ETC1000 - Business and economic statistics - 2019

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.

Faculty

Business and Economics

Organisational Unit

Department of Econometrics and Business Statistics

Chief examiner(s)

Professor Brett Inder

Coordinator(s)

Professor Brett Inder

Unit guides

Offered

Clayton

  • First semester 2019 (On-campus)
  • Second semester 2019 (On-campus)

Prohibitions

ETW1000, ETF1100, FIT1006, STA1010.

Synopsis

Presentation and analysis of grouped and ungrouped data using tables, charts and measures of location and dispersion; standardisation techniques, including index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression; extensions to multiple regression, including nonlinear and categorical explanatory variables and time series data 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; fundamentals of hypothesis testing, testing hypotheses about the mean, difference between means and the slope, including analysis of variance.

Outcomes

The learning goals associated with this unit are to:

  1. interpret business and economic data using tables, charts and descriptive statistics techniques, applying standardisation techniques where appropriate
  2. describe the concept of a sampling distribution, estimators and their properties
  3. make inference on single and multiple population means, difference between means and the slope for business and economic decision-making
  4. interpret and evaluate relationships between variables for business and economic decision-making using simple and multiple linear regression
  5. apply the main ideas of probability theory to business and economic decision-making.

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