Management 333

MGNT 333
Business Analytics for Decision Making

1. Catalog Entry

MGNT 333
Business Analytics for Decision Making

Credit hours (3)
Prerequisite: Junior standing, STAT 200, and MATH 126 or MATH 151.

Develops skills in applying descriptive, predictive, and prescriptive statistical models to assist decision makers with solving business problems.  The course is a core requirement for all business majors.

2. Detailed Description of Course

Outline of Major Topics:
    1) Descriptive Analytics including
        a. Data visualization
        b. Descriptive Statistics
        c. Probability Distributions
        d. Statistical Inferences
    2) Predictive Analytics including
        a. Forecasting Models
        b. Regression Analysis
        c. Simulation Analysis
    3) Prescriptive Analytics including
        a. Linear Programming Models
        b. Project Management
        c. Inventory Management

3. Detailed Description of Conduct of Course

Lectures are designed to demonstrate to an audience with diverse business interests that important business problems and decisions can best be solved by methods covered in this course. The emphasis is placed on developing logical and systematic approaches in problem formulation and solution. Participation may include homework assignments, case studies, computer assignments, and periodic exams.

4. Goals and Objectives of the Course

At the conclusion of this course, student will be able to:
    1) Demonstrate the use of statistical and mathematical tools in decisions making.
    2) Recognize the types of problems and decisions that can be resolved by the
       methods learned in this course.
    3) Use computer software in the development of managerial decision support tools
    4) Exhibit writing skills needed to structure, format, and write effective business

5. Assessment Measures

Graded assignments may include solution and reporting of case analyses by students, in-class tests, a final examination, pop quizzes, homework and computer assignments as well as class participation.

6. Other Course Information

The instructor may use computer software, videotapes, and the Internet to illustrate specific concepts and to promote class discussion.

Review and Approval

October 2004
April 2009
March 2013