Units / ETC2420
ETC2420 · Statistical thinking
2026 Handbook6 credit pointsLevel 2Department of Econometrics and Business Statistics
Last checked: 23 Aug 2026 UTCOverview
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 - Quiz / Test | Quiz / Test | 25% | — |
| 2 | 2 - Written | Written | 25% | — |
| 3 | 3 - Examination | Examination | 50% | — |
Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.
Requisites
prerequisite
- ETB1100 — Business statistics
- ETC1000 — Business and economic statistics
- ETF1100 — Business statistics
- ETW1001 — Introduction to statistical analysis
- FIT1006 — Business information analysis
- SCI1020 — Introduction to statistical reasoning
- STA1010 — Statistical methods for science
- ETX1100 — Business statistics
Joined by OR.
Learning 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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