MATH 7003 Applied Business Statistics

Credit Points 10

Legacy Code 300962

Coordinator Kenan Matawie Opens in new window

Description This unit introduces the basic statistical concepts and techniques for descriptive and inferential data analysis. It will aid and improve business decision-making, especially when faced with uncertain outcomes.

School Computer, Data & Math Sciences

Student Contribution Band HECS Band 1 10cp

Check your HECS Band contribution amount via the Fees page.

Level Postgraduate Coursework Level 7 subject

Restrictions Students must be enrolled in a postgraduate program.

Assumed Knowledge

Mathematics to the HSC level.

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Organise, tabulate, present, summarise and graph data appropriately;
  2. Apply probability to solve business decision making problems;
  3. Define and distinguish between discrete and continuous probability distributions;
  4. Estimate population means and proportions using confidence intervals;
  5. Test hypotheses about population means and proportions;
  6. Understand and apply correlation and linear regression to describe and analyse relationships between variables;
  7. Use the Chi-square test for goodness of fit and test for independence to analyse categorical type data;
  8. Use the necessary computing skills required in Excel to solve and analyse statistical data.

Subject Content

Data type and collection, graphical and tabular techniques
Numerical descriptive measures, and basic Probability
Discrete and continuous probability distributions
Sampling distribution
Statistical inferences - hypothesis testing
Correlation and Linear regression analysis
Statistical inferences -estimation
Analysis of Categorical data
Index Numbers

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.

Item Length Percent Threshold Individual/Group Task
Test 1 - Class test 50 minutes 15 N Individual
Test 2 - Class test 50 minutes 15 N Individual
Take home assignment One week 20 N Individual
Final exam 2 hours 50 N Individual

Prescribed Texts

  • Selvanathan, E. A. a. (2013). Business statistics: Australia and New Zealand (6th ed.). South Melbourne, Vic.: Cengage Learning.

Teaching Periods

2022 Quarter 2

Parramatta City - Macquarie St

Evening

Subject Contact Kenan Matawie Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window

2022 Quarter 4

Parramatta City - Macquarie St

Evening

Subject Contact Kenan Matawie Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window