STAT11-111: Business Statistics

Description

This subject introduces students to fundamental quantitative theory and tools to support business intelligence and data analysis needs of modern organisations. This Includes basic statistics, probability distributions, correlation, regression, and time series forecasting. The emphasis of this subject is to develop practical computational skills and problem-solving capabilities utilising appropriate analytical approaches to a given problem. The tools and techniques introduced in this subject, including the use of spreadsheets for data management and analysis, can be applied to exploratory big data analysis.

Subject details

Learning outcomes

1. Produce appropriate graphical and numerical descriptive statistics for different types of data.
2. Apply probability rules and concepts relating to discrete and continuous random variables to answer questions within a business context.
3. Demonstrate knowledge of the importance of the Central Limit Theorem (CLT) and its applications.
4. Conduct and interpret a variety of hypothesis tests to aid decision making in a business context.
5. Use simple/multiple regression models to analyse the underlying relationships between the variables through hypothesis testing.

Enrolment requirements

Subject outlines

• January 2021 [Standard - ‎]
• September 2020 [Standard - Business Statistics]
• May 2020 [Standard]
• January 2020 [Standard]
• September 2019 [Standard]
• May 2019 [Standard]
• January 2019 [Standard]
• September 2018 [Standard]
• May 2018 [Standard]
• January 2018 [Standard]
• September 2017 [Standard]
• May 2017 [Standard]

Subject dates