IBA

Business Statistics 1.4

THE TEAM

Dr. Reinout Heijungs Course coordinator

2 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Mengheng Li, MSc Lecturer - tutorials

Agnieszka Borowska, MSc Lecturer - tutorials

Dr. Geert Jan Franx Lecturer

Mentoring

IBA ROADMAP

2014 - 2017

Smr 1.1 1.2 1.4 1.5 1.3 1.6 Smr 2.1 2.2 2.4 2.5 2.3 2.6 Smr 3.1 3.2 3.4 3.5 3.3 3.6 Smr

Exchange International context

Advanced level

2nd year 1st year 3rd year IBA Master

Introduction to disciplines

Strategy & Organisation Organization

Accounting & Control Accounting

Marketing Marketing

Integration

HRM HRM

Information & Knowledge Mgt Technology

Transport & Supply Chain Mgt Supply Chain

Management

International Context

Financial Management Finance

Finance

BSA

Course code

Introduction to core object

100 100 / 200 / 300 200 300 100 200

Elec

tives

–

Dev

elop

ed E

cono

mie

s

Elec

tives

–

Emer

ging

Eco

nom

ies

BSA

Management Consulting Strategy

Entrepeneurship

Academic core Research

Mentoring

BUSINESS STATISTICS

2014 - 2017

Smr 1.1 1.2 1.4 1.5 1.3 1.6 Smr 2.1 2.2 2.4 2.5 2.3 2.6 Smr 3.1 3.2 3.4 3.5 3.3 3.6 Smr

Exchange International context

Advanced level

2nd year 1st year 3rd year IBA Master

Introduction to disciplines

Strategy & Organisation Organization

Accounting & Control Accounting

Marketing Marketing

Integration

HRM HRM

Information & Knowledge Mgt Technology

Transport & Supply Chain Mgt Supply Chain

Management

International Context

Financial Management Finance

Finance

BSA

Course code

Introduction to core object

100 100 / 200 / 300 200 300 100 200

Elec

tives

–

Dev

elop

ed E

cono

mie

s

Elec

tives

–

Emer

ging

Eco

nom

ies

BSA

Management Consulting Strategy

Entrepeneurship

Academic core Research Research Academic core

1st year

Introduction to disciplines

100

THE IBA COMPASS

5 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Commit yourself, Connect to the community, Challenge the ordinary, Create your own path 6

BUSINESS STATISTICS

International business administration is a subject in which data is of prime interest. You can have great ideas on the impact of advertisement on sales, or of bonus wages on employer’s performance, but the ultimate test is not the theory, but always the empirical data. These data, however, are often not fully conclusive. Sales go up on some days, but they go down on other days. Other factors make that what we see is noisy. Statistics helps you to make sense out of data. Further, today’s analyses require basic skills in setting up and handling spreadsheets and visualising data. This course therefore also addresses such general skills.

LEARNING OBJECTIVES IN THIS COURSE

7 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

ACADEMIC SKILLS

RESEARCH SKILLS

QUANTITATIVE SKILLS KNOWLEDGE

BRIDGING THEORY

AND PRACTICE

SOCIAL SKILLS

BROADENING YOUR

HORIZON SELF-

AWARENESS

ACADEMIC

PROFESSIONAL

CITIZEN

LEARNING OBJECTIVES – ACADEMIC SKILLS

8 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

To excel in Analysis, Abstraction, Argumentation, and Application (the four A's)

Statistics is a subject in which the academic skill abstraction assumes a central position. The statistical way of thinking helps to make science- and evidence-based assertions about phenomena, with the aim of generalizing the observed cases to a theory of broader validity Your goal: Understanding the importance of statistics for professional business use.

LEARNING OBJECTIVES – RESEARCH SKILLS

The translation of a practical problem into a statistical problem is an important part of this course. Your goal: Translating real-world problems into the language of statistics, solving the statistical problem, back-translating the statistical solution.

9 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Understanding and being capable of performing all the elements of the research process

LEARNING OBJECTIVES – QUANTITATIVE SKILLS

We offer the student a rich variety of methods and techniques. The student must be able to not only use these, but also to choose the appropriate technique in a given situation. Your goal: Correctly applying statistical techniques and selecting a suitable technique for a specific problem.

10 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Ability to quantify, analyze, and solve a specific problem

LEARNING OBJECTIVES – KNOWLEDGE

Knowledge of statistics (“methodology”) belongs to the academic core of almost every academic discipline. In particular in subjects where impactful business decisions must be made (e.g., on investments), sound knowledge about statistics is indispensable. Further, business professionals need to be able work with digital tools for statistical analysis. Your goal: Reading and writing texts that report on or dealing with statistics.

11 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Comprehensive understanding of the fundamentals with distinctive in-depth knowledge of a particular discipline

ASSESSMENT

• Your grade for this course is calculated as follows:

In case of insufficient attendance, deduct 2 points from 𝐺.

12 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

G = �0.7 × E + 0.3 ×

T1 + T22 if E ≥ 5.0 and

T1 + T22 ≥ 5.0

min E,T1 + T2

2 otherwise

ASSESSMENT

• Calculator on BlackBoard

13 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

ASSESSMENT

14 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

Format Mimimum required % grade Resit

Digital exams 5.00 30% Consult BlackBoard

Written exam 5.00 70% Consult VUnet

Attendance tutorials >75% attendance of all tutorials and workgroups

(8 out of 10 tutorials)

− 2.00 of overall course grade in case of fail

Not applicable

Overall course grade 5.50

ATTENDANCE

Attendance is more than being present • Prepare the exercises in advance (we’ll only discuss a few) • Interact with the teacher (we’ll ask you for input) • Bring paper and pen to the tutorial sessions (we’ll ask you to hand in

something) • If you attend but do not participate, we will register “not present”

15 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

WHY STATISTICS

“Statistics is all that stuff with flipping coins. Why study it for business administration?” Statistics is much more: it is “the study of the collection, analysis, interpretation, presentation, and organization of data.” (Wikipedia) You need theory and skills for • marketing • business plans • logisitics and planning • risk calculations • etc. Two examples:

WHY STATISTICS

regression analysis −0.12 −2.11 ∗ 𝑝 < .05

WHY STATISTICS

Wilcoxon test paired samples significant

WHY STATISTICS

TEACHING FORMATS

Format: • 6 weeks of 2×2 hours of lectures • 6 weeks of 2 hours tutorials • 4 weeks of 2 hours computer tutorials • digital exams in “weeks 3 and 6” • response class in “week 7” • written exam in “week 8”

TEACHING FORMATS

After period 4: • no extra tutorials (this is not a BSA course, like Business Mathematics) • one retake option for written exam (May 2016) • one retake option for digital exam, for only a few students (June 2016) • no retake for attendance! (mind the minus 2; don’t risk it)

21 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

ESSENTIALS+OPTIONS

Essentials • BlackBoard • VUnet + VUmail • Book: (Doane & Seward, Applied Statistics in Business and

Economics, Fifth Edition (but the Fourth Edition will do as well)) Options • SPSS (at VU or http://www.surfspot.nl/; ~12 euro) • Connect (http://connect.mheducation.com/class/r-heijungs-february-

march-2016; use the access code of your book)

22 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

IT’S A SERIOUS BUSINESS

This an intensive course (6 ECTS = 168 hours): • 12 lectures = 24 hours • 10 tutorials = 20 hours • 2 digital exams = 4 hours • 1 response class = 4 hours • 1 exam = 2 hours So, work at home: 114 hours ≈ 14 hours/week = 2 hours/day • preparing lectures • doing exercises • acquiring computer skills • reading the book and extra texts • studying videos and extra resources

23 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

IT’S A SERIOUS BUSINESS

Result of the written exam in 2015 • if you don’t manage before July, all intermediate results (attendance,

digital exams, written exam) will be deleted • you are assumed to be able to do statistics in subsequent courses

(marketing, etc.)

24 Commit yourself, Connect to the community, Challenge the ordinary, Create your own path

March May

N 267 188

average 4.2 4.5

>5.0 35% 50%