ETX1100

Business statistics

(BUS)

Mr Bruce Stephens and Mr Alan McLean

6 points + Two 1-hour lectures, one 1-hour tutorial per week + First and second semester, Caulfield + Second semester, Peninsula + Second semester, OCDL + Open Learning (BMS11)

Synopsis: Students will learn to use basic statistical techniques and their applications to problems in accounting, finance, management, marketing and business in general. Students should also be able to effectively communicate the results of their analyses. This subject covers descriptive statistics for revealing the information contained in data; probability as a tool for dealing with uncertainty and risk; probability distributions to model business behaviour; estimation and hypothesis testing techniques for decision making; simple tools for forecasting time series; and calculation and interpretation of basic price indices. Excel is used extensively.

Assessment: Assignments and tests: 30% + Final examination (3 hours): 70%