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Course Outlines

BABI 8800

Data and Decisions

School School of Business + Media
Program Bachelor of Business Administration
Course Credits 4
Minimum Passing Grade 50%
Start Date September 07, 2021
End Date December 18, 2021
Total Hours 53
Total Weeks 15
Hours/Weeks 3.53
Delivery Type Other
Pre-requisites Acceptance into the Bachelor of Business Administration Degree program.
CRN 48472

Acknowledgement of Territories

The British Columbia Institute of Technology acknowledges that our campuses are located on the unceded traditional territories of the Coast Salish Nations of Sḵwx̱wú7mesh (Squamish), səl̓ilwətaɁɬ (Tsleil-Waututh), and xwməθkwəy̓əm (Musqueam).

Instructor Details

Name Leslie Major
E-mail Instructor to provide
Location Leslie_Major@bcit.ca
Office Hours Instructor to provide

Course Description

This course emphasizes analytical techniques and concepts that results in broadly applicable solutions to business problems. The course introduces decision making under uncertainty from a computational perspective and provides an overview of the necessary tools for building autonomous and decision-support systems. Following an introduction to probabilistic models and decision theory, we will cover computational methods for solving decision problems with model uncertainty and imperfect state information. Students will develop data-driven predictive models when faced with uncertainty in business. Presents an advanced course in the application of statistical methods to business problems. Statistics provide techniques for interpreting data, permitting managers to use information to answer larger questions. We will be focusing on topics such as Regression, Time Series Analysis, and Forecasting. Extensive lab work using computer software will lead to theoretical solutions. Students will interpret and apply these solutions as a guide to practical management action.

Learning Resources

  • Statistics for Managers Using Microsoft Excel: Levine, Stephan & Szabat. 8th Edition.
  • Students are required to use a Microsoft excel, the Data Analysis Toolpak and either StatCrunch (through MyStatLab) or PhStat.
  • Students are required to use a MyMathLab (through Pearson) to complete their homework.

Evaluation Criteria

Criteria % Comments
Weekly Learning Hub Quizzes 10Weekly learning hub quizzes
MyStatLab Homework20Weekly assignments in MyStatLab
Monte Carlo & Holt/Holt Winter's Quizzes5%Learning Hub quizzes from Weeks 6 & 12
Section Quizzes25%End-of-section quizzes (5 quizzes) - see calendar
Final Exam40%Final Exam covering all topics

Attendance Requirements

Regular presence and participation in on-line courses is seen as integral to student success and is therefore monitored. Unexcused non-participation via prescribed forms of electronic communication cannot exceed 10% of the time prescribed for the course. A student who fails to participate regularly as required by the course will be considered to have unexcused absences. Unexcused absences in excess of 10% of the time prescribed for this course may result in the assignment of a failing grade.

Course Schedule and Assignments

Topic

Reference

Week 1

Descriptive Stats Review

Chapter 3

Week 2

Probability Rules Review & Bayes’ Rule & Normal Distributions

Chapter 4 & 6

Quiz 1

End-of-Section Quiz (Probabilities, Bayes & Normal)

Week 3

Week 4

Decision Analysis - Maximax, Maximin, Regret, EMV,

Decision Analysis with forecasting & Bayes, Decision Trees + Multistage decision trees

Chapter 19 (online only)

Chapter 19

Quiz 2

End-of-Section Quiz (Decision Analysis)

Week 5

Week 6

Time series forecasting - Moving averages (centered, regular, weighted), Simple Exponential Smoothing & Holt's Methods

More Methods on Time Series Seasonal Data (Multiple regression with dummies & Holt Winter's Method)

Chapter 16 & Learning Hub Resources (you can reference Chapters 13, 14 &16 for regression & dummy variable explanations)

Quiz 3

End-of-Section Quiz (Time Series Forecasting)

Week 7

How to transform non-linear/categorical data & run a regression. How to generate forecasts on this transformed data. Methods: the quadratic, exponential and multiplicative seasonal methods on time series data & logistic regression

Chapter 16

Week 8

Linear regression - testing the validity of the model. The 4 assumptions of regression. Residual testing. The anova output

Chapter 13 & 14

Quiz 4

End-of-Section Quiz (Week 7 & 8 Regression)

Week 9

Week 10&11

More on regression: t-tests, F-tests, confidence intervals & further regression assumption testing.

Adding interaction variables, partial F-tests, dummy variable analysis

Chapter 13 & 14

Chapter 13 & 14

Week 12

Model Building for Multiple Regression

Chapter 15

Quiz 5

End-of-Section Quiz (Multiple Regression)

Week 13

Monte Carlo Simulations - Revenue Management

Learning Hub

Week 14

Review & Catchup

N/A

Week 15

FINAL EXAMINATION (worth 40%)

All sections

BCIT Policy

Any student who needs special assistance in the event of a medical emergency or building evacuation (either because of a disability or for any other reason) should promptly inform their course instructor(s) and Accessibility Services of their personal circumstances.

Human Rights, Harassment and Discrimination:
The BCIT community is made up of individuals from every ability, background, experience and identity, each contributing uniquely to the richness and diversity of the BCIT community as a whole. In recognition of this, and the intrinsic value of our diversity, BCIT seeks to foster a climate of collaboration, understanding and mutual respect between all members of the community and ensure an inclusive accessible working and learning environment where everyone can succeed.

Respect, Diversity, and Inclusion is a supportive resource for both students and employees of BCIT, to foster a respectful learning and working environment. Any student who feels that they are experiencing discrimination or harassment (personal or human rights-related) can confidentially access this resource for advice and support. Please see Policy 7507 – Harassment and Discrimination and accompanying procedure.

Students should make themselves aware of additional Education, Administration, Safety and other BCIT policies listed at https://www.bcit.ca/about/administration/policies.shtml

Guidelines for School of Business + Media

Attempts:
Students must successfully complete a course within a maximum of three (3) attempts at the course. Students with two attempts in a single course will be allowed to repeat the course only upon special written permission from the Associate Dean. Students who have not successfully completed a course within three attempts may not be eligible to graduate from their respective program.

Attendance:
Regular attendance in lectures and labs is seen as integral to student success, therefore, attendance in class is monitored. Unexcused absences in excess of 10% of the time prescribed for this course may result in the assignment of a failing grade. Attendance may be taken at any time during class. A student not present for attendance will be marked absent. A student who leaves class for a period of time deemed excessive by the instructor may be considered absent regardless of whether they are present when attendance is taken.

In case of illness or other unavoidable absence, students must communicate with the instructor, or the appropriate Program Head, as soon as possible (preferably in advance) indicating the reason for the absence. Students who are seeking accommodation for a medical absence must have a BCIT-approved medical certificate ). For other absences, students must be prepared to provide appropriate supporting documentation.

A student who has unexcused absences in excess of 10% of the time prescribed for the course by the Withdrawal Deadline is considered to have ‘Vanished’ and will be assigned a grade of ‘V’. In these cases, no further work will be graded.

These requirements are set out in accordance with BCIT Policy 5101 Student Regulations. More information regarding withdrawals from PTS courses is available at https://www.bcit.ca/pts/pts_withdrawals.shtml.

Approved

I verify that the content of this course outline is current.
Leslie Major, Program Head
September 10, 2021

I verify that this course outline has been reviewed.
Thomas Turniawan, Program Assistant
September 10, 2021

I verify that this course outline has been reviewed.
Denise Calvert, Part Time Studies Coordinator
September 10, 2021

I verify that this course outline has been reviewed.
Steve Yallouz, Program Head
September 13, 2021

I verify that this course outline has been reviewed and complies with BCIT policy.
Kevin Wainwright, Interim Dean
September 13, 2021

Note: Should changes be required to the content of this course outline, students will be given reasonable notice.