ST101 Applied Quantitative Data Analysis

DESCRIPTION

This unit develops students’ capacities and capability to undertake data surveys and critically interpret statistics and related business information and apply them to enhance business outcomes. The unit focusses on developing a comprehensive understanding of the broad spectrum of analytical tools available and an appreciation of the application of statistics to business choices. Real data is utilised throughout the semester to ensure relevance to the contemporary business sector.

RELEVANT COURSES

Bachelor of Accounting*
Bachelor of Agribusiness*
Diploma of Business*
Diploma of Commerce*

*Core unit

CREDIT POINTS

10

DELIVERY MODE

On campus

PREREQUISITE OR CO-REQUISITE

Nil

UNIT LEARNING OUTCOMES

LO1 Critique the concepts of data handling and statistical analysis including relevant sampling theories

LO2 Apply the concepts of probability theory and probability distributions to the solution of real problems

LO3 Draw statistical conclusions about samples and populations based on the inferential statistical tests

LO4 Apply computer software to perform statistical calculations and decision making within a business context

LO5 Derive meaningful conclusions from detailed, statistical data analysis

CONTENT

  • Elementary statistics
  • Probability; continuous and discrete probability distributions
  • Sampling distribution
  • Estimating single population parameters
  • Estimation and hypothesis testing for two population parameters
  • Hypothesis tests and estimation for population variances
  • Analysis of variance
  • Goodness-of-fit tests and contingency analysis
  • Linear regression and correlation analysis
  • Sampling and simulation
  • Nonparametric statistics and decision analysis

ASSESSMENT METHODS

  1. Online Quizzes – 20%
  2. Statistical Applications – 30%
  3. Exam – 50%

PRESCRIBED READINGS

Nil

Check with the lecturer each semester before purchasing any textbooks