Integration of 5 Core Values into FB2200 Management Sciences I

1. Integration of 5 Core Values into FB2200 Management Sciences I Department of Management Sciences Dr Stephen Leung

2. Outline Lectures 5 Core Values Lab Sessions Assignments

3. Lectures • Ethical Issues are mentioned in 4 out of 8 topics • Topic 1 Descriptive Statistics • Topic 5 Confidence Interval Estimation • Topic 6 Hypothesis Testing: One- & Two-Samples • Topic 8 Simple Linear Regression

4. Lectures • Topic 1 Descriptive Statistics • Fair (公正) • Data Analysis is Objective • Should report the summary measures that best meet the assumptions about the data set • Data Interpretation is Subjective • Should be done in a fair, neutral and clear manner • Ethical Issues • Should document both good and bad results • Should not use inappropriate summary measures to distort the facts

5. Lectures • Topic 5 Confidence Interval Estimation • Responsibility (忠誠、負責) • Confidence interval of the population mean (reflects sampling error) should always be reported along with the point estimate • It is responsible to report the level of confidence, sample size and interpretation of the confidence interval estimation

6. Lectures • Topic 6 Hypothesis Testing: One- & Two-Samples • Integrity (正直), Kindness (仁,善,慈) • Unethical Activities • Collection method is not randomized to reduce selection biases • Data snooping is used to choose between one-tail and two-tail tests, and to determine the level of significance • Data cleansingis practiced to hide observations that do not support a stated hypothesis • Fail to report pertinent findings • Treatment of human subjects are manipulated without informed consent

7. Lectures • Topic 8 Simple Linear Regression • Responsibility (負責) • Ethical Issues • Lack an awareness of the assumptions underlining least-squares regression • Don’t know how to evaluate the assumptions • Don’t know what the alternatives to least-squares regression are if a particular assumption is violated • Use a regression model without knowledge of the subject matter

8. Lab Sessions • Simple Regression Analysis with Excel • To find the relationship of box office gross and the number of home video sold in a home video company • What other factors in addition to the box office gross might affect the accuracy in predicting video unit sales?

9. Assignments • Awareness of 5 core values is assessed through 2 out of 4 assignments • 2% out of 40% in coursework mark • What are some of the ethical issues to be concerned with in performing a hypothesis test? • Suppose that the 30 scores were in fact taken from all Form 7 students in one of the several schools in the district. Explain why your confidence interval obtained from (a) cannot be trusted?

10. The End