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.
- First semester 2017 (Day)
This unit is designed to give students an introduction to statistical and quantitative methods within a business-related framework and to provide students with a sound foundation for more advanced statistical and quantitative studies. The unit will provide opportunities for the student to gain skills in the presentation of business and economic data, the use of frequency distributions, measures of central tendency and dispersion, principles of probability, use of probability distributions, sampling theory, estimation, hypothesis testing, regression analysis, the use of indices and forecasting methods.
At the completion of this unit, students should be able to:
- perform basic statistical analysis by hand, using spread sheets and statistical software;
- communicate the results of descriptive statistical analysis in written form using appropriate graphical displays where relevant;
- analyse the predictability of statistical models taking measures of uncertainty (such as standard deviation and Pearson's correlation coefficient) into account;
- critically analyse sample selection and sampling methods;
- perform hypothesis tests for the mean and proportion;
- identify sources of data such as that provided by the Australian Bureau of Statistics, as well as other public domain and private data, such as from market research and polling.
Examination (2 hours): 60%; In-semester assessment: 40%
Minimum total expected workload equals 12 hours per week comprising:
- Contact hours for on-campus students:
- Two hours lectures
- Two hours tutorials
- Additional requirements (all students):
- A minimum of 2-3 hours of personal study per one hour of lecture time in order to satisfy the reading, tute, prac and assignment expectations.
See also Unit timetable information
This unit applies to the following area(s) of study
A study score of 25 in VCE Mathematics Methods or Specialist Maths units 3 & 4 or 30 in Further Maths units 3 & 4 or MTH1010 or equivalent