This unit is designed to give students an introduction to statistical and quantitative methods within a business-related framework and to provide students with a sound foundation for more advanced statistical and quantitative studies. The course will provide opportunities for the student to gain skills in the presentation of business and economic data, the use of frequency distributions, measures of central tendency and dispersion, principles of probability, use of probability distributions, sampling theory, estimation, hypothesis testing, regression analysis, the use of indices and forecasting methods.
Objectives
At the completion of this unit, students will have
Knowledge of
1. Typical sources of data such as: market research surveys, mandatory reporting, census and Consumer Price Index, commercial sources.
2. Sampling techniques, sampling error.
Understanding of
3. Fundamental statistical concepts such as: probability, mathematical expectation, the Central Limit Theorem, hypothesis testing, correlation and regression.
Skills in:
4. Techniques for basic statistical analysis including: the calculation of summary statistics, graphic display of data including stem-and-leaf plots, boxplots and histograms.
5. Calculations required for problems based on concepts given in (3)
6. Calculation of probabilities by: direct calculation from probability distribution, use of tables and spreadsheets.
7. The use of computer software (eg SYSTAT) to perform all statistical techniques covered.
8. Communicating the results of descriptive statistical analysis through a written report.
Prerequisites
This is a first year unit with no prerequisites.
Unit relationships
FIT1006 is a core unit in the Bachelor of Business Systems and the Bachelor of Business Information Systems.
You may not study this unit and ETC2010, ETF2211, ETW1000, ETW1010, ETW2111, ETW1102, ETX1100, ETX2111, ETX2121, MAT1097, ETC1000, ETC1010 in your degree.
Texts and software
Required text(s)
Selvanathan et al, "Australian Business Statistics", Abridged Fourth Edition, Nelson 2007.
Textbook availability
Text books are available from the Monash University Book Shops. Availability from other suppliers cannot be assured. The Bookshop orders texts in specifically for this unit. You are advised to purchase your text book early.
Software requirements
Students will use SYSTAT and Microsoft Excel to perform computer-based statistical calculations. Thes applications are available in the university's computer laboratories.
Hardware requirements
On-campus students may use the facilities available in the computing labs. Information about computer use for students is available from the ITS Student Resource Guide in the Monash University Handbook.
Recommended reading
Selvanathan et al, "Australian Business Statistics", Abridged Fourth Edition, Nelson 2007.
A good non-mathematical text is:Statistics Without Tears, Derek Rowntree, Penguin, Harmondsworth, 1981.
Library access
You may need to access the Monash library either personally to be able to satisfactorily complete the subject. Be sure to obtain a copy of the Library Guide, and if necessary, the instructions for remote access from the library website.
Study resources
Study resources for FIT1006 are:
Detailed lecture outline.
Summary of each lecture's powerpoint presentation as a pdf.
Tutorial outline and questions to be attempted as a pdf.
Data files, sample Excel spreadsheet and SYSTAT files.
Graphical presentation of data. Measures of centre.
3
Measures of dispersion. Introduction to Excel and SYSTAT.
4
Analysing Data. Writing a statistical report. Introduction to probability.
5
Probability. Probability distributions.
6
Binomial and Poisson distributions. The Normal distribution.
Non teaching week
7
Correlation and regression.
8
Index numbers.
9
Theoretical sampling distributions.
10
Estimation.
11
Hypothesis testing.
12
Categorical data. Time series analysis.
13
Time series analysis. Revision.
Timetable
The timetable for on-campus classes for this unit can be viewed in Allocate+
Assessment
Assessment weighting
Assessment for the unit consists of 1 assignment with a weighting of 15%, one test conducted during a lecture with a weighting of 25% and an examination with a weighting of 60%.
Assessment Policy
To pass this unit you must:
Pass the exam and obtain a weighted average of all assessments of 50% or greater.
Your score for the unit will be calculated by:
The weighted sum of each assessment task.
Assessment Requirements
Assessment
Due Date
Weighting
Written assignment.
April 18
15%
Test during lecture.
May 2
25 %
The exam is 2 hours long and is closed book.
Exam period (S1/07) starts on 07/06/07
60 %
Assignment specifications will be made available On the FIT1006 MUSO site..
Assignment Submission
Assignments will be submitted into an assignment box in the foyer, level 1, Building 63.
Extensions and late submissions
Late submission of assignments
Assignments received after the due date with out prior arrangement will be subject to a penalty of 2 marks per day. (The assignment is out of 20 marks.)
This policy is strict because comments or guidance will be given on assignments as they are returned, and sample solutions may also be published and distributed, after assignment marking or with the returned assignment.
Extensions
It is your responsibility to structure your study program around assignment deadlines, family, work and other commitments. Factors such as normal work pressures, vacations, etc. are seldom regarded as appropriate reasons for granting extensions.
Requests for extensions must be made verbally or be email at least two days before the due date. You will be asked to forward original medical certificates in cases of illness, and may be asked to provide other forms of documentation where necessary. A copy of the email or other written communication of an extension must be attached to the assignment submission.
Grading of assessment
Assignments, and the unit, will be marked and allocated a grade according to the following scale:
Grade
Percentage/description
HD High Distinction -
very high levels of achievement, demonstrated knowledge and understanding, skills in application and high standards of work encompassing all aspects of the tasks.
In the 80+% range of marks for the assignment.
D Distinction -
high levels of achievement, but not of the same standards. May have a weakness in one particular aspect, or overall standards may not be quite as high.
In the 70-79% range.
C Credit -
sound pass displaying good knowledge or application skills, but some weaknesses in the quality, range or demonstration of understanding.
In the 60-69% range.
P Pass
acceptable standard, showing an adequate basic knowledge, understanding or skills, but with definite limitations on the extent of such understanding or application. Some parts may be incomplete.
In the 50-59% range.
N Not satisfactory
failure to meet the basic requirements of the assessment.
Below 50%.
Assignment return
Assignments will be returned in tutorials.
Feedback
Feedback to you
You will receive feedback on your work and progress in this unit. This feedback may be provided through your participation in tutorials and class discussions, as well as through your assignment submissions. It may come in the form of individual advice, marks and comments, or it may be provided as comment or reflection targeted at the group. It may be provided through personal interactions, such as interviews and on-line forums, or through other mechanisms such as on-line self-tests and publication of grade distributions.
Feedback from you
You will be asked to provide feedback to the Faculty through a Unit Evaluation survey at the end of the semester. You may also be asked to complete surveys to help teaching staff improve the unit and unit delivery. Your input to such surveys is very important to the faculty and the teaching staff in maintaining relevant and high quality learning experiences for our students.
And if you are having problems
It is essential that you take action immediately if you realise that you have a problem with your study. The semester is short, so we can help you best if you let us know as soon as problems arise. Regardless of whether the problem is related directly to your progress in the unit, if it is likely to interfere with your progress you should discuss it with your lecturer or a Community Service counsellor as soon as possible.
Plagiarism and cheating
Plagiarism and cheating are regarded as very serious offences. In cases where cheating has been confirmed, students have been severely penalised, from losing all marks for an assignment, to facing disciplinary action at the Faculty level. While we would wish that all our students adhere to sound ethical conduct and honesty, I will ask you to acquaint yourself with Student Rights and Responsibilities and the Faculty regulations that apply to students detected cheating as these will be applied in all detected cases.
In this University, cheating means seeking to obtain an unfair advantage in any examination or any other written or practical work to be submitted or completed by a student for assessment. It includes the use, or attempted use, of any means to gain an unfair advantage for any assessable work in the unit, where the means is contrary to the instructions for such work.
When you submit an individual assessment item, such as a program, a report, an essay, assignment or other piece of work, under your name you are understood to be stating that this is your own work. If a submission is identical with, or similar to, someone else's work, an assumption of cheating may arise. If you are planning on working with another student, it is acceptable to undertake research together, and discuss problems, but it is not acceptable to jointly develop or share solutions unless this is specified by your lecturer.
Intentionally providing students with your solutions to assignments is classified as "assisting to cheat" and students who do this may be subject to disciplinary action. You should take reasonable care that your solution is not accidentally or deliberately obtained by other students. For example, do not leave copies of your work in progress on the hard drives of shared computers, and do not show your work to other students. If you believe this may have happened, please be sure to contact your lecturer as soon as possible.
Cheating also includes taking into an examination any material contrary to the regulations, including any bilingual dictionary, whether or not with the intention of using it to obtain an advantage.
Plagiarism involves the false representation of another person's ideas, or findings, as your own by either copying material or paraphrasing without citing sources. It is both professional and ethical to reference clearly the ideas and information that you have used from another writer. If the source is not identified, then you have plagiarised work of the other author. Plagiarism is a form of dishonesty that is insulting to the reader and grossly unfair to your student colleagues.
Communication
Communication methods
You can communicate with your lecturer at the end of lectures, by email, by phone or during student consultations. Contact details are given in the notes for Lecture 1.
Notices
Notices related to the unit during the semester will be placed on MUSO home page for this unit.
Consultation Times
Wednesday 10 - 12. Other times by appointment.
If direct communication with your unit adviser/lecturer or tutor outside of consultation periods is needed you may contact the lecturer and/or tutors at:
Dr John Betts Senior Lecturer Phone +61 3 990 55804
All email communication to you from your lecturer will occur through your Monash student email address. Please ensure that you read it regularly, or forward your email to your main address. Also check that your contact information registered with the University is up to date in My.Monash.
