MONASH UNIVERSITY FACULTY HANDBOOKS

Business & Economics Handbook 1996

Published by Monash University
Clayton, Victoria 3168, Australia

Authorised by Academic Registrar, April 1996


ECM1031

Business and economic statistics: sequence 1

Professor Maxwell King and Dr Tim Fry

6 points + Two 1-hour lectures and one 2-hour tutorial per week + Second semester + Clayton + Pre/corequisite: ECM1020 + Prohibitions: ECM1032, MAT1062

Objectives On successful completion of this subject students will have an appreciation of the role of statistical methods in business and economics; an understanding of some of the factors that can cause sample surveys to provide misleading results; be familiar with simple applications of point and interval estimation, hypothesis testing and the simple linear regression model as statistical tools for decision making.

Synopsis An introduction to the principles and techniques of statistical inference as applied in business and economics - probability distributions; an introduction to random sampling including simple random sampling, stratified random sampling; and cluster sampling; estimators and their properties; the construction and interpretation of confidence intervals; hypothesis testing; acceptance sampling; the simple linear regression model.

Assessment Written (3 assignments [computing and report]): 30% + Examination (2 hours): 70%

Prescribed texts


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