You are viewing this page as an international student.
Change to Domestic

You are a domestic student if you are an Australian citizen, a New Zealand citizen or the holder of an Australian permanent visa.

You are an international student whether you are within or outside Australia and you do not meet the domestic student criteria.

Coronavirus (COVID-19): advice and support for the Bond community. Read more

STAT11-111: Business Statistics September 2017 [Standard]

General information

This subject will introduce students to the quantitative tools that are necessary for day-to-day business needs. The objectives of this subject are to: (a) provide a basic knowledge of the application of mathematics and statistics to business disciplines; (b) develop an ability to analyse and interpret data to provide meaningful information to assist in making management decisions; and (c) develop an ability to apply modern quantitative tools (Microsoft Excel) to data analysis in a business context. The main goal of the subject is to help students develop computational skills and problem solving capabilities using Excel as a tool for analysis and presentation of solutions to business problems. The emphasis will be placed on determining when it is appropriate to use the various techniques and how to use Excel to carry out the analysis. Interpretation of output generated by Excel is also an important objective. By the end of the subject, students should able to formulate answers to questions such as: (1) Is advertising actually helpful for increase sales of a product?; (2) How fuel efficient a certain car model is?; (3) What is effect of package design, delivery services and quality differentials on sales?; (4) A pharmaceutical company wants to know if a new drug is superior to an already existing one, or its possible side effects; (5) Is there any relationship between GPA and employment opportunities? and (6) What is the effect of a firm’s market strategy on its market share?

Details

Academic unit:Bond Business School
Subject code:STAT11-111
Subject title:Business Statistics
Subject level:Undergraduate
Semester/Year:September 2017
Credit points:10

Delivery & attendance

Timetable: https://bond.edu.au/timetable
Delivery mode:

Standard

Workload items:
  • Tutorial: x11 (Total hours: 22) - Lab Tutorial 2
  • Lecture: x12 (Total hours: 24) - Weekly Lecture
  • Personal Study Hours: x12 (Total hours: 72) - Study time & reviewing materials
Attendance and learning activities: Attendance is compulsory. Materials that are discussed in both lecture and lab session are EXAMINABLE. You run the risk of missing important material as well as crucial guidelines to work through assignment problems and exams if you do not attend. Lecture/ Lab streaming through tablet will be available in iLearn. Homework assignment questions will be assigned for each topic.There will be 3 homeworks for submission. Homework assignments must be submitted at the beginning of lab session as indicated in the course outline below. The best two will count towards your homeworks grade.Homework submissions by email will not be entertained and it will result in zero marks. Students may work on their assignment in a group but should write their assignment independently on their own words. If it is not written independently, it will be considered as plagiarism. There will be four online quizzes from Aplia website. Each quiz (multiple choice questions) will be available for a week from Aplia to complete. Quizzes must be completed by the due date as indicated in the subject outline below. The best three will count towards your online quiz grade. Additional details (login information, duration, etc.) will be available in iLearn prior to quiz.

Resources

Prescribed resources:
  • Selvanathan et.al. (2017). Business Statistics - Abridged. 7th, Cengage Learning
After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.
[email protected] & Email:[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.

To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au

Enrolment requirements

Requisites: ?

Nil

Restrictions: ?

Nil

Assurance of learning

Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.

At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.

Program Learning Outcomes (PLOs)

Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:
  1. Identifying and interpreting business-related problems. Converting those identified requirements to a quantitative styled model.
  2. Understanding and appreciating the need to solve a variety of business-related problems using a systematic approach involving accepted statistical techniques.
  3. Interpreting solutions in the context of the problem.
  4. Communicating the results of an accepted analysis process clearly and precisely in written format.
  5. Utilising tools such as calculators/computers to help solve a range of business questions. This would be developed by firstly identifying the relevant underlying theory.

Assessment

Assessment details

TypeTask%Timing*Outcomes assessed
Written Report Homeworks X 5 25% Ongoing 1, 2, 3, 4, 5.
Paper-based Examination (Open) Mid-semester Examination - in Computer Labs 25% Mid-Semester Examination Period 1, 2, 3, 4, 5.
Paper-based Examination (Open) Final Examination - in Computer Labs 50% Final Examination Period 1, 2, 3, 4, 5.
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Assessment criteria

High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.
Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.
Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.
Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment.
Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.

Quality assurance

For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.

Study information

Submission procedures

Students must check the [email protected] subject site for detailed assessment information and submission procedures.

Policy on late submission and extensions

Due to the voluntary nature of assignments (best two out of total of three homeworks and best three out of total of four quizzes), the late submission will result in zero marks.

Policy on plagiarism

University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.

Bond University utilises Originality Reporting software to inform academic integrity.

Feedback on assessment

Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.

Disability support

If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.

Subject curriculum

Types of data and graphical representation of data (Chapters 2, 3 and 4)

1, 2, 3, 5.

Numerical descriptive measures (measures of central tendency, spread and shapes) and correlations (Chapter 5)

1, 2, 3, 4, 5.

Probability and discrete distributions, expectation and variance of discrete distributions. (chapters 6 and 7), ONLINE QUIZ1 must be completed by 11pm (Brisbane time) on date to be set

1, 2, 3, 4, 5.

Business applications of the Normal distribution. (chapter 8)

1, 2, 3, 4, 5.

Sampling distribution of the mean and proportion. (chapters 9), ONLINE QUIZ2 must be completed by 11pm (Brisbane time) on date to be set

1, 2, 3, 4, 5.

Confidence interval of the mean and proportion. The t-distribution. (chapter 10) HW1 due

1, 2, 3, 4, 5.

MIDTERM EXAM on Saturday

1, 2, 3, 4, 5.

Type I and II errors, Test statistic, rejection region, p-value. Applications. Test of mean when variance is known and unknown. Testing the population proportion. (chapter 12). ONLINE Practice QUIZ must be completed by 11pm (Brisbane time) on date to be set

1, 2, 3, 4, 5.

Two-sample tests for paired and independent samples. (chapter 13), ONLINE QUIZ3 must be completed by 11pm (Brisbane time) date to be set

1, 2, 3, 4, 5.

Scatter plots, correlation, regression with two variables. (chapter 15) HW2 due

1, 2, 3, 4, 5.

Estimation, R-square, Adjusted R-square, Overall F-test and Collinearity. (chapter 16), ONLINE QUIZ4 must be completed by 11pm (Brisbane time) date to be set

1, 2, 3, 4, 5.

Revision. HW3 due

1, 2, 3, 4, 5.
Approved on: Sep 11, 2017. Edition: 2.1
Last updated: Sep 28, 2017.