STAT1520 Economic and Business Statistics

Credit
6 points
Offering
(see Timetable)

If this unit does not have an online alternative, then students who are presently unable to enter Western Australia and whose studies would be delayed by an inability to complete this unit, should contact the unit coordinator (details given on this page) to ascertain, on an individual case-by-case basis, if alternate arrangements can be made to support their study in this unit.

AvailabilityLocationMode
Semester 1UWA (Perth)Face to face Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
Semester 1UWA (Perth)Online timetabled 100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Semester 2UWA (Perth)Face to face Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
Semester 2UWA (Perth)Online timetabled 100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Semester 1AlbanyFace to face Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
Details for undergraduate courses
  • Level 1 core unit in the Professional Economics major sequence
  • Level 1 elective
Content
This unit covers basic statistics and is compulsory for 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) explain the basic probability concepts in modelling real-life situations in business and other applied disciplines; (2) identify 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
Indicative assessments in this unit are as follows: (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:
ATAR Mathematics Applications or MATH1720 Mathematics Fundamentals orECON1111 Quantitative Methods for Business and Economics or MATH0038 Mathematical Analysis or equivalent or higher
Incompatibility:
STAT1400 Statistics for Science (ID 388)
Contact hours
lectures: 2 hours per week; practical classes/labs: 2 hours per week; problem-solving sessions: 1 hour per week
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.