My favorite online teaching tool

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MY FAVORITE ONLINE TEACHING TOOL By C. Chen

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Transcript of My favorite online teaching tool

Page 1: My favorite online teaching tool

MY FAVORITE ONLINE TEACHING TOOL

By C. Chen

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Do you know how tough to teach

Managerial Economicswhich requires

Statistics & Calculus

Online?n

xxExz

xx

)( 2 3TVC aQ bQ cQ

2SMC a 2bQ 3cQ

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Student

Professor

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Student vs. ProfessorI prefer to take face to face course.

I prefer to teach face to face course.

The materials are too tough for me.

Aren’t they easy enough?

I am not good at math.

They just don’t like math.

Quantitative analysis is useless; why I need to learn it?

Quantitative analysis is useful; why they don’t study it?

Professor is really mean.

Students are really lazy.

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TitleV Online

Teaching Academy

Camtasia

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PowerPoint PresentationAudio/Video

Professional EditingPublish Online

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For example

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Managerial Economics Demand Estimation (Time Series) A linear trend equation for sales of the form

Qt = a + btwas estimated for the period 1996– 2010 ( i. e., t =1 for 1996, t = 2 for 1997, . . . ). The results of the regression are as follows:DEPENDENT VARIABLE: QT R- SQUARE F- RATIO P- VALUE ON F

OBSERVATIONS: 15 0.6602 25.262 0.0002

 

PARAMETER STANDARD

VARIABLE ESTIMATE ERROR T- RATIO P- VALUE

INTERCEPT 73.71460 34.08 2.16 0.0498

t 3.7621 0.7490 5.02 0.0002

 

a. Evaluate the statistical significance of the estimated coefficients. (Use 5 percent for the significance level.) Does this estimation indicate a significant trend? b. Using this equation, forecast sales in 2011 and 2020.

 

Dr. C. Chen

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A linear trend equation for sales of the form

Qt = a + btwas estimated for the period 1996– 2010 ( i. e., t =1 for1996, t = 2 for1997, . . .). The results of the regression are as follows:DEPENDENT VARIABLE: QT R- SQUARE F- RATIO P- VALUE ON F

OBSERVATIONS: 15 0.6602 25.262 0.0002

 

PARAMETER STANDARD

VARIABLE ESTIMATE ERROR T- RATIO P- VALUE

INTERCEPT 73.71460 34.08 2.16 0.0498

t 3.7621 0.7490 5.02 0.0002

 

a. Evaluate the statistical significance of the estimated coefficients. (Use 5 percent for the significance level.) Does this estimation indicate a significant trend? The p-value of t-test is 0.0002<0.05. The trend significance is confirmed. The p-value of F-test is also less than 0.05, we can apply the model for future period prediction. b. Using this equation, forecast sales in 2011 and 2020.

Year 2011 (t =16), Q = 73.7146 + 3.7621(16) = 133.9082Year 2020 (t =25), Q = 73.7146 + 3.7621(25) = 167.7671

 

Dr. C. Chen

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Or

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Excel’s Regression Tool

Excel Value WorksheetA B C D E F G H I

1 Week TV Ads Cars Sold2 1 1 143 2 3 244 3 2 185 4 1 176 5 3 2778 SUMMARY OUTPUT9

10 Regression Statistics11 Multiple R 0.93658581212 R Square 0.87719298213 Adjusted R Square 0.8362573114 Standard Error 2.16024689915 Observations 51617 ANOVA18 df SS MS F Significance F19 Regression 1 100 100 21.42857 0.01898623120 Residual 3 14 4.66666721 Total 4 1142223 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%24 Intercept 10 2.366431913 4.225771 0.024236 2.468950436 17.53104956 2.468950436 17.5310495625 TV Ads 5 1.08012345 4.6291 0.018986 1.562561893 8.437438107 1.562561893 8.43743810726

ANOVA Output

Regression Statistics Output

Data

Estimated Regression Equation Output

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“I am not afraid of taking online quantitative courses anymore. The videos with professor’s explanation allow me to study the advanced calculation in detail. It is just like face-to-face…no, it is even better! I can view it again and again!