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FIT1006 Business information analysis - Semester 2, 2011

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 unit 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.

Mode of Delivery

  • Gippsland (Day)
  • Gippsland (Off-campus)

Contact Hours

2 hrs lectures/wk, 2 hrs laboratories/wk

Workload

Students will be expected to spend a total of 12 hours per week during semester on this unit as follows:

Lectures: 2 hours per week
Tutorials/Lab Sessions: 2 hours per week per tutorial

and up to an additional 8 hours in some weeks for completing lab and project work, private study and revision.

Unit Relationships

Prohibitions

BUS1100, ETC1000, ETC1010, ETC2010, ETF2211, ETW1000, ETW1010, ETW1102, ETW2111, ETX1100, ETX2111, ETX2121, MAT1097

Chief Examiner

Campus Lecturer

Gippsland

Dr Dengsheng Zhang

Tutors

Gippsland

Dr Dengsheng Zhang

Academic Overview

Learning Objectives

At the completion of this unit students will have -
A knowledge and understanding of:

  • typical sources of data such as: market research surveys, mandatory reporting, census and Consumer Price Index, commercial sources;
  • sampling techniques, sampling error;
  • fundamental statistical concepts such as: probability, mathematical expectation, the Central Limit Theorem, hypothesis testing, correlation and regression.
At the completion of this unit, students will have skills in:
  • techniques for basic statistical analysis including: the calculation of summary statistics, graphic display of data including stem-and-leaf plots, boxplots and histograms;
  • calculations required for problems based on concepts given in point-3;
  • calculation of probabilities by: direct calculation from probability distribution, use of tables and spreadsheets;
  • the use of computer software (eg SYSTAT) to perform all statistical techniques covered;
  • communicating the results of descriptive statistical analysis through a written report.

Graduate Attributes

Monash prepares its graduates to be:
  1. responsible and effective global citizens who:
    1. engage in an internationalised world
    2. exhibit cross-cultural competence
    3. demonstrate ethical values
  2. critical and creative scholars who:
    1. produce innovative solutions to problems
    2. apply research skills to a range of challenges
    3. communicate perceptively and effectively

Assessment Summary

Examination (2 hours): 60%; In-semester assessment: 40%

Assessment Task Value Due Date
Written assignment. 20% Week 6
Written Assignment 20% Week 12
Examination 1 60% To be advised

Teaching Approach

Lecture and tutorials or problem classes
This teaching and learning approach provides facilitated learning, practical exploration and peer learning.

Feedback

Our feedback to You

Types of feedback you can expect to receive in this unit are:
  • Informal feedback on progress in labs/tutes
  • Graded assignments without comments
  • Test results and feedback
  • Solutions to tutes, labs and assignments

Your feedback to Us

Monash is committed to excellence in education and regularly seeks feedback from students, employers and staff. One of the key formal ways students have to provide feedback is through SETU, Student Evaluation of Teacher and Unit. The University's student evaluation policy requires that every unit is evaluated each year. Students are strongly encouraged to complete the surveys. The feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied and areas for improvement.

For more information on Monash's educational strategy, and on student evaluations, see:
http://www.monash.edu.au/about/monash-directions/directions.html
http://www.policy.monash.edu/policy-bank/academic/education/quality/student-evaluation-policy.html

Previous Student Evaluations of this unit

If you wish to view how previous students rated this unit, please go to
https://emuapps.monash.edu.au/unitevaluations/index.jsp

Required Resources

  • Prescribed Textbook: Selvanathan et al, "Australian Business Statistics", Abridged Fifth Edition, Nelson 2011.
  • Students may need to use the university laboratories to access statistical software during private study.
  • Students will use SYSTAT and Microsoft Excel to perform computer-based statistical calculations. These applications are available in the university's computer laboratories.

Examination material or equipment

Students are permitted to use calculators in the exam.

Unit Schedule

Week Activities Assessment
0   No formal assessment or activities are undertaken in week 0
1 Introduction. Surveys and data collection.  
2 Graphical presentation of data. Measures of centre. Measures of dispersion.  
3 Introduction to Excel and SYSTAT. Writing a statistical report.  
4 Correlation and regression.  
5 Introduction to probability. Bayes' Theorem.  
6 Binomial and Poisson distributions. The Normal distribution. Assignment 1 Due week 6
7 Index numbers.  
8 Test during lecture. Introduction to estimation.  
9 Estimation.  
10 Hypothesis testing.  
11 Hypothesis testing: categorical data. Time series analysis.  
12 Time series analysis. Assignment 2 Due week 12
  SWOT VAC No formal assessment is undertaken SWOT VAC
  Examination period LINK to Assessment Policy: http://policy.monash.edu.au/policy-bank/
academic/education/assessment/
assessment-in-coursework-policy.html

*Unit Schedule details will be maintained and communicated to you via your MUSO (Blackboard or Moodle) learning system.

Assessment Requirements

Assessment Policy

To pass a unit which includes an examination as part of the assessment a student must obtain:

  • 40% or more in the unit's examination, and
  • 40% or more in the unit's total non-examination assessment, and
  • an overall unit mark of 50% or more.

If a student does not achieve 40% or more in the unit examination or the unit non-examination total assessment, and the total mark for the unit is greater than 50% then a mark of no greater than 49-N will be recorded for the unit

Assessment Tasks

Participation

  • Assessment task 1
    Title:
    Written assignment.
    Description:
    Assessment of Week 1-6 materials
    Weighting:
    20%
    Criteria for assessment:

    How well underlying principles and theories are demonstrated in the student's answer

    Due date:
    Week 6
  • Assessment task 2
    Title:
    Written Assignment
    Description:
    Assessment of Week 7-12 materials
    Weighting:
    20%
    Criteria for assessment:

    How well underlying principles and theories are demonstrated in the student's answer

    Due date:
    Week 12

Examinations

  • Examination 1
    Weighting:
    60%
    Length:
    2 hours
    Type (open/closed book):
    Closed book
    Electronic devices allowed in the exam:
    Calculators (including Graphing calculators) are allowed in the exam. However, any calculator with memory of unit materials will not be allowed.

Assignment submission

It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/plagiarism-procedures.html) for students to submit an assignment coversheet for each assessment item. Faculty Assignment coversheets can be found at http://www.infotech.monash.edu.au/resources/student/forms/. Please check with your Lecturer on the submission method for your assignment coversheet (e.g. attach a file to the online assignment submission, hand-in a hard copy, or use an online quiz).

Extensions and penalties

Returning assignments

Other Information

Policies

Student services

The University provides many different kinds of support services for you. Contact your tutor if you need advice and see the range of services available at www.monash.edu.au/students The Monash University Library provides a range of services and resources that enable you to save time and be more effective in your learning and research. Go to http://www.lib.monash.edu.au or the library tab in my.monash portal for more information. Students who have a disability or medical condition are welcome to contact the Disability Liaison Unit to discuss academic support services. Disability Liaison Officers (DLOs) visit all Victorian campuses on a regular basis

READING LIST

A good non-mathematical text is:Statistics Without Tears, Derek Rowntree, Penguin, Harmondsworth, 1981.