Discipline: Business
MAG-Management
 Degree Credit  [X]
Non Credit  [ ]
Nondegree Credit  [ ]
Comm Service  [ ]
 

Riverside Community College District
Integrated Course Outline of Record

Business 72


COURSE DESCRIPTION
72 Quantitative Methods for Business
Same as: MAG-Management 72
 Units: 3.00
 
Prerequisite(s): None.

Advisory: BUS 20 and MAG 70
An introduction to the techniques used to analyze business decisions using facts and data. An application of statistical techniques for non-mathematicians for making effective business decisions. 54 hours lecture.
 
SHORT DESCRIPTION FOR CLASS SCHEDULE
Introduction to mathematical techniques for analyzing & improving organizational decisions. Includes computer simulations & analytical statistics for non-mathematicians.
 
ADVISORY ENTRY SKILLS
Before entering the course, students will be able to:
  1. Use a hand held calculator to solve business math problems requiring basic algebraic equations with one unknown.

  2. Select appropriate business formulas and solve simple equations.

  3. Assess process measurements and evaluate the effectiveness of Organization Development interventions.
STUDENT LEARNING OUTCOMES
 Upon successful completion of the course, students should be able to:

1.   Effectively analyze business performance based on measurable
      criteria.

2.   Apply probability theory to decision making criteria.

3.   Develop decision criteria using payoff tables & graphical
      techniques.

4.   Forecast business performance using computer simulations.
 
COURSE CONTENT
  TOPICS
 
  1. Introduction to the Quantitative analysis process & measurement.
  2.    Probability models & analysis.
  3.    Decision analysis
    1.    criteria for decisions
    2.    decision trees.
  4.    Risk avoidance & multiple criteria analysis.
  5.    Descriptive (enumerative) & analytical (Inferential) statistics.
    1.    Measures of dispersion
    2.    Measures of central tendency
    3.    Graphical representation
    4.    Sampling
  6.    Forecasting performance based on current performance.
    1.    Statistical Process Control
    2.    Control Charts
    3.    Continuous Process Improvement
  7.    Graphical approach to analysis & solutions.
  8.    Project Management & applications
  9.    Computer simulations.
 
METHODS OF INSTRUCTION
 Methods of instruction used to achieve student learning outcomes may include, but are not limited to:

  • Presentation of lectures and discussions on methods of analyzing business performance using measurable and quantitative methods.
  • Cooperative/collaborative learning tasks and activities such as case study analysis and exercises designed to prepare students to apply probability theory and quantitative tools to selected business decision making situations.
  • Create small group activities to develop decision criteria using payoff tables and graphical techniques, including visual display of data.
  • Develop and assign web-enhanced/online/distance learning tasks to enhance understanding and application of business forecasting and simulations in the context of business performance through discussion board postings, and other formats to allow students to express positions regarding assigned topics.
  • Instruction may take the form of online, hybrid, distance learning formats.
 
METHODS OF EVALUATION
 Students will be evaluated for progress in and/or mastery of learning outcomes by methods of evaluation which may include, but are not limited to:

  • The writing of a research paper and oral presentation of findings regarding selection of and use of appropriate quantitative methods of business performance and analysis.
  • Individual and group assignments designed to analyze organizational effectiveness and productivity through the use of probability theory and quantitative decision-making.
  • Class discussion designed to evaluate students’ understanding of the use of graphical tools.
  • Quizzes and exams to assess students’ ability to use quantitative tools for forecasting business performance based on past performance.
  • Participation in discussions as required by instructor to ensure progress in mastering the course content and critical evaluation of differing perspectives.
ASSIGNMENTS

Required Reading Assignments


Required Writing Assignments


Other Outside-of-Class Assignments
 
COURSE MATERIALS
 All materials used in this course will be periodically reviewed to ensure that they are appropriate for college level instruction. Possible texts include:

  • Lind, Douglas & William Marchal & Samuel Wathen. Basic Statistics for Business. 5th ed. McGraw Hill , 2006.
  • Anderson, David. Dennis Sweeney & Thomas Williams. Quantitative Methods for Business. 10th ed. Thompson Southwestern , 2006.
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