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 unit focusses on the interpretation and application of the various techniques studied.
|Unit name||Data and Business Decision Making|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Coordinator||Mr Moses Kangogo|
|Delivered By||University of Tasmania|
|Location||Study period||Attendance options||Available to|
- International students
- Domestic students
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|Study Period||Start date||Census date||WW date||End date|
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2023 are indicative and subject to change. Finalised census dates for 2023 will be available from the 1st October 2022. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
- Illustrate how key statistical concepts apply to business environments.
- Appraise and apply various statistical techniques to critically analyse a range of business problems.
- Organise and communicate statistical findings to provide relevant recommendations for business decision making.
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
You cannot enrol in this unit as well as the following:BEA681 AND BEA654
Students (face to face and online) will need to attend FOUR (4) three-hour workshops during the semester.
Lectures are delivered via recordings. They will be updated weekly on MyLo
|Assessment||Online Test 1 (15%)|Online test 2 (15%)|Examination (40%)|Group Assignment (30%)|
|Timetable||View the lecture timetable | View the full unit timetable|
Levine, D., Stephan, D. and Szabat, K. (2020). Statistics for Managers Using Microsoft Excel. 9th ed. New Jersey: Prentice Hall, Upper Saddle River.
Bowerman, B., O'Connel, R. and Murphree, E. (2011). Business Statistics in Practice. 6th ed. New York: The McGraw-Hill Companies Inc. 1221 Avenue of the Americas.
McClave, T., Benson, G. and Sincich, T. (2005). Statistics for Business and Economics. 9th ed. New Jersey: Prentice Hall, Upper Saddle River
|Links||Booktopia textbook finder|
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