Monash University Handbook 2010 Undergraduate - Unit

Synopsis

Presentation and analysis of grouped and ungrouped data using tables, charts and measures of location and dispersion; standardisation techniques, including index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression; extensions to multiple regression, including nonlinear and categorical explanatory variables and time series data with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; concept of sampling as a way of capturing uncertainty about data; estimators and their properties; constructing and interpreting confidence intervals; fundamentals of hypothesis testing, testing hypotheses about the mean, difference between means and the slope, including analysis of variance.

Objectives

The learning goals associated with this unit are to:

• interpret business and economic data using tables, charts and descriptive statistics techniques, applying standardisation techniques where appropriate
• describe the concept of a sampling distribution, estimators and their properties
• make inference on single and multiple population means, difference between means and the slope for business and economic decision-making
• interpret and evaluate relationships between variables for business and economic decision-making using simple and multiple linear regression
• apply the main ideas of probability theory to business and economic decision-making.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Kathryn Cornwell

Contact hours

Three 1-hour lectures and one 1.5 hour tutorial per week

Prohibitions

ETW1000, ETW1102, ETX1100, ETX9000, FIT1006, STA1010, SCI1020