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. The unit emphasises real empirical applications in business, finance, accounting and marketing, using modern software tools.
1x 2hr lecture and 1x 1hr tutorial per week
individual assignment (20%); group project (25%); mid-semester test (20%); final exam (35%)
This unit relies on mathematical knowledge at the level of the Maths in Business program, including calculus and matrix algebra. Students who do not meet this requirement are strongly encouraged to acquire the needed mathematical skills prior to enrolling in this unit.
Students commencing from 2018: QBUS1040; Pre-2018 continuing students: BUSS1020 or DATA1001 or ECMT1010 or ENVX1001 or ENVX1002 or STAT1021 or ((MATH1005 or MATH1015) and MATH1115) or 6 credit points of MATH units which must include MATH1905.Prohibitions