Postgraduate - UnitETF5900 - Business statistics

This unit entry is for students who completed this unit in 2015 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 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Level	Postgraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Caulfield First semester 2015 (Day) Caulfield Second semester 2015 (Day)
Coordinator(s)	Mrs Charanjit Kaur

Synopsis

Students will learn to use basic statistical techniques and apply them 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 unit covers descriptive statistics for revealing the information contained in data; probability as a tool for dealing with uncertainty; probability distributions to model business behaviour; confidence interval estimation and hypothesis testing techniques for single populations; analysis of relationships between variables using simple linear regression; and simple tools for forecasting time series data. Applications to critical analysis of business and economic data will be emphasised. Excel software will be used.

Outcomes

The learning goals associated with this unit are to:

interpret business data using descriptive statistics techniques, including the use of Excel spreadsheet functions
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 populations
interpret and evaluate relationships between variables for business decision-making, using the concept of correlation and simple linear regression
apply suitable statistical techniques for describing and forecasting time series data
develop the skills for critical analysis of statistical reporting and inference.

Assessment

Within semester assessment: 30%
Examination: 70%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Chief examiner(s)

Mrs Charanjit Kaur

Co-requisites

Students enrolled in course 3822, 4412 and 3818 cannot undertake this unit.

Prohibitions

AFX9510, ETC1000, ETG1102, ETW1000, ETW1102, ETX1100 and ETC9000.