# MATH 1030 Statistics for Business

Credit Points 10

Legacy Code 200032

Coordinator Neil Hopkins Opens in new window

Description Statistics for Business introduces the basic concepts and techniques of statistics that are particularly relevant to problem solving in business. It also provides a sound base for more advanced study in statistics and forecasting in subsequent sessions. Topics include: presentation of data; descriptive statistics; the role of uncertainty in business decision making; hypothesis testing; and basic forecasting.

School Computer, Data & Math Sciences

Discipline Statistics

Student Contribution Band HECS Band 1 10cp

Check your fees via the Fees page.

Equivalent Subjects MATH 1032 Statistics for Science MATH 1028 Statistical Decision Making MATH 1003 Biometry ECON 1006 Introduction to Economic Methods MATH 1012 Management Analytics MATH 1031 Statistics for Business (WSTC) MATH 1004 Biometry (WSTC) MATH 1029 Statistical Decision Making (WSTC)

Assumed Knowledge

HSC Mathematics/Mathematics Extension 1 is desirable.

## Learning Outcomes

On successful completion of this subject, students should be able to:
1. organise and summarise data numerically
2. recognize the foundation behind inferential statistics
3. identify the underlying assumptions associated with each statistical technique and interpret the results
4. formulate economic and financial hypotheses into statistically testable forms
5. manipulate, analyse and graph data using Excel
6. employ the appropriate statistical methods and techniques in given situations

## Subject Content

Data presentation and descriptive statistics
Elementary probability
Random variables and probability distributions
Normal distributions and sampling distributions
Parameter estimation and hypothesis testing - single population
Parameter estimation and hypothesis testing - two populations
Simple linear regression analysis and correlation
Analysis of categorical data

## Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Type Length Percent Threshold Individual/Group Task Mandatory
Multiple Choice 60 minutes 15 N Individual Y
Short Answer 3 hours 20 N Individual Y
Short Answer 1.5 hours (Over 5 weeks each 30 minutes) 25 N Group Y
Final Exam 90 minutes 40 Y Individual Y

### WSU Online

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Type Length Percent Threshold Individual/Group Task Mandatory
Multiple Choice 60 minutes 15 N Individual Y
Short Answer 3 hours 30 N Individual Y
Short Answer 5 hours 25 N Individual Y
Short Answer 3 hours 30 Y Individual Y

### Autumn Online

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Type Length Percent Threshold Individual/Group Task Mandatory
Multiple Choice 60 minutes 15 N Individual Y
Short Answer 3 hours 25 N Individual Y
Short Answer 5 hours 20 N Individual Y
Final Exam 3 hours 40 Y Individual Y

Prescribed Texts

• Selvanathan, E. A., Selvanathan, S., & Keller, G. (2017). Business statistics : Australia and New Zealand (7th ed.). South Melbourne, Victoria: Cengage Learning

Teaching Periods

## WSU Online TRI-1 (2024)

### Wsu Online

#### Online

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

## Autumn (2024)

### Bankstown City

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

### Campbelltown

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

### Parramatta City - Macquarie St

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

### Parramatta External

#### Online

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

## Sydney City Campus - Term 1 (2024)

### Sydney City

#### On-site

Subject Contact Antoinette Cevenini Opens in new window

View timetable Opens in new window

## Sydney City Campus - Term 2 (2024)

### Sydney City

#### On-site

Subject Contact Antoinette Cevenini Opens in new window

View timetable Opens in new window

## Spring (2024)

### Bankstown City

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

### Campbelltown

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

### Parramatta City - Macquarie St

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

## Surabaya Semester 1 (2024)

### Surabaya

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window

## WSU Online TRI-3 (2024)

### Wsu Online

#### Online

Subject Contact Rosalind Priestman Opens in new window

View timetable Opens in new window

## Sydney City Campus - Term 3 (2024)

### Sydney City

#### On-site

Subject Contact Antoinette Cevenini Opens in new window

View timetable Opens in new window

## Summer (2024)

### Parramatta City - Macquarie St

#### On-site

Subject Contact Neil Hopkins Opens in new window

View timetable Opens in new window