# Kent State University Ashtabula

\$95.00

Instructor-Led Course
Hours: 24
Duration of Access: 6 weeks
Start Dates: Sep 14, Oct 12, Nov 09, Dec 14
6,269 Students
have taken this course.

# Syllabus

A new session of each course opens each month, allowing you to enroll whenever your busy schedule permits!

How does it work? Once a session starts, two lessons will be released each week, for the six-week duration of your course. You will have access to all previously released lessons until the course ends.

Keep in mind that the interactive discussion area for each lesson automatically closes 2 weeks after each lesson is released, so you’re encouraged to complete each lesson within two weeks of its release.

The Final Exam will be released on the same day as the last lesson. Once the Final Exam has been released, you will have 2 weeks plus 10 days to complete the Final and finish any remaining lessons in your course. No further extensions can be provided beyond these 10 days.

## Week 1

### Lesson 01 - Problem Solving and Decision-Making

#### Wednesday

Decision-making is one of the most important aspects of business. So, we'll start things off by exploring a variety of analytical approaches you can use for making business decisions. We'll also look at the basic steps involved in problem solving.

### Lesson 02 - Introduction to Probability

#### Friday

This lesson will help you understand the probability of events. We'll talk about basic probability concepts and how you assign probabilities to experimental outcomes. You'll find out how to apply probability concepts to business situations.

## Week 2

### Lesson 03 - Introduction to Sampling and Surveys

#### Wednesday

In today’s lesson, we'll delve into the concepts of mean and standard deviation and how they're used in business. We'll also go over survey analysis, the various steps involved in doing a survey, and the most common errors that people make.

### Lesson 04 - Decision Analysis

#### Friday

Today's lesson is all about the use of probability in decision-making. We'll explore an analytical approach called Decision Analysis. You'll learn how to structure a problem so that when you decide how to deal with it, you know what result to expect. We'll talk about using an optimistic, conservative, and an in-between approach in making decisions. Finally, we'll examine the concept of Expected Value.

## Week 3

### Lesson 05 - Utility and Decision-Making

#### Wednesday

What if the decision you want to make isn't the most sensible one from a financial perspective? There are times when you need to base the worth of a decision on its value to you. An example of this would be deciding to buy a lottery ticket. Sometimes it's appropriate to make business decisions this way. In today's lesson, we'll talk about this approach and where the different decisions can lead.

### Lesson 06 - Forecasting

#### Friday

All businesses need to forecast sales and expenses. And the forecasts need to be accurate. In this lesson, we'll cover forecasting as it's done in business analysis. You'll learn about the two types of forecasting: qualitative and quantitative.

## Week 4

### Lesson 07 - The Modeling Process

#### Wednesday

In today's lesson, you'll discover modeling, which is the application of mathematical constructs to decision making. We'll explore simple, intermediate, and complex types of models and discuss the two approaches to model development: reductionist and holistic.

### Lesson 08 - Modeling in a Corporate Environment

#### Friday

Today is about how models are developed within a business organization. We'll talk about what needs to be done and who needs to do it in order to make the modeling effort a success. We'll explore the respective roles of the analyst (modeler) and the client for whom the model is being developed.

## Week 5

### Lesson 09 - Financial Analysis

#### Wednesday

The most widely used type of business analysis is financial analysis. This probably doesn't surprise you too much since the point of any business is to make a profit. Today, we'll look at financial analysis and how it differs from accounting. We'll discuss cost estimating, and various types of business costs. You'll get familiar with the concepts of break-even analysis and benefit/cost analysis, both of which play a vital role in business analysis.

### Lesson 10 - Project Management PERT/CPM

#### Friday

The techniques of PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) have proven to be extremely valuable to project managers. In today's lesson, I'll explain the basics of PERT/CPM and how to utilize these techniques in your work. You'll meet a simple technique called a Gantt chart, which works quite well for planning a simple project with a relatively small number of tasks.

## Week 6

### Lesson 11 - Computer Simulation and Risk Analysis

#### Wednesday

Risk is a part of any business situation, which makes it something you need to consider when you do business analysis. Simulation is an excellent method of performing risk analysis. So today we'll cover step-by-step procedures for creating and using a simulation model.

### Lesson 12 - Computer-Based Information Systems

#### Friday

In this, our final lesson, we'll look at computer-based information systems. This includes such areas as Decision Support Systems, Optimization Analysis, and Knowledge-Based Systems. You'll learn what each of these areas constitutes, and I'll show you many business applications of each.