6 points, SCA Band 2, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Ms Geraldine Roberts (Caulfield)
Miss Carla Bainbridge (City)
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. Excel software will be used.
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.
Within semester assessment: 40% + Examination: 60%
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.
See also Unit timetable information