Undergraduate - UnitETP1100 - Business statistics

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 2, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Peninsula First semester 2014 (Day)
Coordinator(s)	Associate Professor Xibin Zhang

Synopsis

Students will learn to use basic statistical techniques and their applications to problems in accounting, economics, finance, management, marketing and business in general. Students should also be able to effectively communicate (written and verbal) the results of their analyses. This unit covers descriptive statistics (graphical and numerical measures) 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 business decision making; simple tools for forecasting time series. Excel is used extensively.

Outcomes

The learning goals associated with this unit are to:

interpret business data using descriptive statistics techniques, to aid in the solution of business problems
apply simple concepts of probability and probability distributions to problems in business decision-making
describe the role of statistical inference and apply inference methods to single population means to aid in the solution of business problems
evaluate relationships between variables for business decision-making, using the concept of correlation and simple linear regression
apply time series techniques of forecasting to business and financial series and interpret the results to aid in the solution of business problems.