ETF1100 · Business statistics

Overview

This unit introduces you to the basic foundations of Business Analytics and Statistics. You will learn how to work with data, in conjunction with basic statistics and spreadsheet tools, to solve simple business problems. The unit introduces the appropriate methods to visualise and summarise data, and statistical tools to quantify uncertainty that may arise from data analysis. You will learn how to assess relationships between business variables, and learn how to build basic regression models to capture such relationships in a business context. Spreadsheet optimisation tools that assist in solving business optimisation problems will also be covered. The skills learnt from this unit assist you in developing critical thinking and analytical skills around data and decision making in business.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. classify the different data types and construct appropriate data visualisation tools for effective data presentation
2. analyse probability in a given business context to support decision making
3. apply the concept of random sampling to evaluate uncertainty in statistics and formulate hypothesis testing problems using business data for decision-making
4. analyse relationships between business data using appropriate visualisation and statistical tools
5. build the simple and multiple regression model in Excel and communicate the results in relevant business contexts, including in a team setting
6. solve basic business optimisation problems using Excel.

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.

Student experience, not official rules. Nothing here changes what the Handbook says.