ETC1000 - Business and economic statistics
6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL
Undergraduate Faculty of Business and Economics
Leader(s): Dr Phillip Edwards, Dr Neil Diamond
An introduction to descriptive statistics -- the collection, organisation, presentation and analysis of grouped and ungrouped data using measures of location and dispersion; the construction of index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiople regression, with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; concept of sampling as a way of capturing uncertainty about data; estimators and their properties; constructing and interpreting confidence intervals, testing a hypothesis, including analysis of variance.
The learning objectives of this unit are to:
- interpret business and economic data using descriptive statistics techniques
- construct and interpret index numbers
- describe the concept of a sampling distribution, estimators and their properties
- use P values to make inference on single population means for business and economic decision-making
- interpret and evaluate relationships between variables for business and economic decision-making using simple linear regression
- apply the main ideas of probability theory, discrete and continuous probability distributions to business and economic decision-making.
Within semester assessment: 30%
Examination (2 hours): 70%
Two 1-hour lectures and one 1.5 hour tutorial per week