Santhosh: Hello, my name is Dr. Santhosh Abraham and I am a Faculty Program Director in the School of Business and Technology at Excelsior College. I supervise all business courses in Accounting, Finance, Economics and Quantitative Methods. The purpose of this video is to give you a general overview of the purpose of the BUS 503 Quantitative Methods course in the Excelsior MBA program and how you can be a successful student in this course. I am joined by Dr. Patrick Jones, Excelsior’s Vice Provost and also one of our instructors in this course. Dr. Jones, thank you for joining us.
Patrick: Hello, Dr. Abraham, it is my pleasure to take part in this discussion and thank you for asking me to participate in it.”
Santhosh: Can you please explain how the quantitative methods course will help students develop skills in the area of business decision making?”
Patrick: The Quantitative Methods course teaches students to apply the scientific method to business problems and derive solutions based on statistical procedures. The course provides students with analytical techniques appropriate for business issues in the areas of sales, marketing, finance and other business disciplines. It also shows students how to use statistical principles such as probability theory and statistical significance to make judgments about the validity of business research hypotheses and business techniques.”
Santhosh: Dr. Jones, what do students need to do in order to be successful in this course?”
Patrick: The course consists of relevant readings and learning resources about business research methods and statistics for business and economics. Student performance in the course is based on discussion assignments, formative and summative assignments administered in a learning tool called My StatLab and a three-part project which requires students to design and administer a survey and analyze the results to address a research question and hypothesis of their choosing.”
To succeed in this course, it is essential that students keep pace with the weekly readings and assignments, because course content is presented in such a way that subsequent course modules build upon learning outcomes and objectives in previous modules. Student success is also contingent on taking advantage of the learning resources and support services available, including contacting the instructor when questions arise about course concepts and assignments. As a course instructor, my primary role is to work with students to ensure that they learn and achieve at optimal levels. I welcome student questions and requests for assistance and encourage students to reach out to their instructors as needed to promote student learning and success.
Santhosh: Students sometimes say “I don’t view myself as being skilled in math.” Can I still be successful in this course?
Patrick: Yes, students of varying levels of math skill can and do succeed in this course. However, it is important that students make an earnest effort to understand the formulae and principles which underlie the discipline of business statistics. Also, students must expect to expend the amount of study time needed to master the material.
The Quantitative Methods course contains a number of technology tools which reduce the computational burden on students. StatCrunch which is a powerful technology tool available in My StatLab can be used for all formative and summative My StatLab assignments, and each StatCrunch procedure is illustrated through the use of videos. As an instructor, I assist students to use StatCrunch as needed to complete homework and quizzes. Some students also use Excel to solve Quantitative Methods course problems.
Students who are not comfortable with basic mathematical operations may find it more appropriate to take the 15-week version of the course instead of the 8-week version to allow for more time to master the use of the StatCrunch technology.”
Santhosh: What kind of support is available for students in the course?
Patrick: In addition to the StatCrunch videos and resources, the course offers a wide variety of helpful materials including You Tube videos and power point presentations illustrating the computations required to solve statistical problems and providing explanations for important statistical concepts. My StatLab contains a “View an example” and “Help me solve this” feature to provide students with a step-by-step guide to solving statistical computations and equations. My StatLab also provides feedback on student responses with explanations for why answers are correct or incorrect. Another useful feature of My StatLab is the availability of a personalized study plan which is created based on a student’s homework and quiz performance to enable students to gain extra practice with difficult to learn concepts.
Free tutoring is available from Smarthinking for students who need this level of support. As mentioned earlier, I also encourage students to reach out to their instructor for assistance as needed.”
Santhosh: Thank you Dr. Jones for participating in this interview. I hope this discussion helps you to be successful as a student in the Quantitative Methods course. There are a lot of resource available in Blackboard to help you with this course. If you have further questions, please feel free to contact your instructors or the advisors in School of Business and Technology.