Revolutionizing Business Statistics: A Data-Driven Approach for Success
Explore the transformation of statistics education at the University of Southern Indiana's Romain College of Business. Learn about the innovative redesign of the Econ 265 course, emphasizing statistical thinking over traditional formulas. Discover the strategic use of JMP technology to enhance student engagement and relevance in data analysis skills demanded by today's job market.
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Presentation Transcript
JMP Starting Statistical Thinking in Business Statistics Courses Mary Ann Shifflet Economics and Marketing University of Southern Indiana
Econ 265: Elementary Statistics One of the core courses in the business core Romain College of Business University of Southern Indiana Regional university High access Large volume of non-quantitative, math averse, non-motivated students
The Need For Change High DFW rate No reinforcement in the curriculum Even though it is a pre-req for many classes Job market requires data analysis skills
The Redesign A problem solving focus not here s the data what do I do with it . Minimize formulas Incorporate technology Be innovative, not just repackage same old thing Focus on statistical thinking Students should see relevance of content Heavy reliance on case studies
Deciding on Technology Needed ease of use Minimal learning curve For instructor and students Easy Access Good support Cost considerations
JMP Technology of Choice Met all of our criteria Easy to use Previous experience with JMP Easy access/no cost to students Great support materials
JMP and Statistical Thinking Based on book by Hoerl and Snee Statistical Thinking: Improving Business Performance Statistical Thinking Strategy: Existence of variation Synergy between data and subject matter Complexity of business processes Sequential nature of statistical thinking Use of JMP allows focus to be on THINKING not on calculations
JMP and Statistical Thinking 350 300 250 200 Yield 150 100 50 0 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 61 64 67 70 73 76 79 82 85 88 91 94 97 100 Day
The Results Positive feedback from students Somewhat lower DFW rates Improvement in assessment results Analytical Operations % Meeting or Exceeding Expectations n Concepts Information Interpretation Average 2008 - 2010 41 11 33 19 110 Fall 2013 80 50 60 30 40
Next Steps Development of more case studies Development of more practice exercises More motivational materials major specific Incorporate JMP in other areas of business curriculum
