BAB310 - Quantitative Decision Making

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Last revision date May 25, 2020 1:45:44 AM
Last review date Aug 3, 2020 12:15:12 AM

Subject Title
Quantitative Decision Making

Subject Description
This course builds on ?Business Statistics? BAB210. Students will complete hypothesis tests for two populations, apply the multiple regression model, compute posterior probabilities, and use other advanced statistical techniques to make management decisions. Learners will utilize software to present and analyze data.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1.       Carry out hypothesis tests for the parameters of two populations to identify the population differences;
2.       Apply a multiple linear regression model to predict the behavior of business processes;
3.       Use software to build an ANOVA table to assess the relationship between business data;
4.       Perform a chi-square test for independence to determine whether there is an association between two variables in a contingency table;
5.       Construct the payoff and opportunity loss tables to recommend the best decision;
6.       Calculate posterior probabilities to update business expectations based on new evidence;
7.       Demonstrate the use of software to carry out hypothesis tests and multiple regressions.
8.       Evaluate statistical approaches to inform management decision making.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
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Please visit the Academic Integrity website to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

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Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.