6 points, SCA Band 3, 0.125 EFTSL
Postgraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Faculty
Organisational Unit
Department of Econometrics and Business Statistics
Coordinator(s)
Unit guides
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: 40% + Examination: 60%
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.
See also Unit timetable information
Chief examiner(s)
Co-requisites
Students enrolled in course 3822, 4412 and 3818 cannot undertake this unit.