Units / ETC2420
ETC2420 · Statistical thinking
2027 Handbook6 credit pointsLevel 2Department of Econometrics and Business Statistics
Overview
This unit presents data analysis, statistical modelling and decision-making in the presence of uncertainty, using a computational approach. You will use different frameworks of probability that are helpful for analysing real-world problems. Topics covered will include probability distributions, statistical inference (classical & Bayesian), simulation, permutation and randomisation methods, regression models, decision theory, and model assessment and diagnosis.
Offerings
| Campus | Teaching period | Mode |
|---|---|---|
| Clayton | Second semester | Teaching activities are on-campus (ON-CAMPUS) |
| Clayton | First semester | Teaching activities are on-campus (ON-CAMPUS) |
Assessment
The Handbook lists an examination for this unit.
| # | Assessment | Type | Weight | Hurdle |
|---|---|---|---|---|
| 1 | 1 - Exercise | Exercise | 20% | — |
| 2 | 2 - Quiz / Test | Quiz / Test | 20% | — |
| 3 | 3 - Project | Project | 20% | — |
| 4 | 4 - Examination | Examination | 40% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
prerequisite
OR
ETC1000Business and economic statistics6 cpOR
ETF1100Business statistics6 cpOR
ETW1001Introduction to statistical analysis6 cpOR
FIT1006Business information analysis6 cpOR
SCI1020Introduction to statistical reasoning6 cpOR
STA1010Statistical methods for science6 cpOR
ETX1100Business statistics6 cpLearning outcomes
- characterise and understand uncertainty using data
- build statistical models to support decision-making, hypothesis testing and risk assessment
- use randomisation methods in data collection and to assess causality and uncertainty
- learn about and use concepts from probability
- understand Bayesian and frequentist approaches to statistical modelling
- further develop computational skills for statistical analysis.
Workload
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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
| Activity | Duration |
|---|---|
| Seminars | 24 hours |
| Workshops | 12 hours |
| Tutorials | 12 hours |
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