# Statistical Decision Making - 2018

To enrol in this unit, you must be accepted into a course from the provider. Read before you start

## Unit summary

### STA80006

• Delivery method: Fully Online
• Prerequisites: Yes
• Duration: 13 weeks
• Government loans available: FEE-HELP
• Availability for 2017: SP1
• Availability for 2018: SP1
• Assessment: Assignments - 2 (40%) , Invigilated Exam (50%) - Learn more

Unit provided by

2018 Fees
AUD\$
Domestic 2,830.00
Domestic continuing 2,620.00
International 3,080.00
International continuing 2,870.00

Tuition fees are reduced for continuing registered SWI students.

Please note: this unit was previously titled Using R for Statistical Analysis

Students will learn to model and manage uncertainty and risk. Some of the most commonly used probability distributions will be introduced together with Monte Carlo simulations. The concept of Maximum Likelihood Estimation (MLE) will also be introduced, allowing the estimation of distribution parameters. Probabilistic methods and models will then be illustrated using appropriate examples and software.

Please note: assessment values are indicative only, details will be advised at the start of the unit.

Students who successfully complete this unit will be able to:

1. Identify appropriate probability distributions for modelling chance occurrences
2. Simulate such distributions and obtain estimates of distribution parameters using the method of moments and maximum likelihood estimation
3. Navigate probabilistic methods for working with uncertainty
4. Formulate probabilistic models for risk in real world contexts
5. Use probabilistic models to design statistical systems for the management of risk and uncertainty.
• Assignments — 2 (40%)
• Invigilated Exam (50%)
• Quizzes — Online (10%)

#### Equivalent units

You cannot enrol in this unit if you have successfully completed any of the following unit(s) because they are considered academically equivalent:

• HMS796 — Using R for Statistical Analysis

#### Mandatory prerequisites

You must have successfully completed the following unit(s) before starting this unit:

• Other special requirement — You will require the R software package which is available freely on the web.

In order to enrol in this unit, you must be accepted into one of the following courses:

This unit addresses the following topics.

NumberTopic
1Introduction to commonly used probability distributions
2Introduction to Method of Moments and Maximum Likelihood Estimation (MLE) for estimation purposes
3Applications for discrete, continuous and mixture distributions
4Applications for univariate and multivariate distributions
5Development of statistical models for identifying risk factors
6Formulation of commonly used probabilistic models and systems for managing uncertainty (e.g. Acceptance Sampling, Process Control, Queuing Theory)

This unit is delivered using the following methods and materials:

#### Instructional Methods

• Discussion Forum/Discussion Board
• Online Quizzes/Tests
• Online assignment submission
• Podcasting/Lecture capture
• Standard Media

#### Print based materials

• Welcome Letter

#### Online materials

• Printable format materials

This unit is a core requirement in the following courses:

This unit may be eligible for credit towards other courses:

1. Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
2. In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Co-Op textbook list.

Textbook information for this unit is currently being updated and will be available soon. Please check back regularly for updates. Alternatively, visit the The Co-op website and enter the unit details to search for available textbooks.

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