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FIT1006 Business information analysis - Semester 1, 2015

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

  • Clayton (Day)
  • Clayton (Online)

Workload Requirements

Minimum total expected workload equals 12 hours per week comprising:

(a.) Contact hours for on-campus students:

  • Two hours lectures
  • Two hours tutorials

(b.) Study schedule for off-campus students:

  • Off-campus students generally do not attend lecture, tutorial and laboratory sessions, however should plan to spend equivalent time working through the relevant resources and participating in discussion groups each week.

(c.) Additional requirements (all students):

  • A minimum of 8 hours independent study per week for completing lab and project work, private study and revision.

See also Unit timetable information

Unit Relationships

Prohibitions

BUS1100, ETC1000, ETC1010, ETC2010, ETF2211, ETW1000, ETW1010, ETW1102, ETW2111, ETX1100, ETX2111, ETX2121, MAT1097, STA1010, SCI1020

Chief Examiner

Campus Lecturer

Clayton

John Betts

Gippsland

Kai Ming Ting

Tutors

Clayton

To be announced

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 the Student Evaluation of Teaching and Units (SETU) survey. 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, see:

www.monash.edu.au/about/monash-directions/ and on student evaluations, see: www.policy.monash.edu/policy-bank/academic/education/quality/student-evaluation-policy.html

Previous Student Evaluations of this Unit

Previous students have commented that they enjoy using real world examples. We will continue to use them. On-campus students in 2015 will continue to use clickers to encourage peer-assisted learning and to increase their engagement during lectures. Students in 2013 and 2014 really enjoyed using the clickers and obtained higher grades compared with previous years!

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

Academic Overview

Learning Outcomes

On successful completion of this unit students should be able to:
  • perform basic statistical analysis by hand, and by using spreadsheets and statistical software;
  • employ a range of numerical and graphical techniques for the analysis and display of data, including the calculation of summary statistics and the construction of stem-and-leaf plots, boxplots and histograms;
  • communicate results of descriptive statistical analysis in a written report;
  • analyse the relationship between variables in a linear model using correlation and regression;
  • calculate probabilities using calculators, tables, spreadsheets and statistical software;
  • critically analyse sampling techniques,
  • perform hypothesis tests for the mean and proportion;
  • recognise the importance of the central limit theorem to statistical sampling, estimation and hypothesis testing;
  • identify public sources of data such as that provided by the Australian Bureau of Statistics as well as private data sources, such as from market research.

Unit Schedule

Week Activities Assessment
0   No formal assessment or activities are undertaken in week 0
1 Introduction. Surveys and data collection. Class participation assessed throughout the semester
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. Written assignment due 14 April 2015
7 Index numbers.  
8 Test during lecture. Introduction to estimation. Test during lecture 28 April 2015
9 Estimation.  
10 Hypothesis testing.  
11 Time series analysis.  
12 Revision of course.  
  SWOT VAC No formal assessment is undertaken in 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 learning system.

Teaching Approach

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

Assessment Summary

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

Assessment Task Value Due Date
Written assignment 10% 14 April 2015
Test during lecture 20% 28 April 2015
Class participation 10% Throughout the semester
Examination 1 60% To be advised

Assessment Requirements

Assessment Policy

Assessment Tasks

Participation

On campus students will participate in lectures using clickers. This requires students to purchase a clicker from the Campus Bookshop or directly from the Australian Distributor (we use Turning Point clickers).

  • Assessment task 1
    Title:
    Written assignment
    Description:
    Students will be given data to analyse and submit a written report of about four pages.
    Weighting:
    10%
    Criteria for assessment:

    The correctness of calculated statistics. The quality of the explanation. The quality of the written work. Handout will be available on Moodle.

    Due date:
    14 April 2015
  • Assessment task 2
    Title:
    Test during lecture
    Description:
    Students will undertake a test during the lecture covering material studied in Weeks 1 to 7. OCL students will be emailed a take-home test to be returned the following morning.
    Weighting:
    20%
    Criteria for assessment:

    To be advised in lectures. Sample tests will be available on Moodle.

    Due date:
    28 April 2015
  • Assessment task 3
    Title:
    Class participation
    Description:
    On-campus students will use clickers to engage in peer assisted learning activities and respond to multiple choice questions based on pre-reading.

    Off-campus students will assist their peers by contributing to a Wiki.
    Weighting:
    10%
    Criteria for assessment:

    Clicker responses will be recorded. Question types will be multiple choice where a correct answer scores (quiz) or multiple choice where any answer scores (participation). Each class will have about 5 questions. Students will be graded on their best 80% of class responses.

    Off-campus students will be assessed on particpation in forums and will be expected to post a minimum of 10 responses to queries from other students/tutors or the lecturer over the semester. Students will be graded on the correctness or utility of the responses. The top 80% of posts will be graded.

    Due date:
    Throughout the semester
    Remarks:
    On Campus students are required to purchase a Turning Point clicker from the Campus Bookstore or directly from the Australian Distributor.

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.

Learning resources

Monash Library Unit Reading List (if applicable to the unit)
http://readinglists.lib.monash.edu/index.html

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
  • Quiz results
  • Solutions to tutes, labs and assignments

Extensions and penalties

Returning assignments

Assignment submission

It is a University requirement (http://www.policy.monash.edu/policy-bank/academic/education/conduct/student-academic-integrity-managing-plagiarism-collusion-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 electronic submission). Please note that it is your responsibility to retain copies of your assessments.

Online submission

If Electronic Submission has been approved for your unit, please submit your work via the learning system for this unit, which you can access via links in the my.monash portal.

Required Resources

Please check with your lecturer before purchasing any Required Resources. Limited copies of prescribed texts are available for you to borrow in the library, and prescribed software is available in student labs.

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.

Prescribed text(s)

Limited copies of prescribed texts are available for you to borrow in the library.

Selvanathan et al.. (2014). Business Statistics (Abridged) Australia and New Zealand. (6th Edition) Cengage Learning (ISBN: 9780170236997).

Additional subject costs

On Campus students are required to purchase a Turning Point clicker from the Campus Bookstore or directly from the Australian Distributor.

Examination material or equipment

Calculators (including Graphing calculators) are allowed in the exam.

Other Information

Policies

Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and to provide advice on how they might uphold them. You can find Monash’s Education Policies at: www.policy.monash.edu.au/policy-bank/academic/education/index.html

Faculty resources and policies

Important student resources including Faculty policies are located at http://intranet.monash.edu.au/infotech/resources/students/

Graduate Attributes Policy

Student Charter

Student services

Monash University Library

Disability Liaison Unit

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.