Abstract

This subject provides a foundation in the basic practice of statistics, i.e. making decisions in the presence of variability. The focus is on data seen in typical business situations. The emphasis is on understanding statistical concepts and applying acquired skills to data interpretation by the use of a modern software … For more content click the Read More button below.

Syllabus

Descriptive statistics: Graphs and statistics as summaries, frequency tables, concept of population and sample, random variation, measurement levels (categorical, ordinal, interval, ratio), measures of location and dispersion, mean and median, standard deviation, range and coefficient of variation; Basic probability: Probability estimate from relative frequency and percentiles, conditional probability; Random variables: … For more content click the Read More button below.

Learning outcomes

Upon successful completion of this subject, students should:
1.
be able to explain the standard uses of Statistics in the media and in business environments, and judge whether the statistical methodology and conclusions drawn are appropriate.
2.
be able to summarise and interpret data graphically and numerically.
3.
be able to calculate and interpret probabilities, and use standard discrete and continuous probability distributions.
4.
be able to explain the concepts of statistical inference, and apply these to confidence intervals and tests of hypotheses.
5.
be able to use a statistical package to analyse data appropriately, and then interpret the output.
6.
be able to evaluate if the assumptions underlying statistical techniques are valid in a given scenario.
7.
be able to apply basic principles of survey design, such as determination of appropriate sample sizes and sampling techniques.

Enrolment restrictions

Not available to students who have completed STA109 or STA117. STA117 was identical in content to QBM117 but was taken by students in the Industrial Maths degree rather than a business degree. It has not existed for 10 years or more. STA109 had similar content to QBM117 and was taught in Bachelor of Environmental Science Management course taught out of Albury. It also no longer exists.