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Unit of Study

Statistical Modelling for Business
UoS Code QBUS2810
Credit points 6
Offered Semester 1 and Semester 2
Prerequisites BUSS1020 or ECMT1010 or ENVX1001 or ENVX1002 or 6 credit points in MATH units including (MATH1005 or MATH1905 or MATH1015)
Prohibitions ECMT2110
Assumed Knowledge
Additional Information
Lectures 1x 2hr lecture and 1x 1hr tutorial per week
Assessment individual assignments (15%), mid-semester exam (20%), group project (30%), final exam (35%)
Description Statistical analysis of quantitative data is a fundamental aspect of modern business. The pervasiveness of information technology in all aspects of business means that managers are able to use very large and rich data sets. This unit covers a range of methods to model and analyse the relationships in such data, extending the introductory methods in BUSS1020. The methods are useful for detecting, analysing and making inferences about patterns and relationships within the data so as to support business decisions. This unit offers an insight into the main statistical methodologies for modelling the relationships in both discrete and continuous business data. This provides the information requirements for a range of specific tasks that are required, e.g. in financial asset valuation and risk measurement, market research, demand and sales forecasting and financial analysis, among others. Emphasis will be given to real empirical applications in business, finance, accounting and marketing, using modern software tools.