ETW1000 - Business and economic statistics - 2018

An introduction to descriptive statistics -- the collection, organisation, presentation and analysis of grouped and ungrouped data using measures of location and dispersion; the construction of index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression, with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; concept of sampling as a way of capturing uncertainty about data; estimators and their properties; constructing and interpreting confidence intervals, testing a hypothesis, including analysis of variance.

The learning goals associated with this unit are to:

1. interpret business and economic data using descriptive statistics techniques
2. construct and interpret index numbers
3. describe the concept of a sampling distribution, estimators and their properties
4. use P values to make inference on single population means for business and economic decision-making
5. interpret and evaluate relationships between variables for business and economic decision-making using simple linear regression
6. apply the main ideas of probability theory, discrete and continuous probability distributions to business and economic decision-making.

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