BUS103 Business Statistics

Unit outline

Important Update: Our aim is to provide you with an optimal learning experience, regardless of how this unit is delivered. Teaching will be delivered in line with the most current COVID Safe health guidelines.  This may include a mix of online and face-to-face.  Please check the learning management system for announcements and updates. Thank you for your flexibility and commitment to studying with Sydney Institute of Higher Education. 
Enrolment modes: Year 1, Semester 1
Credit point(s): 12.5
EFTSL value: 0.125
Prerequisite: Nil
Typical study commitment: Students will on average spend 10 hours per week over the teaching period undertaking the teaching, learning and assessment activities for this unit.
Scheduled learning activities: 4 timetabled hours per week, 6 personal study hours per week

Unit description 

This unit introduces students to the principles and practices of business statistics. Students will build a comprehensive understanding of data analysis and its role in decision making, including sampling methods, descriptive techniques, and inferential approaches. Students will be familiar with financial calculations and spreadsheet commands as they make use of the computer to perform graphical presentation and statistical analysis.


Unit learning outcomes (ULO)   

  On the successful completion of this units student will be able to:
ULO1 Understand basic statistical concepts and terms, define descriptive and inferential statistics, and compare probability sampling methods.
ULO2 Describe the features of commonly-used discrete and continuous distributions and illustrate computational methods to solve related problems.
ULO3 Conduct hypothesis tests, linear regression and time series analysis and practise quantitative forecasting methods.
ULO4 Carry out statistical analysis with computational tools and interpret the results using graphical aids.
ULO5 Use business data to resolve real world business problems by using statistical techniques and calculations.

Topics to be included in the unit

1. Introduction to statistics
2. Descriptive statistics
3. Probability
4. Discrete probability distributions
5. Continuous probability distributions
6. Sampling distributions
7. Single population estimation
8. Hypothesis testing
9. Two population estimation and testing
10. Simple regression
11. Multiple regression
12. Time series analysis

Assessment

Assessment Description Grading and weighting
(% total mark for unit)
Indicative due week 
Assessment 1: Class Participation 10% 12
Assessment 2: Mid-Semester Exam  30% Mid-semester exam week 
Assessment 3: Final Exam 60% Final exam week

 

The assessment due weeks provided may change. Your lecturer will clarify the exact assessment requirements, including the due date, at the start of the teaching period.