units

ETF5900

Faculty of Business and Economics

This unit entry is for students who completed this unit in 2016 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

# ETF5900 - Business statistics

## 6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Faculty

Organisational Unit

Department of Econometrics and Business Statistics

Coordinator(s)

Offered

Caulfield

• First semester 2016 (Day)
• Second semester 2016 (Day)

### Synopsis

Students will learn to use basic statistical techniques and apply them to problems in accounting, finance, management, marketing, and business in general. Students should also be able to effectively communicate the results of their 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.

### Outcomes

The learning goals associated with this unit are to:

1. interpret business data using descriptive statistics techniques, including the use of Excel spreadsheet functions
2. apply simple concepts of probability and probability distributions to problems in business decision-making
3. describe the role of statistical inference and apply inference methods to single populations
4. interpret and evaluate relationships between variables for business decision-making, using the concept of correlation and simple linear regression
5. apply suitable statistical techniques for describing and forecasting time series data
6. develop the skills for critical analysis of statistical reporting and inference.

### Assessment

Within semester assessment: 30%
Examination: 70%

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. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.