Experiences with a Variety of Technologies Designed to Aid Instruction

1. Experiences with a Variety of Technologies Designed to Aid Instruction James R. Evans Operations, Business Analytics, and Information Systems Lindner College of Business

2. Online MBA Program • Business Analytics I – Data Analysis • Business Analytics II – Decision Models • Seven week courses • Typically from 70 – 140 students • Excel-based • Relatively fast-paced

3. Assignments • Excel-based homework designed for practice and reinforcement of key concepts, computations, spreadsheet modeling, and procedures • Individual projects • Data analysis: questionnaire, data collection, and analysis projects • Decision modeling: individual spreadsheet model (simulation or optimization)

4. Grading Challenges • Time – reviewing individual spreadsheets for roughly 5-7 problems/week • Student “collaboration” • Differences in approaches, particularly for spreadsheet models

5. Solution • Assignment quizzes automated on Blackboard • Based on correct or expected answers from Excel procedures or models • Random pools of questions – not everyone gets the same question • Correct answers provided after due date • Individual review of Excel worksheets for feedback and explanations for wrong answers.

6. Example: PivotTables 1. For Problem 3.33, the cross-tabulation shows how many individuals having Furniture loans with high credit risk? Answer: 43 2. For Problem 3.33, the cross-tabulation shows how many individuals having Furniture loans with low credit risk? Answer: 42 3. For Problem 3.33, the cross-tabulation shows how many individuals having Used Car loans with high credit risk? Answer: 12 4. For Problem 3.33, the cross-tabulation shows how many individuals having Used Car loans with low credit risk? Answer: 28

7. Example: Hypothesis Testing 1. For Problem 7.27, what is the value of the F statistic provided by the Excel hypothesis testing tool (to 2 decimal places)? Answer 1.28 2. For Problem 7.27, what is the p-value for the hypothesis test provided by the Excel hypothesis testing tool (to 2 decimal places)?Answer 0.19 3. For Problem 7.27, what is the value of F Critical one-tail provided by the Excel hypothesis testing tool (to 2 decimal places)?Answer 1.56

8. Example: Spreadsheet Modeling 1. What is the net present value over the three-year period in problem 11.9? Answer: 958321.57 (Blackboard precision 958321 to 958322) 2. In problem 11.9, what is the total profit that your model predicts in year 3? Answer: 372112.64 (Blackboard precision 372112 to 372113) 3. In problem 11.9, what is the total profit that your model predicts in year 2? Answer: 345920

9. Example: Spreadsheet Simulation 1. In problem 12.9, what variable has the largest influence on the distribution of profit from the sensitivity chart? Unit price Unit cost Fixed cost Demand Answer: B 2. The mean profit achieved in problem 12.9 is closest to what value? $126,000 $149,000 $183,000 $216,000 Answer: C 3. In problem 12.9 how would you characterize the distribution of profit? a symmetric distribution a distribution that is negatively skewed a distribution that is positively skewed a distribution that resembles a uniform distribution Answer: B

10. Example: Optimization 1. In the optimal solution to problem 14.5 how many pounds of Premium tea should be produced? Answer: 22500 2. In the optimal solution to problem 14.5 how many pounds of Duke Grey tea should be produced? Answer: 35000 3. In the optimal solution to problem 14.5 how many pounds of Breakfast tea should be produced? Answer: 0 “You’re finessing the issue of which variables or results in the student’s model match up with certain variables or results in the “reference model” by asking the student to do the matching and interpret the results correctly.  So the student has to understand that a certain cell in his/her worksheet corresponds to unit price, unit cost, mean profit, weekly profit, pounds of Premium tea, etc.” –Dan Fylstra, Frontline Systems

11. Example: Sensitivity Analysis 1. In problem 14.10, how much would the total amount invested (currently at $100,000) have to increase before you could no longer predict how the total net return would change without re-solving the model? Answer: 14000 2. In problem 14.10, how much would the total amount invested (currently at $100,000) have to decrease before you could no longer predict how the total net return would change without re-solving the model? Answer: 6000 3. In problem 14.10, how much would the net return for Growth & Income have to be (among the following answers) before it would be worthwhile to invest any money in this fund? $0.20 $0.09 $0.1468 We would not invest in Growth & Income no matter what the net return is. Answer: A

12. Limitations • Grading correct answers is easier than grading incorrect answers • Feedback is required for incorrect answers. • No partial credit • However, these grades are a relatively small portion of the total grade. The goal is to get students to actually do the work.

13. Other Experiences or Suggestions?