Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
The main aim of this unit is to provide students with the theoretical and practical aspects of data analysis. Students will learn the basic concepts of statistics, understand the theory and how to make use of computer software/spreadsheet to apply those theories to real life problems encountered in businesses. The first part of this unit consists of descriptive statistics and probability. Students are taught how to analyse raw data and how to present it in a sensible way using different graphical and tabular methods. The concept of probability is introduced and its importance to decision-making is illustrated. The second part of this unit consists of statistical inference which is the process of making an estimate, forecast or decision about a population parameter, based on sample data. Finally, time series analysis is introduced and its role in forecasting is examined.
Within semester assessment: 30%
Minimum total expected workload to achieve the learning outcomes for this unit is 150 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.