ETX5900 · Business statistics

Overview

In this unit, you will learn to apply fundamental statistical techniques to real-world problems in accounting, finance, management, marketing, and broader business contexts. You will also develop the ability to clearly and effectively communicate your analytical findings. You will use probability concepts and sampling to help you understand and quantify uncertainty in business decision-making. Key topics include descriptive statistics for uncovering insights from data; modelling business behaviour; confidence interval estimation and hypothesis testing, linear regression models for analysing relationships between variables; and basic tools for forecasting time series data. Emphasis will be on analysing business and economic data, with practical applications using advanced Excel techniques.

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. interpret business data using descriptive statistics techniques, including the use of Excel spreadsheet functions
2. apply simple concepts of probability and probability distributions to problems in business decision-making
3. describe the role of statistical inference and apply inference methods to single populations
4. interpret and evaluate relationships between variables for business decision-making, using the concept of correlation and linear regression
5. apply suitable statistical techniques for describing and forecasting time series data
6. develop the skills for critical analysis of statistical reporting and inference.

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.