Entry requirements and weighting

Prerequisites: Nil
Corequisites: Nil
Credit Points: 15 credit points
Level: Year 1, Core

Brief description

This unit provides students with an introduction to using statistical data collection, measurement and analysis in Business. Statistical analysis is the most important tool used in decision-making in all areas of business. To make a good decision, the decision maker must carefully analyse all alternatives in light of all available information. The subject is introductory in nature, and provides materials across a broad range of statistical techniques and methods. The focus of this course is to provide students with the ability to recognise situations in which statistical analysis may be useful, and the relevant techniques and methods that apply in those situations. It covers the core concepts which underpin statistical analysis in all of the economics and commerce disciplines.

This unit will cover the following topics:

  1. charts, frequency distributions, time series.
  2. measures of central tendency
  3. measures of dispersion
  4. combinatorics
  5. probability
  6. probability distributions
  7. point and interval estimation of parameters
  8. hypothesis testing
  9. correlation, regression.
  10. use of computer programs to perform statistical calculations.

Unit Learning outcomes

  1. Recognise situations in which statistical analysis may be useful.
  2. Being able to choose a range of statistical measures and techniques that may be useful in various situations.
  3. Solving statistical problems using analytical methods manually.
  4. Solving statistical problems using computer software
  5. Interpret the results of data analysis.
  6. Reason Logically and Critically
  7. Ability to Solve problems by Organising and Analysing and Organise numerical based data.
  8. Integrate professional and ethical behaviour and ethical behaviour into the interpretation and presentation of statistical material.