QDM_SubjectOutline

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University of Wales The Turning Point

MC3 Quantitative Decision Making

Subject OutlineThe Turning PointFebruary 2008

Credit Points: 10

Lecturer: Leonard YangEmail: [email protected]

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Table of ContentsSection 1: General Information...........................................................................................3

1.1 Lecture Time & Location......................................................................................31.2 Brief Outline.......................................................................................................31.3 Aims...................................................................................................................41.4 Learning Outcomes.............................................................................................41.5 Attendance.........................................................................................................41.6 Required Texts & Readings..................................................................................51.7 Supplementary Reading.......................................................................................5

Recommended Journals...................................................................................................................51.8 Course Schedule.................................................................................................61.9 Web References..................................................................................................71.10 Policies on Educational Issues and Student matters.............................................7

1.11 Assessments.....................................................................................................71.12 Submission Dates..............................................................................................8Section 2: Assessment.......................................................................................................9

2.1 Grades Awarded.................................................................................................92.2 Satisfactory Completion Requirements of this Subject..........................................102.3 Assessment Weight...........................................................................................102.4 Assessments.....................................................................................................10

Assignment Guidelines...................................................................................................................102.5 Examination Information....................................................................................112.6 Google Groups...................................................................................................122.7 Assignment Submission......................................................................................17

Section 3: Citation & Plagiarism........................................................................................22

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SECTION 1: G ENERAL I NFORMATION

1.1 Lecture Time & Location

This subject will be taught over 2 weekends, plus have scheduled weekend meetings to assistwith project research and discussion.

Saturday 23 rd February 2008 1400 1800 hrsSunday 24 th February 2008 0900 1800 hrsMonday 25 th February 2008 1900 2200 hrs

Friday 14 th March 2008 1900 2200 hrsSaturday 15 th March 2008 0900 1800 hrsSunday 16 th March 2008 1400 1800 hrs

Saturday 19 th April 2008 1300 1600 hrs EXAMINATION

1.2 Brief Outline

Students will be able to formulate problems in mathematical terms and apply mathematicaland statistical techniques in solving the problems. Students will be taught various statisticalreference methods, which will enable them to analyse a range of business and managementproblems with the aid to statistics. An understanding of statistical models and mathematicalmodels will allow students to appreciate how mathematical models can be used to increaseunderstanding of business and economics systems, present data and draw conclusions fromthe data they generate.

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1.3 Aims

This module aims:

Formulating problems in mathematical terms and applying mathematical and statisticaltechniques in solving the problems.

Understanding various statistical reference methods. To be able to analyse a range of business and management problems relevant to study

statistics. Apply statistical and mathematical models to actual problems. Appreciate how mathematical models can be used to increase understanding of

business and economics systems. Use graphical representation to gain greater understanding of various models. Ability to interpret data and draw conclusions from appropriate models.

1.4 Learning OutcomesOn successfully completing the subject participants should be able to:

1. Identify inferential statistics, especially those used for business purposes2. Obtain and summarise quantitative material from a range of appropriate sources3. Apply probability theory to business problems, and the techniques of statistical

inference;4. Define and describe general probability distributions, and the normal distribution in

particular, and will be able to define and compute import functions of random variables5. Form hypotheses, and make calculations and conclusions about them6. Identify, select and use a range of sources of printed, electronic, and other material

suitable for or relevant to quantitative analysis7. Work with others in the investigation and presentation of quantitative and related

organisational problems8. Produce reasoned arguments, justifying conclusions by reference to appropriate

theoretical frameworks and supporting evidence9. Explain the utility of statistics for management decision-making10.Demonstrate the ability to use statistical terminology and formulae

11.Communicate ideas and arguments in a variety of written formats12.Communicate ideas and arguments verbally through discussion with peers13.Identify, select and use a range of sources of printed, electronic, and other material as

a means to the development of arguments and evidence14.Work with others in the investigation of organisational problems relevant to

quantitative decision making

1.5 Attendance Attendance is strongly recommended in order for students to be able to satisfactorily attempt

the final examination. Students are required to sign in their attendance for every lectureattended.

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1.6 Required Texts & ReadingsQuantitative Methods for Business, 11 th Edition

Anderson, D.R., Sweeney, D.J. and Williams T.A., 2008Thomson South-Western

1.7 Supplementary Reading Sall, J., Lehman, A. and Creighton, L., JMP Start Statistics (2004) 3/E,

Duxbury Press Cryer, J.D. and Miller, R, Statistics for Business: Data Analysis and

Modeling, 2nd ed. (1994) International Thomson Publishing

Recommended Journals

Journal of Financial & Quantitative AnalysisReview of Quantitative Finance & Accounting

Applied EconomicsHarvard Business ReviewSmall Business Economics

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1.8 Course ScheduleThe following schedule covers materials to be addressed over the weekend sessions.

Students are advised that they should seek to cover as much of the material as possible prior

to attending each of the weekends.

Weekend Dates Indicative Content

1 23 rd February 2008

24 th February 2008

25th

February 2008

Receive textbook Chapter 1: Introduction to Quantitative MethodsChapter 2: Introduction to Probability

Chapter 3: Probability DistributionsChapter 4: Decision Analysis

Chapter 7: Introduction to Linear ProgrammingChapter 8: Linear Programming: Sensitivity analysis and Inter-pretation of solutionChapter 9: Linear Programming Applications

2 15 th March 2008

16 st March 2008

17 nd March 2008

Chapter 5: Utility and Game Theory

Chapter 6: ForecastingChapter 12: Project Scheduling: PERT/CPMChapter 13: Inventory models

Chapter 15: SimulationChapter 16: Markov ProcessesChapter 17: Multicriteria decisions

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1.9 Web ReferencesIt is expected that students will make good use of the online materials that arenow available from a myriad of organisations on the world-wide-web. Thefollowing are a list of predominant organisations whose web sites will provide

material most a appropriate to this module.

Http://www.wales.ac.uk/ University of Wales

http://www.economist.com/ The Economist

http://www.forbes.com/ Forbes

http://www.forbes.com/home_asia/ Forbes Asia

http://www.agsm.edu.au/~eajm/ Australian Journal of Management

http://www.spea.indiana.edu/ids/SBE.html Small Business Economics

http://www.businessweek.com/ Business Week

http://www.tandf.co.uk/journals/routledge/00036846.html

Applied Economics

http://www.hbsp.harvard.edu/hbsp/hbr/index.jsp Harvard Business Review

http://www.springer.com/business/finance/journal/11156

Review of Quantitative Finance & Accounting

http://www.jstor.org/journals/00221090.html Journal of Financial & Quantitative Analysis

1.10 Policies on Educational Issues and Student mattersPlease refer to the student handbook available from the University of WalesWebsite.

1.11 Assessments All assignments are expected to be the original work of students. Eachassignment should give details of references used and all quotations should beclearly attributed to their source. Although group preparation is encouraged itshould be noted that collusion and plagiarism will not be tolerated and will besubjected to severe penalties.

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http://www.economist.com/http://www.forbes.com/http://www.forbes.com/home_asia/http://www.economist.com/http://www.forbes.com/http://www.forbes.com/home_asia/


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1.12 Submission Dates

Assignments should be submitted to the office and not directly to the lecturer. A completed Assignment Submission Cover (see attached) should accompany each

assignment. The centre will set deadlines for submission of assignments andstudents must adhere to this deadline. Assignments received one week after thedeadline will be marked Late submission and 5% of marks apportioned to theassignment will be deducted. Assignments submitted later than a week after thedeadline will be deemed as a fail. Submission of assignments is compulsory: youcannot pass a module unless you have completed the assignments.

Submission of an assignment is considered to be final. A student is not entitledto revise an unsatisfactory assignment and may only re-submit an assignmentwhen the Examination Board gives permission to do so. The assignment mark

provides part of the composite subject mark upon which the award of MBA isbased and the submission of assignments should be treated as part of the finalassessment and as a formal process.

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SECTION 2: A SSESSMENT

2.1 Grades Awarded

The approved grades of performance and associated ranges of marks this subject is:

A Grade: To be awarded a Grade A you must provide evidence of wide reading of relevantliterature, exercising discernment in the selection of appropriate quotations and evidence tosupport your work. The use of appropriate models and concepts should be accurate anddemonstrate depth of understanding and creative application to the subject companies. Yourwork should be logical and coherent, presented in an interesting and accessible style. Bydefinition A Grade work is of an exceptional standard.

B Grade: To be awarded a Grade B you must provide evidence of wide reading of relevantliterature, selecting appropriate quotations and evidence to support your work. The use of appropriate models and concepts should be accurate and demonstrate understanding andapplication to the subject companies. Your work should be logical and presented in aninteresting and accessible style. Work in the G Grades can be generally defined as very good.

C Grade: To be awarded a Grade C you must demonstrate that you have undertaken areview of relevant literature and that you have used the information to illustrate your answer.

You should clearly demonstrate your ability to apply the key theories and concepts to thegiven circumstances. Your work should be logical, correctly referenced and convincing. Work in the C range can generally be described as average.

D Grade: To be awarded a Grade D you must demonstrate that you have undertaken areview of relevant literature. You should attempt to apply relevant models and concepts tothe given circumstances. Work in the D range is a marginal pass.

E Grade: An E Grade is a marginal fail. Your work may be similar to the description of Cgrade, but failing to meet the objectives of the assignment and not satisfying the learningoutcomes. Work not properly referenced.

F Grade: This is a clear fail. Inadequate literature review, not properly referenced. Limited

attempt to apply models and concepts to circumstances and/or inaccurate application.General failure to meet the objectives of the assignment and not satisfying the learningoutcomes. Work not properly referenced.

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2.2 Satisfactory Completion Requirements of this SubjectIn order to satisfactorily complete the requirements of this subject, the student must achievean aggregate mark of at least 50% for the subject, and achieve a mark of at least 40 % inthe final examination. Students must reasonably complete all assessment components other

than the final examination and submit by the final week of session/ intake or by the finalexamination date (whichever is earlier) in order to pass the subject. Reasonable completionof an assessment will consider instructions given to the student including; word length,demonstration of research and analysis where required, University Plagiarism Policy, andcompletion of each section/ component of the assessment. Failure to reasonably completeany assessment components to the standard specified above will result in a Fail gradeawarded for the subject. Assessment tasks submitted after the due date may be penalized.Refer to Penalties for Late Submission of Assessment policy.

2.3 Assessment Weight

Assessment Type Word Length Weighting Due Date

1. Analysis Questions andReport

3000 40% 4 th April 2008

2. Examination - 60% 19 th April 2008

2.4 AssessmentsThere are two pieces of assessment for this subject.

The assignment information is available in a separate handout.

Assignment Guidelines

Assessment of postgraduate assignments is based on postgraduate standards. This meansthat an assignment should demonstrate evidence of good understanding of what the questionasks. The structure of the answer should be relevant to the question and provide evidence of critical thinking and good use of appropriate research material. Assignments should becorrectly referenced using the Harvard System of Referencing and Citation of ElectronicSources in line with the guidelines provided in this Outline.

The assignment is a paper is to be prepared in no more than +/- 10% of the word countindicated.

Please type wherever possible, using 12 point font, Times New Roman or Arial.

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Please note: Any analysis and evaluation conducted should make appropriate use of themethodologies, concepts and frameworks studied in the module.

You are also encouraged to read other sources at your discretion.

Plagiarism will not be tolerated. Please see the guides to citation, referencing andplagiarism appended to this outline.

Students must retain a copy of all assessment work submitted. Marks will not usually bemodified or scaled. Feedback on assessment tasks will be returned to students before thefinal examination date.

Although student attendance records will be kept, attendance or class participation will not bepart of the assessment for this subject.

2.5 Examination InformationThere is an examination for this subject. It is scheduled for 19 th April, 2008.

Please follow the examination information as uploaded in your Google Group for moreinformation.

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2.6 Google Groups

Additional information is made available to students from the school and your lecturerthrough the use of Google Groups. This allows:

Files to be shared amongst everyone in the group Emails to be sent to everyone using a single email address

Please note that basic information about the requirements for citation and referencing,information about examinations and other useful documents are also placed in the group foryour access.

When you commence each subject, you will be sent an email that will allow you to access theGoogle Group for that subject. A step-by-step guide on how to access Google Groups follows.

STEP 1: Open the email(please check your spam box if you cannot see the email in your in box)

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Step 2: Sign in to the Google Group

If you are not signed in to a Google Account

Click on the 'sign in and apply for membership' as indicated above. This will allow you to signin to Google Accounts, Apply for a Google Account (if you don't already have one) and enterthe group.

If you are already signed in to a Google Account

Refer to Step 4 you should be permitted to access the account automatically. If this doesn'thappen, then please click on 'Apply for membership'.

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Step 4: Set up how you want to participate in the group.

Our suggestions are below.

You MUST specify a nickname. Your name is probably a good idea.

Please note that you must click on 'Accept invitation' to access the group.

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Step 5: Access and Explore the online area of the group

Note the areas 1, 2 and 3 above which will have information for your reference.

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2.7 Assignment Submission

You are required to submit your assignment online through the website service called Turn ItIn. Instructions are as follows.

STEP 1: You will receive an email like the one below.

Click on the link in the email: http://submit.ac.uk

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STEP 2: Enter the 'Turn It In UK' website

After you click on the link in the email, you will see the following web site (or somethingsimilar)

Click on [user login]

Use the username and password in the email to log in.

You will be prompted to change your password. Please do so and choose a password thatyou will remember. Write it down somewhere just in case.

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STEP 3: Enter the class

Click on the class name for the assessment that you are going to submit.

STEP 4: Click on the 'Paper icon' next to the name of the assignment you will besubmitting.

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STEP 5: Upload the file to the system

Fill in the fields as requested, select the file using the browse button, and click on 'SUBMIT':

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STEP 6: Verify your submission

You will see the screen below, which will have a copy of your assignment printed out. Readyour assignment AND VERIFY THAT IT IS ALL THERE. If it is OK, click on 'yes, submit'.

If there is a problem, click on 'no, go back' and upload your file again.

The file types that will be accepted are: MS Word, WordPerfect, PostScript, PDF, HTML,RTF, and plain text.

TROUBLESHOOTING TIP: If you have trouble submitting your file using Microsoft Word,then use the cut and paste method. To do this, go back to Step 5 and change the 'submit apaper by' to 'cut and paste' instead of 'file upload'.

STEP 7: Once your assignment has been submitted, your screen will show confirmation

of the submission and email you a digital receipt to confirm that your assignment has beenreceived by the system.

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SECTION 3: C ITATION & P LAGIARISM

Please see the attached guide from the University of Wales for information on how to avoid

plagiarism and reference for your assignments.

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