This unit is designed to give students an introduction to statistical and quantitative methods within a business-related framework and to provide students with a sound foundation for more advanced statistical and quantitative studies. The unit will provide opportunities for the student to gain skills in the presentation of business and economic data, the use of frequency distributions, measures of central tendency and dispersion, principles of probability, use of probability distributions, sampling theory, estimation, hypothesis testing, regression analysis, the use of indices and forecasting methods.
2 hrs lectures/wk, 2 hrs laboratories/wk
Students will be expected to spend a total of 12 hours per week during semester on this unit.
For on-campus students workload commitments are:
and up to an additional eight hours private study and reading per week.
Off-campus students generally do not attend lecture and tutorial sessions, however, you should plan to spend equivalent time working through the relevant resources and participating in discussion groups each week.
BUS1100, ETC1000, ETC1010, ETC2010, ETF2211, ETW1000, ETW1010, ETW1102, ETW2111, ETX1100, ETX2111, ETX2121, MAT1097
Dr Dengsheng Zhang
Dr Dengsheng Zhang
Examination (2 hours): 60%; In-semester assessment: 40%
| Assessment Task | Value | Due Date |
|---|---|---|
| Assignment 1 | 20% | Week 6 |
| Assignment 2 | 20% | Week 12 |
| Examination 1 | 60% | To be advised |
Monash is committed to excellence in education and regularly seeks feedback from students, employers and staff. One of the key formal ways students have to provide feedback is through SETU, Student Evaluation of Teacher and Unit. The University's student evaluation policy requires that every unit is evaluated each year. Students are strongly encouraged to complete the surveys. The feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied and areas for improvement.
For more information on Monash's educational strategy, and on student evaluations, see:
http://www.monash.edu.au/about/monash-directions/directions.html
http://www.policy.monash.edu/policy-bank/academic/education/quality/student-evaluation-policy.html
Students feedback has indicated that examples from the real world provide effective motivating cases. This unit will continue to use these, and incorporate new examples where possible.
If you wish to view how previous students rated this unit, please go to
https://emuapps.monash.edu.au/unitevaluations/index.jsp
Please check with your lecturer before purchasing any Required Resources. Limited copies of prescribed texts are available for you to borrow in the library, and prescribed software is available in student labs.
Students may need to use the university laboratories to access statistical software during private study. Students will use SYSTAT and Microsoft Excel to perform computer-based statistical calculations.
Limited copies of prescribed texts are available for you to borrow in the library.
Selvanathan et al. (2011). Business Statistics (Abridged). (5th) Cengage Learning (ISBN: 9780170184816).
Calculators (including Graphing calculators) are allowed in the exam.
| Week | Activities | Assessment |
|---|---|---|
| 0 | No formal assessment or activities are undertaken in week 0 | |
| 1 | Introduction. Surveys and data collection. | |
| 2 | Graphical presentation of data. Measures of centre. Measures of dispersion. | |
| 3 | Introduction to Excel and SYSTAT. Writing a statistical report. | |
| 4 | Correlation and regression. | |
| 5 | Introduction to probability. Bayes' Theorem. | |
| 6 | Binomial and Poisson distributions. The Normal distribution. | Assignment 1 due |
| 7 | Index numbers. | |
| 8 | Introduction to estimation. | |
| 9 | Estimation. | |
| 10 | Hypothesis testing. | |
| 11 | Hypothesis testing: categorical data. Time series analysis. | |
| 12 | Time series analysis. | Assignment 2 due |
| SWOT VAC | No formal assessment is undertaken in SWOT VAC | |
| Examination period | LINK to Assessment Policy: http://policy.monash.edu.au/policy-bank/ academic/education/assessment/ assessment-in-coursework-policy.html |
*Unit Schedule details will be maintained and communicated to you via your MUSO (Blackboard or Moodle) learning system.
Faculty Policy - Unit Assessment Hurdles (http://www.infotech.monash.edu.au/resources/staff/edgov/policies/assessment-examinations/unit-assessment-hurdles.html)
Academic Integrity - Please see the Demystifying Citing and Referencing tutorial at http://lib.monash.edu/tutorials/citing/
How well underlying principles and theories are demonstrated in the student's answers.
How well underlying principles and theories are demonstrated in the student's answers.
It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/plagiarism-procedures.html) for students to submit an assignment coversheet for each assessment item. Faculty Assignment coversheets can be found at http://www.infotech.monash.edu.au/resources/student/forms/. Please check with your Lecturer on the submission method for your assignment coversheet (e.g. attach a file to the online assignment submission, hand-in a hard copy, or use an online quiz).
Submission must be made by the due date otherwise penalties will be enforced.
You must negotiate any extensions formally with your campus unit leader via the in-semester special consideration process: http://www.infotech.monash.edu.au/resources/student/equity/special-consideration.html.
Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University's academic standards, and to provide advice on how they might uphold them.
You can find Monash's Education Policies at:
http://policy.monash.edu.au/policy-bank/academic/education/index.html
Key educational policies include:
The University provides many different kinds of support services for you. Contact your tutor if you need advice and see the range of services available at www.monash.edu.au/students. For Sunway see http://www.monash.edu.my/Student-services, and for South Africa see http://www.monash.ac.za/current/
The Monash University Library provides a range of services and resources that enable you to save time and be more effective in your learning and research. Go to http://www.lib.monash.edu.au or the library tab in my.monash portal for more information. At Sunway, visit the Library and Learning Commons at http://www.lib.monash.edu.my/. At South Africa visit http://www.lib.monash.ac.za/.
Academic support services may be available for students who have a disability or medical condition. Registration with the Disability Liaison Unit is required. Further information is available as follows:
A good non-mathematical text is Statistics Without Tears, by Derek Rowntree, Penguin, Harmondsworth, 1981