Available in 2021
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 Faculty of Business & Law. 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

Availability2021 Course Timetables

Newcastle City Precinct

• Semester 2 - 2021

PSB Singapore

• Trimester 2 - 2021 (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;
• Primary and secondary data sources;
• The concept of variation;
• Quantitative and exploratory data techniques;
• Presenting data;
• Descriptive and Inferential Statistics;
• Data types in quantitative analysis;
• Developing hypotheses;
• Sampling;
• Errors in data collection and sampling;
• Assessing risk;
• Quantifying and incorporating variation in decision making;
• Confidence intervals;
• Hypothesis testing;
• Presentation of findings;
• Correlation and regression.

Assumed knowledge

Basic numeracy and literacy.

Assessment items

Written Assignment: Assignment 1

Written Assignment: Assignment 2

Tutorial / Laboratory Exercises: Laboratory participation

Formal Examination: Final exam

Quiz: Online Quizzes

Compulsory Requirements

In order to pass this course, each student must complete ALL of the following compulsory requirements:

General Course Requirements:

• Workshop: There is a compulsory attendance requirement in this course. - Students must attend at least 80% of workshops.

Contact hours

Ourimbah

Workshop

Face to Face On Campus 2 hour(s) per Week for Full Term starting in week 1

Students are expected to complete 4 hours of guided learning via online preparation, workshops, discussion groups or self-directed learning and 6 additional hours of independent study per week.

Newcastle City Precinct

Workshop

Face to Face On Campus 2 hour(s) per Week for Full Term starting in week 1

Students are expected to complete 4 hours of guided learning via online preparation, workshops, discussion groups or self-directed learning and 6 additional hours of independent study per week.

The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.