ETM5900 - Business statistics - Monash University

Overview

You will learn to use basic statistical techniques and apply them to problems in accounting, finance, management, marketing, and business in general. You should also be able to effectively communicate the results of your analyses. This unit covers descriptive statistics for revealing the information contained in data; probability as a tool for dealing with uncertainty; probability distributions to model business behaviour; confidence interval estimation and hypothesis testing techniques for single populations; analysis of relationships between variables using simple linear regression; and simple tools for forecasting time series data. Applications to critical analysis of business and economic data will be emphasised. Excel software will be used.

Offerings

S2-01-MALAYSIA-EVENING

Requisites

Prohibition

SCI1020

6 CP

Introduction to statistical reasoning

STA1010

6 CP

Statistical methods for science

Business and economic statistics

Introduction to statistical analysis

FIT1006

6 CP

Business information analysis

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Dr Thangarajah Thiagu

Learning outcomes

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

interpret business data using descriptive statistics techniques, including the use of Excel spreadsheet functions

apply simple concepts of probability and probability distributions to problems in business decision-making

describe the role of statistical inference and apply inference methods to single populations

interpret and evaluate relationships between variables for business decision-making, using the concept of correlation and simple linear regression

apply suitable statistical techniques for describing and forecasting time series data

develop the skills for critical analysis of statistical reporting and inference.

Teaching approach

Problem-based learning

Active learning

Case-based teaching

Assessment

1 - Within semester assessment

Scheduled and non-scheduled teaching activities

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.