26134 Business Statistics
UTS: Business: MarketingCredit points: 6 cp
Subject level: Undergraduate
Result Type: Grade and marksHandbook description
This subject is designed to develop students' ability to assess and critically interpret statistics and business information and apply them in changing business environments. 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. These skills and competencies provide a foundation for professional practice and for further study in the many different majors of the degree.
Subject objectives/outcomes
On successful completion of this subject students should be able to:
- develop a capability to apply standard statistical tools in various business decision contexts within a professionally responsible framework
- identify, understand and apply appropriate quantitative analytical techniques to qualify, support, select and evaluate data as information for business decision-making
- effectively interpret and communicate results of quantitative analyses for business decision-making
- effectively use a computer-based data analysis package (i.e. Excel) 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 required to prepare in advance for tutorial sessions. To facilitate this advance preparation students are afforded online support through UTSOnline.
The subject employs a mainstream 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
Assessment item 1: Assignment (Group or Individual)
| Objective(s): | 1-4 |
| Weighting: | 25% |
| Task: | 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. |
Assessment item 2: Mid-semester Exam (Individual)
| Objective(s): | 2, 3 |
| Weighting: | 25% |
| Task: | 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. |
Assessment item 3: Final Exam (Individual)
| Objective(s): | 2, 3 |
| Weighting: | 50% |
| Task: | 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.. |
Required text(s)
Black, Asafu-Adjaye, Khan, Perera, Edwards and Harris, 2007, Australasian Business Statistics, Wiley Publishing, Queensland, ISBN 0-470-80944-2
Recommended text(s)
Business Statistics (26134) — lecture material Autumn 2009 (available from University Union shops at Haymarket and Ku-ring-gai)
Middleton, M R (2004) Data Analysis using Microsoft Excel, Brooks/Cole Thomson, ISBN: 0534-40293-3. This is a helpful resource for those who have not used Excel before.
Other resources
Calculators
You will use a calculator in this subject. Students are able to use basic statistical calculators such as the Sharp EL-531WH as it has sufficient functionality. If you wish to use a different calculator to either of these please see the guide provided in the references section of UTSOnline that lists the required functions. Due to the variety of different models available, support cannot be given to all calculators (although every effort will be made to assist where possible) so it is advised that you download a copy of the users manual from the manufacturer's website and familiarise yourself with your calculator's various functions. In assessments both programmable and non-programmable calculators will be permitted.
