Data and Business Decision Making

• • Defining and Collecting Data
  • Organising and Visualising Variables
  • Numerical Descriptive Measures
  • Basic Probability
  • Discrete Probability Distributions
  • The Normal Distribution and other Continuous Distributions
  • Sampling Distributions
  • Mid-Semester Test (During lecture hours)
  • Confidence Interval Estimation
  • Fundamentals of Hypothesis Testing
  • Simple Linear Regression
  • Introduction to Multiple Regression
  • Feedback/Information on Final

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

Core

• TAS-MBA-MAS-2021

Elective

• TAS-HIM-MAS-2021
• TAS-HIM-MAS-2021

Special requirements

No special requirements

Managers need an understanding of statistics for five key reasons: To properly collect, present, describe and interpret information. To draw valid conclusions from incomplete data - typically about large populations based only on information obtained from samples. To obtain reliable forecasts. To improve business processes. To provide a framework for dealing with risk and uncertainty. These five reasons form the basis of the structure and content of Data and Business Decision Making. The use of mathematics and arithmetical calculations are kept to a minimum for selected topics by using the Microsoft Excel spreadsheet package. The subject focusses on the interpretation and application of the various techniques studied.

• Test (15%%)
• Final Exam (60%%)
• Test (5%%)
• Report (20%%)