GSB 420 (Applied Quantitative Analysis) is a required core course for the MBA program and some MS programs in the Kellstadt Graduate School of Business. While students cannot waive this class based on previous coursework, students who feel that they have a strong background in statistics and calculus may attempt to waive the course through completing the waiver exam.
This course will stress learning through applications/problems-solving using Excel and/or Minitab software for data analysis. However, the course must be analytical and theoretical to the extent that is necessary to develop a correct understanding of the topics presented. The topics covered in the course include relevant mathematical concepts: use of relevant functions and solving equations in unknowns, elementary calculus and graphing functions. It also focuses on relevant statistical concepts: probability theory, hypothesis testing, regression analysis and forecasting.
The GSB 420 Waiver Exam consists of 50 multiple choice questions. All questions are equally weighted. The passing grade is 70 percent. You will have three and a half hours for the exam. You may bring any books or notes you desire to the exam, and you can use a standard calculator but not a computer. Certain statistical tables like the tabulation of the standard normal random variable, t and F will be provided to you. If you decide to take the exam, you should do so before enrolling in GSB 420 because you may be responsible for GSB 420 tuition if you are enrolled in that course, even though you subsequently pass the exam. If you fail the exam, you may re-take the exam only one additional time, not sooner than seven days and not later than 30 days after the first attempt. You must take GSB 420 if you do not pass the exam after two attempts.
Contact Sharon Eul at firstname.lastname@example.org to schedule the exam.
Saturday exams from 9 a.m. to 12:30 p.m.
Evening exams from 5:30 p.m. to 9 p.m
2017 Exam Dates
- May – Tuesday, 5/2, Thursday, 5/18
- June – Monday, 6/5, Wednesday 6/21
- July – Wednesday 7/12, Monday 7/31
- August – Tuesday, 8/15, Monday, 8/28, Thursday, 8/31
- September – Saturday, 9/9, Wednesday, 9/13
- October – Wednesday, 10/4, Thursday 10/26
- November – Tuesday, 11/7, Monday, 11/20
- December – Monday, 12/4, Thursday 12/14
- Forty percent of the questions are on mathematics. This includes algebra, counting rules, interest problems, limits, differential calculus and Lagrangian problems.
- Thirty-eight percent of the exam deals with probability and statistics. This includes Bayes Theorem, the Binomial distribution, normal distribution, levels of significance, the t distribution and the F distribution.
- Twenty-two percent of the questions are on regression analysis. This includes least squares estimation, correlation, statistical testing, dummy variables and multiple regression.
Almost all introductory texts in mathematics, differential calculus, probability, statistics and regression analysis will be helpful in preparing for the GSB 420 Waiver Exam. Examples of such texts include:
- "Business Calculus Demystified" by Rhonda Huettenmueller, published McGraw Hill, 2006.
- "Business Statistics, A First Course" by David Levine, Timothy Krehbiel, and Mark Berenson, published by Pearson/Prentice Hall, Fifth Edition, 2009.
- "Essentials of Statistics for Business and Economics" by David Anderson, Dennis Sweeney and Thomas Williams, published by Thomson South-Western, 2007.
- "Probability Demystified" by Allan Bluman, published by McGraw Hill, 2005.
- "Step-by-step Business Math and Statistics" by Jin Choi, published by Pearson Custom Publishing, 3nd Edition, 2010.
Check the textbooks section and the mathematics/probability/statistics section of DePaul's bookstore for these and similar books. Also, you may want to purchase these texts and similar books online.