UWA Handbook 2017

Unit details

STAT1520 Economic and Business Statistics

Credit 6 points
  Offering
(see Timetable)
AvailabilityLocationMode
Semester 1UWA (Perth)Face to face
Semester 2UWA (Perth)Face to face
Details for undergraduate courses
  • Level 1 option in the Quantitative Methods major sequence
  • Level 1 complementary unit in the Accounting; Economics; Marketing; Professional Economics; Finance; Management; Human Resource Management; Business Law major sequences
  • Category A broadening unit for Bachelor of Arts and Bachelor of Design students
  • Category A broadening unit for Bachelor of Commerce and Bachelor of Science students where relevant according to the broadening requirements for each student
  • Level 1 elective
Content This unit covers basic statistics and is compulsory for all Bachelor of Economics and Bachelor of Commerce students. Topics include displaying and summarising data; random variables and their distributions; normal and binomial distributions; sampling distributions and hypothesis testing; confidence intervals; t-tests and F-tests; regression and correlation; goodness of fit; chi-square tests; and introduction to analysis of variance. Use of statistical packages is an integral part of the unit and emphasis is placed on examples of particular relevance to economics and commerce students.
Outcomes Students are able to (1) understand the basic probability concepts in modelling real-life situations in business and other applied disciplines; (2) understand independent events, and use conditional probability calculations and Bayes' theorem; (3) perform modelling using various distributions and calculate related probabilities, expected values, covariance and correlation; (4) demonstrate practical expertise associated with the use of a statistical package such as the Data Analysis Tool in Excel in performing basic statistical procedures; (5) distinguish between the different types of statistical tests that may be used to analyse data in different disciplines and understand subject-related practices of tests; (6) analyse relationships between variables using linear regression, and apply decision-making processes on the means for more than two populations based on ANOVA techniques; and (7) work effectively in both an independent and team situation, and complete required work and project reports by meeting deadlines.
Assessment Typically this unit is assessed in the following ways: (1) weekly tutorial assignments; (2) short tests; and (3) mid-semester and final examination. Further information is available in the unit outline.

Supplementary assessment is not available in this unit except in the case of a bachelor's pass degree student who has obtained a mark of 45 to 49 overall and is currently enrolled in this unit, and it is the only remaining unit that the student must pass in order to complete their course.
Unit Coordinator(s) Marty Firth
Unit rules
Prerequisites: Mathematics Methods ATAR or WACE Mathematics 3A/3B or MATH1720 Mathematics Fundamentals or ECON1111 Quantitative Methods for Business and Economics or MATH0038 Mathematical Analysis or equivalent or higher
Incompatibility: STAT1400 Statistics for Science; STAT1510 Statistics A; STAT1530 Statistics B; STAT2210 Biometrics 1; MATH1020 Calculus, Statistics and Probability; SCIE1104 Science, Society and Data Analysis
Contact hours lectures: 2 hours per week; tutorials/labs: 2 hours per week; problem-solving sessions: 1 hour per week
Unit OutlineSemester 1 : http://www.unitoutlines.ecm.uwa.edu.au/Units/STAT1520/SEM-1/2017
Semester 2 : http://www.unitoutlines.ecm.uwa.edu.au/Units/STAT1520/SEM-2/2017

  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
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  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.