics of the course, but with emphasis on the decision making under uncertainty and the optimization models in deterministic environment.

Both exams will be 3 hours long.

6.      Term project must be concerned with a real business problem situation. The problem itself counts 5%. The written report with about 10 pages counts 5%. The presentation of about 20 minutes with less than 10 slides counts 5%.    

A project proposal will be finalized by Oct 23.       

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