Course Overview

Business Strategy Relies on Accurate, Detailed Analysis Providing Useful Information

What is “data driven decision making”? You may have been hearing that we are operating in the age of “Big Data.” While the problem 50 or 100 years ago may have been to collect enough data to make good decisions, the problem now is how to perform meaningful analysis when we are awash in a sea of data. “Data” means the raw numbers we start from. “Information” implies meaning - transforming that data into something sensible that can inform management in order to reduce uncertainty, reach the best decision, or enhance processes.

Into this sea you plunge. Your lifeboat will be a set of skills and techniques, plus an understanding of when you should use each one. Your task is three-fold - learn how to do the analysis, learn when to do the analysis, and learn what the results mean!

Class Format

What are we going to do every day? On Wednesdays, we will be in the computer lab actively working with Excel and Access to improve your skills.

Other days, we will talk about analytical techniques. I will demonstrate problems in class and we will collectively work on solving problems. You should read the assigned chapters and any other material before class and come prepared to discuss and ask questions.

You won’t learn how to steer your lifeboat without practice. Therefore we will work on problems together - bring your laptop or at least a calculator (or slide rule if you’re really old schoolin’ it).

If you have a Mac, come to office hours and I will help you translate to Excel for Mac. However in lab I will only be supporting the PC platform.

WHAT WILL YOU KNOW 4 MONTHS FROM NOW?Upon completion, you should be able to:

PERFORM MANY OF THE STANDARD ANALYTICAL PROCEDURES USED IN DECISION MAKING

BE ABLE TO DISCUSS YOUR ASSUMPTIONS AND REMAINING UNCERTAINTIES ABOUT YOUR ANALYSIS

BE ABLE TO EXPLAIN THE RESULTS OF YOUR ANALYSIS IN LESS TECHNICAL WAYS THAT MAKE SENSE TO MANAGERS

UNDERTAKE THE STUDY OF ADDITIONAL ANALYTICAL TECHNIQUES WITH A SOLID BACKGROUND AND REASONABLE COMFORT LEVEL

USE EXCEL EFFECTIVELY FOR A VARIETY OF STATISTICAL AND MATHEMATICAL ANALYSES

USE MS ACCESS AT A BASIC LEVEL TO ADD TO AND QUERY A DATABASE

PROVIDE SOUND RECOMMENDATIONS FOR MANAGERIAL DECISIONS BASED ON THE RESULTS OF YOUR ANALYSIS

QMBE 1320 - QADM FALL 2014

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2006 2007 2008 2009

Region 1 Region 2

Quantitative Analysis and Data Management 10 Commitments for Success with Dr. Kim McKeage

MATERIALSTHINGS YOU NEED FOR THIS CLASS

TextEssentials of Business Analytics (2015) by Camm, Cochran, Fry, Ohlmann, Anderson, Sweeney, and Williams. From Cengage Learning. ISBN 978-1-285-18727-3 US Edition Only.

You will need to have access to MS Excel and MS Access in a PC platform, either your own copy or in the HU computer labs.

A good basic calculator that includes square roots, exponents, and logarithms is also highly recommended. You may prefer to use a statistical/mathematical/graphing calculator but it is not required. Assume I do not know how to operate your particular model of calculator. You may use your smartphone if it has a calculator app that does advanced functions. During exams, sharing calculators is not allowed!

You should also be prepared for outside readings, including web articles, that I may assign as we go along.

HOW ARE YOU GOING TO DEVELOP ALL THESE SKILLS IN FOUR MONTHS?

Problem SetsLike Quidditch, practice makes perfect. We will have about 5 problem sets assigned throughout the semester. Once a problem set is available (in class or online) you will have ONE WHOLE WEEK to work on it! This semester, I am going to assign you a study group of 3-4 people and you are expected to work with that group on your problem sets.You must turn in your own individual copy of the problem set, though, including your summative answers to Excel problems

COMMITMENT #1 - Make sure you understand the answers you are submitting. If you rely too heavily on others for the work and do not master the concepts and techniques, your exam performance will suffer, and you will miss important concepts. Some problems will require the use of Microsoft Excel. You can submit one set of output, appropriately labeled, from your study group for these problems. All group members who worked

on the problem should be named on the output, and each person should also include answers to any questions on their own problem set. That way I can see if you understand the output.

Problem sets are due at the beginning of class on the due date. If you turn it in after the beginning of class, there is an immediate 20% score reduction. The “hard date” is the beginning of the following class - no problem sets will be accepted once the next class session begins.

Your Instructor: Dr. Kim McKeage, Associate Professor of Quantitative MethodsOffice: 209E in GLC Phone: 651.523.2708Best way to reach me? EMAIL: kmckeage01@hamline.eduGenerally I respond to email within 24 hours, except for weekends and holidays. I forget to check my voice mail! I am also on LInkedIn and Twitter (@DrKMcKeage)Office Hours: Mon & Wed 4:00 - 5:00 p.m., Thurs 2:00 - 3:30 p.m. and you should feel free to stop in anytime my door is open!

ECON 1340 - QADM FALL 2013QMBE 1320 - QADM FALL 2014

A Hamline graduate will be able to:• serve, collaborate, and lead in a community• solve problems in an innovative, integrative, analytical, and ethical way• work with and create understanding across cultural differences locally, nationally, and

internationally• use information and technology competently and responsibly• communicate effectively in writing and in speaking• apply theories and methods of a field of expertise• engage independently and reflectively in lifelong learning

As part of an ongoing process, the Hamline School of Business assesses various aspects of student learning to help improve our undergraduate majors, concentrations and minors. If the outcomes for this class are assessed during this semester, this assessment may be done by the course instructor and/or guest faculty. This assessment will not impact your grade for the course. Your grade is calculated based on the grading structure contained in the course syllabus. HSB will not be looking at your individual performance but will instead be analyzing the overall performance of its students, to identify potential program improvements.Your instructor will provide you with the assessment rubric that will be used to evaluate student work so that you are aware of what is being assessed.

For all of our BBA programs, we expect a graduate will be able to: write professional documents; deliver professional formal presentations; understand core concepts and demonstrate knowledge in accounting, business law, economics, finance, management, marketing and quantitative business analysis; demonstrate proficiency in using analytical software tools; use appropriate methodology to analyze and synthesize data.

In this course, the core outcomes are:

• Solve problems in innovative, integrative, analytical, and ethical ways

• Use information and technology competently and responsibly

• Apply theories and methods of a field of expertise

We will learn to solve business problems - and problems of data representation generally - in a systematic, analytical, and integrative way. We will use information technology - in particular, Excel - to help us solve problems. We will apply sounds statistical techniques and methods. I expect you to develop skills in analysis that you can apply in other courses, your professions, and in activities undertaken through community/public service.

Within HSB this course contributes to Critical Thinking and Technology Use learning outcomes.

Hamline School of Business is an inclusive community dedicated to the professional and personal development of our students, faculty and staff and to the advancement of the common good. We achieve our mission through teaching excellence, the integration of theory and practice, and the engagement of our stakeholders to address complex issues facing the business, government and non-profit sectors. We see our mission firmly rooted within the values of Hamline University.

“WHERE THE BUSINESS, GOVERNMENT, AND NON-PROFIT

SECTORS INTERSECT TO EDUCATE

AND COLLABORATE FOR THE

COMMON GOOD.”

ECON 1340 SPRING 2013

Hamline School of Business graduates will:

A Hamline graduate will be able to: 

The learning outcomes for this course are to help you:

Applications and Assessment

Possess strong critical thinking and problem-solving skills (I). Specifically, students will use appropriate methodology to analyze and synthesize data.

Solve problems in an innovative, integrative, analytical, and ethical ways.

(i) Identify the model(s) and quantitative method(s) appropriate to a given business problem/context,

(ii) apply those methods and interpret results, and

(iii) formulate analysis-driven findings/recommendations.

In-class problem solvingGraded problem setsExams

Have the ability to use state of the

art technology within their

professions. Specifically, students

will demonstrate proficiency in

using analytical software tools.

Use of information and

technology competently and

responsibly. 

Effectively use appropriate tools in Microsoft

Excel (e.g., Data Analysis, Solver, What-if

Analysis, simulations) that assist in business-

oriented quantitative analysis.

Gain familiarity with MS Access database

program at a beginning level.

Class lab sessions

Graded problem sets

Lab exams

Be effective communicators in professional settings (both in writing and presentational speaking).

Communicate effectively in writing and in speaking.

Communicate analysis-driven findings/recommendations.

Oral: Class participationWritten: Problem sets and written exams, electronic communications

Understand concepts and

demonstrate knowledge in core

areas of their field of study.

Apply theories and methods of a

field of expertise. 

Demonstrate knowledge of mathematics and

corresponding analytical methods that are

useful in management.

In-class problem solving

Graded problem sets

Lab exams

Written exams

Possess strong critical thinking and problem-solving skills (II).

Engage independently and reflectively in lifelong learning.

Develop a willingness to try new methods and problem-solving approaches, finding appropriate resources and supporting technological tools.

In-class problem solving, daily problemsLab sessions & graded problem setsIndependent application (work, research projects, etc.)

Quantitative Analysis and Data Management – Learning Goals and Outcomes (HSB Faculty Approved)How does this course fit into your broader Hamline University and School of Business experience?

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Hamline Plan

M

Quantitative Reasoning

R

Formal Reasoning

Students will be able to:Students will be able to:

The Hamline Plan is an integrated, holistic plan for comprehensive learning outcomes for ALL Hamline graduates. The plan elements are designated by letters but they do not operate in isolation. This course contributes to the Hamline Plan in two areas - Quantitative and Formal Reasoning.

- Explain information presented in mathematical forms (e.g., equations, graphs, diagrams, tables, words) and convert information from one form to another

- Perform calculations successfully and express quantitative evidence in support of a conclusion or recommendation

- Make and evaluate important assumptions in data analysis and recognize the limits of the analysis

- Understand the difference between inductive and deductive reasoning and demonstrate familiarity with basic methods of assessing inductive strength or deductive validity

- Understand and make use of symbolic and abstract representations

- Solve problems that require rigorous formal demonstrations with multiple steps

Hamline Plan Outcomes M and R are aligned with University Learning Outcome 2: Solve Problems in an Innovative, Integrative, Analytical, and Ethical Way.

- Explain information presented in mathematical forms (e.g., equations, graphs, diagrams, tables, words) and convert information from one form to another

- Perform calculations successfully and express quantitative evidence in support of a conclusion or recommendation

- Make and evaluate important assumptions in data analysis and recognize the limits of the analysis

- Understand the difference between inductive and deductive reasoning and demonstrate familiarity with basic methods of assessing inductive strength or deductive validity

- Understand and make use of symbolic and abstract representations

- Solve problems that require rigorous formal demonstrations with multiple steps

INVESTOR NEWSLETTER ISSUE N°3 FALL 2009QMBE 1320 - QADM FALL 2014

Hamline Plan This course also delivers Hamline Plan learning outcomes in the areas of Quantitative Reasoning (M) and Formal Reasoning (R).

Part of our participation in the Hamline Plan involves participation in assessment of learning outcomes. You will not have additional assignments or exams for assessment - we will make use of the materials we already have in the class.

If you have any questions about Hamline Plan assessment or about the learning outcomes, please let me know. I serve on the University’s Undergraduate Curriculum Committee and I am very familiar with this process.

What Woody Allen didn’t note is that the other 20% of success is largely made up of good habits! In order to develop those habits, you should plan to spend at least 30 minutes a day, EVERY DAY, on this class. For most people that will only be the minimum necessary, but if you get in the habit, it will help you study and work effectively.

What will you do with that time? Read, work on problems, talk with others about the material, go to tutoring, come to office hours, surf the web looking for more information about a topic, watch online videos about the topic, etc. There is always something to do to help your understanding.

Class ParticipationYour participation score starts at 80%. Your score can go up or down depending on what you do.

Score Increases You gain points by consistent attendance and participation during class, as well as by turning in the “daily problems.” Just about every day we will

have some sort of problem to talk about - either assigned the day before or given in class. You will do the problem and submit the solution that day for credit (you don’t have to get it right). Or instead of a solution, I may ask you to submit a summary of your approach or your thoughts about a problem or question. Be prepared for anything.

Score DecreasesI keep track of who is in class and who is not. You get two “free” absences where I don’t need any excuse or documentation. After that, you will lose 5 points (out of 100) for each additional absence. Two episodes of being late count as one absence. If you are having a longer-term issue (like a health problem) please work with Student Affairs to document your extended time away from Hamline.

You can also lose points for being disruptive of the class. By entering this community of learners you make COMMITMENT #2 - to respect yourself, your classmates, the instructor, and any guests by always acting in a professional and collegial manner in class and out.

PARTICIPATIONIT’S MORE THAN JUST SHOWING UP

You may have heard something like: 80% of success is showing up. Woody Allen

Well, yes and no. It’s kind of like the lottery slogan - “you can’t win if you don’t play.” That’s true, but playing doesn’t always lead to winning! So what else do you have to do to win - besides buy a ticket?

Study HallOutside my office there is a big round table, and now there are two white boards on the walls. You are welcome to study there, where there are resources (including me, other students and faculty, room to collaborate, and board space for problem solving). Literally, it’s studying in the hall.

ECON 1340 - QADM FALL 2013

From ATI at: http://www.abasystech.com/us/en/data-warehousing-solution.html

QMBE 1320 - QADM FALL 2014

Additional Commitments

AssignmentsAnother commitment you are making - COMMITMENT #3 - is to turn in your assignments on time. If an assignment is due and you must miss, get your assignment turned in by someone or turn it in early.

If you miss class, you also commit (COMMITMENT #4) to taking responsibility for getting notes from your fellow students, as well as any handouts and assignments. You should check Blackboard as well to see if something is posted which you missed. I strongly suggest you team up with at least one “study buddy” in this class, either from your work group or someone else.

Exams - Exams will include conceptual material and problems based on the graded problems sets and in-class work. The final exam will be cumulative as well as covering new material, and the second mid-term may have a cumulative component as well. You are committing to being here for the exams (COMMITMENT #5) unless absence is unavoidable. Make up exams will be given ONLY in the event of unavoidable absence due to events such as verified illness, accident, participation in intercollegiate athletic or other university-sponsored activity, jury duty, military

service, and religious observances. If it is non-emergency situation that is known in advance, you must provide in advance appropriate written documentation from a responsible university official discussing the reason for absence.Academic Integrity - By joining this class, you make COMMITMENT #6 to follow all Hamline University standards of academic conduct. As a learning community, we do not tolerate academic dishonesty in the form of plagiarism or cheating. Hamline’s Honor Code, which governs the conduct of students as well as faculty, staff and administrators, can be found at the following location:http://www.hamline.edu/Policy.aspx?id=2147487457In this type of class, cheating is a particular concern (we don’t write many papers). Cheating includes using the work of another student or collaborating on work that is supposed to be done individually, using materials that are not allowed in the completion of an assignment or exam, or misrepresenting the integrity of your work in some way. If you engage in these activities, you cheat yourself, and you also cheat your classmates who are working hard to learn and better themselves.Plagiarism is the representation of another’s words, ideas, or works as one’s own without adequate attribution (citation). It usually arises in situations where students are writing papers.

MEASURING YOUR ACCOMPLISHMENTS

PROBLEM SETS/HOMEWORK 25%MIDTERM EXAMS CONCEPTUAL EXAM 1 12% LAB EXAM 1 8% CONCEPTUAL EXAM II 12% LAB EXAM 1I 8%FINAL EXAM CONCEPT PORTION 20% LAB PORTION 10%PARTICIPATION 5%

In the spirit of the class, we will use mathematical rules for rounding.

NEWSLETTER STAFF

Course DesignKim McKeage & Stacie Bosley

Layout and Syllabus DesignKim McKeage

Some photos from the internet

ECON 1340 SPRING 2013

Grading Scale

A 93% and aboveA- 90-92%B+ 87-89%B 83-86%B- 80-82%C+ 77-79%C 73-76%C- 70-72%D+ 67-69%D 63-66%D- 60-62%F Below 60%

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Additional Commitments Continued

Civil Classroom BehaviorYou have made a commitment (COMMITMENT #2) to be respectful of the class, including coming to class on time, not leaving early, and not disrupting class.

You make a commitment to learn the rules of the class, including reading this syllabus.  Class time is extremely precious - don’t waste it! Try to distinguish between policy/procedural questions, and substantive questions about the material. If you have a policy question, check the syllabus, assignment, or Blackboard to see if the answer is there – BUT if it’s not, make sure you ask about things that are not clear to you. For questions about the material, and especially when you have questions where answers would clarify things for you or for other students, you have a responsibility to the class to ask those questions.

You are agreeing to be tolerant of others’ opinions and ideas, even though you may not agree with them. In academic settings, disagreements are resolved by reference to research, analysis, and logical argumentation, with discussions often resulting in compromises. If disagreements cannot be resolved, we agree to disagree but still respect each other. 

Electronic CommunicationsPeople often write unprofessional emails, Tweets, texts, etc. - they leave off citations, use a confrontational tone, address faculty by their first name or as “hey”, have poor grammar or spelling, and sometimes omit a subject line. By joining this class you are committing (COMMITMENT #7) to communicating with your peers and instructor in a professional manner. If

you send badly written or rude electronic communications it just provides tangible evidence of poor communication for your reader to pass on to others, and to keep on file in case anyone in the future wants to know about you. Good electronic communication skills are crucial and a part of your online reputation. Guard that reputation very carefully. Some communications are best done in person, not electronically.  If you have a complex question or problem, need to talk out a serious situation or concern, or are in trouble in the course in some way, it is better to

come to office hours or email or call me (but email tends to get a quicker response) to make an appointment to meet.  I also have teleconferencing gear and access to software so we can meet “virtually” and I may hold virtual office hours this semester so we can practice remote conferencing.

Other Electronic ThingsDuring class time, you are committing to being there - physically and mentally present with us (COMMITMENT #9) - during class time. Turn off all devices that you are not actively using for class. If you forget to turn off your cell phone once in a while, turn it off as soon as you realize your mistake (I tend to forget too).  If you have a critical situation and need to be available by phone, tell me about it before class.  If you just answer a call or text and you are not experiencing a critical situation, you may leave for the day and your participation grade will be adjusted as if it were an unexcused absence. Texting during class, emailing, surfing the web, etc. are all reasons for dismissal from the class and penalties to your grade.

Course ChangesI reserve the right to modify the course requirements, assignments, or grading procedure as circumstances dictate. I will make every attempt to stick to the schedule and the syllabus as currently stated.

COMMITMENT #8: Check your Hamline email AND the Blackboard course site every day!

QMBE 1320 - QADM FALL 2014

Disability Services

Students  who  have  documented  disabili3es  that  may  affect  their  work  in  the  course  and  are  registered  with  HU  Disability  Services  should  inform  me  by  the  end  of  the  second  week  of  the  semester  so  I  can  work  with  you  on  appropriate  course  adjustments.    The  sooner  you  inform  your  instructor(s)  about  the  need  for  accommoda3ons  the  easier  it  is  to  accommodate  you.    Please  note  that  appropriate  accommoda3ons  begin  once  the  instructor(s)  have  received  official  no3fica3on  and  will  not  necessarily  be  applied  retroac3vely.    For  more  informa3on  about  university  policies  and  services  regarding  students  with  disabili3es,  please  visit  hIp://www.hamline.edu/disabili3es/.  

Other useful resourcesStudents experience difficulty in courses for a variety of reasons.  If you are having problems that affect your ability to do your school work, contact the Office of Student Affairs to find out what resources are available to you.  Their website is:  http://www.hamline.edu/offices/dean-of-students. For academic difficulties contact CAS in the basement of Bush Library. They typically have weekly tutoring in Quant Methods/Stats that some students find very useful for this class. I have also included some other potentially useful links in your Blackboard course under the Syllabus tab.

Online ResourcesThere is a Blackboard course for this class, and you must monitor it for announcements and information.  If you are not familiar with the functions of Blackboard make sure you explore it and ask questions if you do not understand how to access something. 

I use Blackboard and email extensively for posting announcements, worksheets and problem sets, etc.  You should check it every day while you are in this course.  You should also check your email, as I sometimes send updates directly to your email account if they are more urgent. Hamline considers your email the official channel of communication with you.

I use Blackboard Conferencing, Google+ Hangouts, and Skype for Virtual Offices. The link for Blackboard Conferencing is available in your course site. We can video conference if you want to “meet” with me virtually. Virtual meetings are by arrangement - please let me know if you want to try that.

I am a member of the Hamline University Safe Zone Network.  I am firmly committed to providing a respectful, inclusive environment and celebrating diversity (of all people) in the classroom and my office.

Time ManagementI have tried to respect your time and your need to plan your studies by designing a course schedule in advance and making deadlines as clear as possible. If you have questions or problems please let me know as soon as possible so we can keep you on track and on schedule.

Monday Wednesday Friday

September 3Introduction to the Course

September 5Introduction to Business Analytics and Model Development - Chapter 1 & Chapter 7.1

September 8Profit and Break Even Analysis

September 10 LAB

Chapter 7.2

September 12 Time Value of Money: NPV and IRR

Resources provided by instructorSeptember 15Time Value of Money continued

September 17 LAB September 19Decision Analysis and Review of Probability (Joint, Bayes’ Theorem)/Chapter 12

September 22Continue Chapter 12

September 24 LAB September 26Continue Chapter 12

September 29 Statistics Review - Chapter 2

October 1 LAB October 3Continue Chapter 2

October 6Review

October 8 LAB

EXAM

October 10EXAM

October 13Simulations - Chapter 11 and 7.3

October 15 LAB October 17Continue Chapter 11

October 20Database Management and MS Access - Appendix B

October 22 LAB October 24MID-TERM BREAK - NO CLASS TODAY

October 27Continue MS Access

October 29 LAB October 31Forecasting Methods/Chapter 5

Course ScheduleChapters refer to your text unless otherwise specified

ECON 1340 - QADM FALL 2013QMBE 1320 - QADM FALL 2014

We will do our best to stick to this schedule, but if needed will make adjustments. Keep a close eye on Blackboard!

A NOTE ON THE SCHEDULE - One of the reasons I am providing this detailed schedule with chapter assignments is so that you can READ

THE BOOK (COMMITMENT #10). I realize that quantitative methods books may not be the most fun reading for everyone, but the authors do a

good job at setting out the information step by step and you can go through at a comfortable pace, stopping to re-read and ponder any difficult points.

Reading can also help you work on your daily problems if they are assigned before class. You will grasp the material much better if you do this reading

before we discuss the topic in class. You never know - we might have a pop quiz.

AND FINALLY ...

I personally derive a great deal of FUN out of doing this “stuff.” You may or may not agree, but if you try to approach the material as a great big puzzle to be solved, and play

around with it, I believe you will enjoy it much more than if you see it as something you just have to tolerate and get through. Oh, yeah, and people will pay you to do

social media stuff for them. They’ll pay you a lot more if you know how to crunch the numbers you get from collecting all the data on that social media. I’m just saying ...

(Any typographical or other errors are solely the responsibility of Dr. McKeage and Apple’s Pages program proofreading utilities.) © 2014 by Kim McKeage

Monday Wednesday Friday

November 3Continue Chapter 5

November 5 LAB November 7Review

November 10EXAM

November 12 LAB

EXAM

November 14Forecasting with Regression - Chapter 4

November 17 Continue Chapter 4

November 19 LAB November 21Intro to Linear Programming (LP)/Chapter 7

November 24Continue Chapter 7

November 26 LAB November 28THANKSGIVING BREAK - NO CLASS

December 1Nonlinear Optimization Models & Calculus - Chapter 10

December 3 LAB December 5Data Visualization - Chapter 3

December 8Data Visualization - GapMinder and/or NetLogo

December 10 LAB December 12Review

FINAL EXAMS - TUESDAY December 16

Section 1 (MWF 10:20) is from 10:00 a.m. - 12:00 noon Section 2 (MWF 12:40) is from 2:45 - 4:45 p.m.

FINAL EXAMS - TUESDAY December 16

Section 1 (MWF 10:20) is from 10:00 a.m. - 12:00 noon Section 2 (MWF 12:40) is from 2:45 - 4:45 p.m.

FINAL EXAMS - TUESDAY December 16

Section 1 (MWF 10:20) is from 10:00 a.m. - 12:00 noon Section 2 (MWF 12:40) is from 2:45 - 4:45 p.m.

ECON 1340 - QADM FALL 2013QMBE 1320 - QADM FALL 2014