Available in 2024
Course code

STAT1060

Units

10 units

Level

1000 level

Course handbook

Description

STAT1060 is an introductory course in qualitative and quantitative methods which underpin effective business decision making. It is taught within a business context having been designed for undergraduate students in the College of Human and Social Futures. The course develops a student's ability to incorporate statistical thinking and to take account of variation in the real world during processes of establishing project initiatives, defining objectives, data collection, data presentation, data analysis, reporting and decision making.Interested in studying further statistics courses to develop your skills and improve your employability? Information about available statistics courses can be found here: https://www.newcastle.edu.au/school/mathematical-and-physical-sciences/study/statistics-courses


Availability2024 Course Timetables

Ourimbah

  • Semester 1 - 2024

Newcastle City Precinct

  • Semester 1 - 2024
  • Semester 2 - 2024

Singapore PSB

  • Trimester 2 - 2024 (Singapore)

Learning outcomes

On successful completion of the course students will be able to:

1. Describe and implement a structured approach to problem solving and decision making in business

2. Explain why data and the understanding of variation are important in making business decisions

3. Explain various qualitative techniques fundamental to the decision making process

4. Explain and apply basic statistical concepts and techniques

5. Identify and use appropriate data collection and analysis techniques

6. Identify flaws in data collection techniques and discuss approaches to reducing error

7. Interpret and present data in a form that makes information accessible for decision-makers


Content

The process of problem solving and decision making in business including:

  • Qualitative techniques for data collection and investigation;
  • Research process;
  • The concept of variation;
  • Quantitative and exploratory data techniques;
  • Presenting data;
  • Descriptive and Inferential Statistics;
  • Data types in quantitative analysis;
  • Developing hypotheses;
  • Sampling distributions;
  • Assessing risk;
  • Quantifying and incorporating variation in decision making;
  • Confidence intervals;
  • Hypothesis testing;
  • Presentation of findings;
  • Correlation and regression;
  • Time Series.

Assumed knowledge

Basic numeracy and literacy.


Assessment items

Written Assignment: Assignment 1

Written Assignment: Assignment 2

Formal Examination: Final exam

Quiz: Online Quizzes


Contact hours

Semester 1 - 2024 - Ourimbah

Computer Lab-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1
  • Compulsory Requirement: Students must attend 80% of sessions.
Lecture-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1

Semester 1 - 2024 - Newcastle City Precinct

Computer Lab-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1
  • Compulsory Requirement: Students must attend 80% of sessions.
Lecture-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1

Trimester 2 - 2024 (Singapore) - Singapore PSB

Computer Lab-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1
Lecture-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1

Semester 2 - 2024 - Newcastle City Precinct

Computer Lab-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1
  • Compulsory Requirement: Students must attend 80% of sessions.
Lecture-1
  • Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1

Course outline