26134 Business Statistics

Subject level: Undergraduate

Handbook description

This subject is designed to provide students with an appreciation of the application of analytical tools to business decision contexts. The subject places strong emphasis on developing a clear theoretical understanding of various analytical tools. It also develops students' abilities to access and critically interpret statistics and business information.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Apply standard statistical tools in various business decision contexts within a professionally responsible framework;
2. Identify, understand and apply appropriate quantitative analytical techniques to qualify, support, select and evaluate data as information for business decision-making;
3. Effectively interpret and communicate results of quantitative analyses for business decision-making;
4. Effectively use a computer-based data analysis package to critically analyse data.

Contribution to graduate profile

This subject contributes to the Bachelor of Business learning goals in that it develops students' abilities to access and critically interpret statistics and business information. The subject places strong emphasis on developing a clear theoretical understanding of various analytical tools as well as an appreciation of the application of analytical tools to business decision contexts.

Teaching and learning strategies

A range of face-to-face and online teaching strategies will be used in the delivery of the subject. Lectures involve face-to-face content delivery and also employ a wide range of media and electronic resources to enhance appreciation of the theoretical concepts covered during the sessions.

A comprehensive tutorial program is available to students. Students are encouraged to prepare in advance for tutorial sessions. To facilitate this advance preparation students are afforded online support through UTSOnline.

The subject employs a main-stream textbook with many accompanying teaching resources. A set of animated computer tutorials facilitates self paced learning.

Content

• Decision problems contexts, Data and Statistics
• Descriptive Statistics
• Introduction to Probability
• Discrete and Continuous Probability Distributions
• Sampling and Sampling Distributions
• Interval Estimation
• Hypothesis Testing
• Comparisons Involving Means and Proportions
• Linear Regression

Assessment

The assignment requires the student to demonstrate their ability to select and apply analytical tools within a practical problem context. It assures objectives 1 and 4 in particular, but students will also demonstrate knowledge in relation to objectives 2 and 3. The assignment requires student's to access and critically analyse business data.

The mid-semester examination assures objectives 2 and 3. The examination tests the student's ability to correctly identify and use statistical tools and to interpret output within related contexts.

The final examination assures objectives 2 and 3. The examination tests the student's ability to correctly identify and use statistical tools and to interpret output within related contexts. The exam tests student's ability to be able to critically interpret statistics and business information.

The final exam assures the Bachelor of Business learning goal have well developed critical and analytical skills and be able to access and interpret statistics and business information.

Examinations will be conducted under University examination conditions, and hence thoroughly address concerns regarding secure assessment. Group assessment will be secured through a combination of continual updating of assessment tasks across semesters, peer assessment techniques and/or plagiarism detection software.

Recommended text(s)

Anderson, D. R., Sweeney, D. J. and Williams, T. A., (2004) Essentials of Modern Business Statistics with Microsoft Excel, 2e,Southwestern Publishing, ISBN: 0324-18452-2.

Indicative references

Middleton, M. R., (2004) Data Analysis using Microsoft Excel, Brooks/Cole Tompson, ISBN: 0534-40293-3.