Quantitative Introduction to Risk and Uncertainty in Business

Instructor Information

Instructor: Professor Shun-Chen Niu
Office: SOM 3.201
Office Hours: Thursdays, 4:00-6:00 p.m.
E-mail: scniu@utdallas.edu
Phone: 972-883-2707
Home Page: http://www.utdallas.edu/~scniu/

Course Syllabus

Course Text

Statistics for Management and Economics, by Gerald Keller, 7th Edition. Duxbury (Thomson Brooks/Cole), 2005.

Course Prerequisite

MATH 5304; or consent of the instructor.

Course Teaching Assistant

Ruixia Shi
Office: SOM 3.409
Office Hours: Tuesdays, 4:00-6:00 p.m.
E-mail: rxs039200@utdallas.edu
Phone: 972-883-4808

Course Software

Microsoft Excel with Analysis Toolpak add-in. The text CD contains additional softwares, but they are not required.

Online Communications

For discussion of the homework problems, you are strongly encouraged to take advantage of the Discussion Bulletins in WebCT (https://webct.utdallas.edu/; or https://netid.utdallas.edu:4443/guam/newuser/login?login=Y if you don't yet have an account setup). Everyone is welcome to contribute answers to posted questions. The instructor will also monitor the Bulletins on a regular basis.


Midterm Exam (September 29): 50%
Final Exam (December 1): 50%

Course Material

1. What is Statistics (Chapter 1)
2. Descriptive Statistics
(a) Data Collection and Sampling (Chapter 5)
(b) Graphical and Tabular Summarization of Data (Chapters 2 and 3)
(c) Numerical Summarization of Data (Chapter 4)
3. Probability and Random Variables
(a) Basic Probability Theory (Chapter 6)
(b) Random Variables and Business Applications (Chapters 7.1-7.3 and 23)
(c) Important Probability Distributions (Chapters 7.4-7.5 and 8.1-8.3)
4. Statistical Inference
(a) Sampling Distributions and Simulation (Chapter 9)
(b) Introduction to Estimation and Hypothesis Testing (Chapters 10 and 11)
(c) Inferences about a Single Population (Chapter 12.1-12.3)
(d) Inferences about Comparing Two Populations (Chapter 13.1-13.3)
(e) Analysis of Variance (Chapter 15.1 and 15.6)
(f) Least-Squares Linear Regression (Chapters 17, 18.1-18.3, 19.1-19.3, and 19.5-19.6)
(g) Goodness-of-Fit Tests (Chapter 16.1-16.3)