Data and Business Decision Making
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Australia’s fourth oldest university, the University of Tasmania, is highly regarded internationally for teaching and academic excellence. The university offers more than 100 undergraduate degrees and more than 50 postgraduate programs across a range of disciplines. The university offers students a diverse range of opportunities, the chance to learn from leading experts, and excellent preparation for their future careers.
QS RANKING 2021
Times Higher Education Ranking 2021
Upon completion of this subject, the student should be able to:
- Understand key statistical concepts and their application in business environment.
- Apply various statistical techniques to analyse a range of business problems.
- Communicate statistical findings and provide relevant recommendations for 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:
No additional 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%%)
Current study term: 11 Jul 21 to 17 Oct 21
Check the learning management system (LMS) of your university for textbook details.