ETC9000 - Business and economic statistics

Leader: Dr Phillip Edwards, Dr Neil Diamond

Offered

Clayton First semester 2007 (Day)
Clayton Second semester 2007 (Day)

Synopsis

As for ETC1000

Objectives

The learning goals associated with this unit are to:

• interpret business and economic data using descriptive statistics techniques for grouped and ungrouped data, including graphical presentations and measures of location and dispersion
• construct and interpret index numbers with application to share price indices and deflation using the Consumer Price Index
• describe the concept of a sampling distribution, estimators and their properties as a foundation for statistical inference, and use p-values to make inference on single population means for business and economic decision-making
• interpret and evaluate relationships between variables for business and economic decision-making using simple linear regression, including inference, confidence intervals and prediction
• apply the main ideas of probability theory, discrete and continuous probability distributions to account for uncertainty in data used for business and economic decision-making.

Assessment

Written (3 assignments - computing and report): 30%
Examination (2 hours): 70%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

enrolment in Graduate Diploma in Economic Studies