QM161 Business Statistics

Updated: 07 November 2018
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study
Armidale Trimester 1 Online
Armidale Trimester 1 On Campus
Armidale Trimester 3 Online
UNE Sydney Campus Trimester 1 On Campus
Intensive School(s) None
Supervised Exam There is a supervised exam at the end of the teaching period in which you are enrolled. The paper-based exam will be held at an established exam venue, and coordinated by UNE Exams Unit.
Pre-requisites None
Co-requisites None
Restrictions EMET100 or EMET101 or ENSS103 or ENSS203 or QM101 or STAT100
Notes

Study at the UNE Sydney Campus is only available to international students admitted to the Bachelor of Business under Rule (e), studying the Analytics and Informatics Major.

Combined Units None
Coordinator(s) Renato Villano (rvillan2@une.edu.au)
Unit Description

This unit is designed to develop students' abilities to assess and critically interpret statistics and business data. The unit deals with basic statistical concepts and methods used to explore and properly present information (summarisation of data); assess uncertainty in business decisions (probability, random variables and sampling distributions); perform inferential analysis (estimation and hypothesis testing); evaluate relationships between business and economic variables and obtain reliable forecasts (correlation and simple regression). This unit provides a foundation for further study in many areas including business analytics and econometrics. Computer analysis using Excel is a basic part of the unit.

Important Information

Where calculators are permitted in examinations, it must be selected from an approved list, which can be accessed from the Further Information link below.

Further information

Prescribed Material
Mandatory

Text(s):

Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next.

Statistics for Managers Using Microsoft Excel, Global Edition

ISBN: 9781292156347
Levine, D.M., Stephan, D.F. and Szabat, K.A., Pearson 8th ed. 2016

Text refers to: Trimester 1, On Campus and Online

Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Must
Complete
Title Exam Length Weight Mode No. Words
Assignment 1 10% On Campus and Online
Assessment Notes

Calculations, brief interpretations of results and use of MS Excel-based outputs. Word length not applicable owing to the statistical nature of the assignment.

Relates to Learning Outcomes (LO)

LO: 1, 3, 4, 5

Assignment 2 10% On Campus and Online
Assessment Notes

Calculations, brief interpretations of results and use of MS Excel-based outputs. Word length not applicable owing to the statistical nature of the assignment.

Relates to Learning Outcomes (LO)

LO: 1-5

Assignment 3 10% On Campus and Online
Assessment Notes

Calculations, brief interpretations of results and use of MS Excel-based outputs. Word length not applicable owing to the statistical nature of the assignment.

Relates to Learning Outcomes (LO)

LO: 2-5

Online Quizzes 10% Online
Assessment Notes

Four quizzes (2.5% each). Word length not applicable owing to the statistical nature of the assignment.

Relates to Learning Outcomes (LO)

LO: 1-5

Tutorial Assessment 10% On Campus
Assessment Notes

Four quizzes (2.5% each) Word length not applicable owing to the statistical nature of the assignment.

Relates to Learning Outcomes (LO)

LO: 1-5

Compulsory Final Examination 2 hrs 15 mins 60% On Campus and Online
Assessment Notes

Students must obtain at least 50% in the examination (and at least 50% overall) to receive a pass (or better) in the unit.

Relates to Learning Outcomes (LO)

LO: 1- 5


Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. demonstrate proficiency in the concepts of descriptive statistics and the types of data used in business and economics, summarising data in the forms of graphs, tables and numerical measures, basic probability concepts, properties of discrete and continuous probability distributions;
  2. demonstrate fundamental knowledge of the concept of sampling distribution, importance of Central Limit Theorum and fundamental knowledge of the concept of inferential statistics, and foundational knowledge in simple linear regression and apply these concepts to business-related problems;
  3. use a range of cognitive and communication skills to identify, evaluate and synthesise relevant information drawn from a range of sources in order to demonstrate judgement, creative thinking and analytical skills in solving business-related problems;
  4. work independently and/or collaboratively to plan and execute tasks to enhance professional knowledge and skills in the field of business statistics; and
  5. demonstrate the ability to recognise, reflect on, and respond appropriately to a range of ethical issues involved in statistics in influencing the practice of business.