ETC1000 - Business and economic statistics

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Overview

Presentation and analysis of grouped and ungrouped data using tables, charts and measures of location and dispersion; standardisation techniques, including index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression; extensions to multiple regression, including nonlinear and categorical explanatory variables and time series data with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; concept of sampling as a way of capturing uncertainty about data; estimators and their properties; constructing and interpreting confidence intervals; fundamentals of hypothesis testing, testing hypotheses about the mean, difference between means and the slope, including analysis of variance.

Offerings

S1-01-CLAYTON-ON-CAMPUS

S2-01-CLAYTON-ON-CAMPUS

Requisites

Prohibition

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Professor Brett Inder

Learning outcomes

On successful completion of this unit, you should be able to:

interpret business and economic data using tables, charts and descriptive statistics techniques, applying standardisation techniques where appropriate

describe the concept of a sampling distribution, estimators and their properties

make inference on single and multiple population means, difference between means and the slope for business and economic decision-making

interpret and evaluate relationships between variables for business and economic decision-making using simple and multiple linear regression

apply the main ideas of probability theory to business and economic decision-making.

Assessment summary

Within semester assessment: 40% + Examination: 60%

This unit contains a hurdle requirement that you must achieve to be able to pass the unit. The consequence of not achieving a hurdle requirement is a fail grade (NH) and a maximum mark of 45 for the unit.

Scheduled and non-scheduled teaching activities

Tutorials

Workshops

Workload requirements

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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.