ISOM5510 Data Analysis
Course Outline
LECTURE
Instructor: Dr. Baoqian PAN, Kris
Room: 5041 (LSK Business building); Email: ismtpbq@ust.hk
Office Hours: 1 hour after class or send an email to make an appointment.
Instructional Assistant: Elvis LEE
Room: 4065(LSK); Email: imelvis@ust.hk
Office Hours: send an email to make an appointment
Teaching Schedule: Aug 30 - Oct 18, Tuesday, 7:00 PM - 10:30 PM.
Teaching mode: Hybrid mode (face to face + ZOOM)
Teaching Venue: Business School Central (map).
Final Exam: Oct 18, 7:30 PM – 9:30 PM
OBJECTIVES AND INTENDED LEARNING OUTCOMES
The objective of the course is to introduce the fundamental knowledge of data analysis
using statistical methods, including sampling schemes, statistical inference, and linear
regression. We emphasize on
1. Close connection to real life and business practice,
2. Concepts and interpretation over computation practice through different formats of evaluation.
3. Hands-on experiences on data collection and analysis.
The learning goals of the course are to familiarize the students with
1. Quantitative Analysis Skill for Decision-making
– Students are able to use a systemic and quantitative approach in analyzing
business information for making effective business decisions.
2. Critical and Integrative Thinking
– Students are reflective problem solvers, they are able to identify key issues
in a business setting, and to formulate and apply innovative solutions.
COURSE MATERIAL
1. Lecture notes and exercise questions are downloadable from course website
(http://canvas.ust.hk).
2. Reference book: Levine, Stephan, and Szabat. “Statistics for Managers Using
Microsoft Excel”, 9th Edition.
“ Introductory Business Statistics”
(https://open.umn.edu/opentextbooks/textbooks/introductory‐business‐statistics‐2017)
(Note: The course is not based on a specific textbook. The relevant course
materials are the lecture notes.)
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3. Software: Excel.
SYLLABUS
This syllabus is subject to change in the event of extenuating circumstances.
Accelerator 1: Descriptive Statistics
- Type of data
- Graphical method
o Histogram, bar chart, pie chart, frequency polygons, scatter plot, line chart
o Pareto chart, slope graph, bubble plot, heat map, stacked/side-by-side bar
chart, scatter plot matrix, pivot chart
o Parallel coordinate plot, tree map, graphical information systems,
o Interactive graphs
- Numerical method
o Measure of central tendency (mean, median, mode),
o Measure of variation (range, interquartile range, variance, standard
deviation)
o Box plot
Accelerator 2: Basic Probability
- Basic concept
- Probability rules
- Probability trees
Accelerator 3: Decision Making Under Uncertainty
- Discrete random variable:
o Application: Equity selection, decision trees and sensitivity analysis
- Continuous random variable:
o Normal distribution
Topic 1: Introduction
- Basic concept of Statistics
- Sampling method
o SRS, systematic sampling, stratified sampling, cluster sampling,
multistage sampling
o Avoid sampling bias
- Common data problem & data cleaning
Topic 2: Normal Distribution
- Normal distribution & normal model
- Empirical rule
- Application: Calculate value at risk
Topic 3: Sampling Variation and Confidence Interval
- Sampling distribution of the mean and proportion
- CI of the mean
- CI of the proportion
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- Sample size determination
Topic 4: Hypothesis Testing
- t-test of the mean
- Z-test of the proportion
- Comparing two population means
Topic 5: Modeling for Decision Making – Correlation
- Covariance and correlation
- Testing the significance of the correlation
- Spurious relationships and notions of causality
Topic 6: Modeling for Decision Making – Simple Linear Regression
- Simple linear regression model
- Assumption and diagnosis checking
- Fitting curve to data – Logarithmic regression
Topic 7: Modeling for Decision Making – Multiple Regression
- Multiple linear regression model
- Multicollinearity
- Using dummy variable, slope dummy variable and interaction variable
EVALUATION
Your grade in the course is based on:
● In-class exercise and homework 40% ● Final Exam 60%
A. In-class exercise and homework 40%.
Note: 1) There should be 3 persons in each group. Please sign the name on the cover
page of a hard copy of the in-class exercise or homework; otherwise, you will have no
record for the in-class exercise or homework. The excuses, i.e. “forget to sign”,
“Other members submit the quiz or exercise without notice” etc. are not accepted.
2) Freeriding is not allowed. If you don’t join the discussion of the in-class exercise
or homework, other members of group have the right to submit the in-class exercise
or homework without your permission. In addition, if you have little contribution to
the discussion (e.g. Show up without preparation), your groupmates can send an
email to notify me and my TA.
3) For in-class exercise, you need to submit it within a fixed time period (E.g. 15
minutes).
4) For assignment, you need to submit it by next Monday 11:59 p.m.
B. Final Exam 60% (2 hours, individual exam. Contents cover Topic 1 to Topic 7.).
Note: 1) Students who fail to attend a scheduled examination will be given zero
marks for that examination. 2) Appeals for make-up examinations on the grounds of
special circumstances, such as medical reasons with valid documentation, could be
granted in consultation with the HKUST MBA Academic Director.
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GRIEVANCE PROCEDURE
If you disagree with grades that have been assigned to your work, you have the
possibility to meet instructors within one week after the grades have been published in
the course website. Be specific about what it is that you don't agree with.
ACADEMIC INTEGRITY
Academic dishonesty includes, but is not limited to, cheating, plagiarizing, fabricating of
information facilitating acts of academic dishonesty by others, having unauthorized
possession of examinations, submitting work of other groups, or tampering with the
academic work of other groups. All exam answers must be your own, and you must not
provide any assistance to other students during exams. Current university policy on
academic dishonesty is “if a student is discovered cheating however minor the offense,
the course grade will appear on the students' record with an X, to show that the grade
resulted from cheating.” This X grade stays on the record until graduation. If the student
cheats again and “earns” another X grade, the student will be dismissed from the
university.
