School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Quantitative and Statistical Techniques for Business
  • Unit Code

    ECF1151
  • Year

    2017
  • Enrolment Period

    1
  • Version

    3
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Anna GOLAB

Description

Quantitative and Statistical Techniques for Business is an introductory course which aims to provide students with an early appreciation of the fundamentals of quantitative and statistical techniques for a fuller understanding in the area of business, finance and economics. A certain level of skill and understanding of basic mathematical methods is required if the study of finance, economics or business is pursued beyond first year level. This unit provides finance, accounting, management and economics students with these basic quantitative/mathematical tools to better analyse problems in the business environment. It also aims to give students an understanding of the value and limitations of the financial and statistical approach to business decision making, a basic requirement for any Business degree.

Learning Outcomes

On completion of this unit students should be able to:

  1. Arrive at and interpret a solution that best fits the scenario.
  2. Demonstrate techniques of how to read and understand problems that can be solved using mathematical and statistical arguments.
  3. Dissect and interpret problems using mathematical, statistical and algebraic notations.
  4. Transport these notations into a logical sequence using critical reasoning for problem solving.
  5. Understand the value and limitations of the statistical and financial approach to business decision making.

Unit Content

  1. Basic Mathematics & Operation with Algebraic Expressions.
  2. Confidence Interval Estimation of population parameters.
  3. Hypothesis testing for single mean and proportion.
  4. Linear correlation and regression analysis and inference.
  5. Computer output and applications for various topics.
  6. Introduction to equations and algebraic solutions using financial applications.
  7. Random variables and their expected values.
  8. Mathematical Models.
  9. Introduction to basic concepts in statistics.
  10. Review of the measures of central tendency and dispersion.
  11. Elementary probability concepts.
  12. Business models using the Binomial, Poisson and Normal distributions.
  13. Sampling distributions for both small and large samples.

Additional Learning Experience Information

On-campus students attend a weekly two hour lecture and a one hour tutorial. Off-campus students access materials via Blackboard. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
AssignmentAssignment 125%
TestThree online tests25%
ExaminationFinal examination50%
ONLINE
TypeDescriptionValue
AssignmentAssignment 125%
TestThree online tests25%
ExaminationFinal examination50%

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF1151|3|1

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Quantitative and Statistical Techniques for Business
  • Unit Code

    ECF1151
  • Year

    2017
  • Enrolment Period

    2
  • Version

    3
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Anna GOLAB

Description

Quantitative and Statistical Techniques for Business is an introductory course which aims to provide students with an early appreciation of the fundamentals of quantitative and statistical techniques for a fuller understanding in the area of business, finance and economics. A certain level of skill and understanding of basic mathematical methods is required if the study of finance, economics or business is pursued beyond first year level. This unit provides finance, accounting, management and economics students with these basic quantitative/mathematical tools to better analyse problems in the business environment. It also aims to give students an understanding of the value and limitations of the financial and statistical approach to business decision making, a basic requirement for any Business degree.

Learning Outcomes

On completion of this unit students should be able to:

  1. Arrive at and interpret a solution that best fits the scenario.
  2. Demonstrate techniques of how to read and understand problems that can be solved using mathematical and statistical arguments.
  3. Dissect and interpret problems using mathematical, statistical and algebraic notations.
  4. Transport these notations into a logical sequence using critical reasoning for problem solving.
  5. Understand the value and limitations of the statistical and financial approach to business decision making.

Unit Content

  1. Basic Mathematics & Operation with Algebraic Expressions.
  2. Confidence Interval Estimation of population parameters.
  3. Hypothesis testing for single mean and proportion.
  4. Linear correlation and regression analysis and inference.
  5. Computer output and applications for various topics.
  6. Introduction to equations and algebraic solutions using financial applications.
  7. Random variables and their expected values.
  8. Mathematical Models.
  9. Introduction to basic concepts in statistics.
  10. Review of the measures of central tendency and dispersion.
  11. Elementary probability concepts.
  12. Business models using the Binomial, Poisson and Normal distributions.
  13. Sampling distributions for both small and large samples.

Additional Learning Experience Information

On-campus students attend a weekly two hour lecture and a one hour tutorial. Off-campus students access materials via Blackboard. Regular online access is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
AssignmentAssignment 125%
TestThree online tests25%
ExaminationFinal examination50%
ONLINE
TypeDescriptionValue
AssignmentAssignment 125%
TestThree online tests25%
ExaminationFinal examination50%

Core Reading(s)

  • Croucher, J. S. (2016). Introductory mathematics & statistics. (6th ed.). North Ryde, NSW: MaGraw Hill Education.

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ECF1151|3|2