ETF1100 - Business statistics - Monash University

Overview

This unit introduces you to the basic foundations of Business Analytics and Statistics. You will learn how to work with data, in conjunction with basic statistics and spreadsheet tools, to solve simple business problems. The unit introduces the appropriate methods to visualise and summarise data, and statistical tools to quantify uncertainty that may arise from data analysis. You will learn how to assess relationships between business variables, and learn how to build basic regression models to capture such relationships in a business context. Spreadsheet optimisation tools that assist in solving business optimisation problems will also be covered. The skills learnt from this unit assist you in developing critical thinking and analytical skills around data and decision making in business.

Offerings

S1-01-CAULFIELD-ON-CAMPUS

S2-01-CAULFIELD-ON-CAMPUS

Requisites

Prohibition

Rules

Enrolment Rule

If you are enrolled in course B2007 you cannot undertake this unit.

To be successful in this unit, background knowledge and application of maths is required at the equivalent of VCE Year 12 level. You may have satisfied this by completing relevant prerequisite unit/s, or you have covered relevant topics in your final years of secondary study. You should self-assess your maths competency prior to enrolling in this unit.

Contacts

Chief Examiner(s)

Associate Professor Ole Maneesoonthorn

Associate Professor Susan Wei

Notes

ETX1100 can be taken as an alternative to this unit.

Optional Peer Assisted Study Sessions (PASS) run in this unit.

Learning outcomes

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

classify the different data types and construct appropriate data visualisation tools for effective data presentation

analyse probability in a given business context to support decision making

apply the concept of random sampling to evaluate uncertainty in statistics and formulate hypothesis testing problems using business data for decision-making

analyse relationships between business data using appropriate visualisation and statistical tools

build the simple and multiple regression model in Excel and communicate the results in relevant business contexts, including in a team setting

solve basic business optimisation problems using Excel.

Teaching approach

Active learning

Problem-based learning

Assessment

1 - Exercise

2 - Quiz / Test

3 - Written

4 - Examination

Scheduled and non-scheduled teaching activities

Seminars

Tutorials

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. 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.

Learning resources

Technology resources

Other unit costs

Costs are indicative and subject to change.
Electronics, calculators and tools: $100