Undergraduate - UnitETC1000 - Business and economic statistics

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

Synopsis

Presentation and analysis of grouped and ungrouped data using tables, charts and measures of location and dispersion; standardisation techniques, including index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression; extensions to multiple regression, including nonlinear and categorical explanatory variables and time series data 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; fundamentals of hypothesis testing, testing hypotheses about the mean, difference between means and the slope, including analysis of variance.

Outcomes

The learning goals associated with this unit are to:

1. interpret business and economic data using tables, charts and descriptive statistics techniques, applying standardisation techniques where appropriate
2. describe the concept of a sampling distribution, estimators and their properties
3. make inference on single and multiple population means, difference between means and the slope for business and economic decision-making
4. interpret and evaluate relationships between variables for business and economic decision-making using simple and multiple linear regression
5. apply the main ideas of probability theory to business and economic decision-making.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Kathryn Cornwell

Contact hours

3 hours per week

Prohibitions

ETG1102, ETW1000, ETW1102, ETX1100, ETX9000, FIT1006, STA1010, SCI1020