Data and Business Decision Making unit (BEA674)

Introduction

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 and; 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.

Summary

Unit name	Data and Business Decision Making
Unit code	BEA674
Credit points	12.5
College/School	Tasmanian School of Business and Economics
Discipline	Finance
Coordinator	Doctor Kwasi Boateng
Delivered By	University of Tasmania and Third Party(ies): ECA
Level	Postgraduate

Availability

Specific information on 2027 unit availability will be available in August

Learning Outcomes

• 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.

Fee Information

2027 fee information will be available in August.

Requisites

Prerequisites

N/A

Mutual Exclusions

You cannot enrol in this unit as well as the following:

BEA681 AND BEA654

Teaching

Teaching Pattern	There will be an introductory  one (1) hour workshop in week 1 for the face-to-face students. Students (face to face and online) will need to attend FOUR (4) three-hour workshops during the semester. Details about the date, time and location of these workshops can be accessed from the University of Tasmania Class Timetable which can be viewed at http://student.admin.utas.edu.au/coursesenrolment/timetable/ Lectures are delivered via recordings. These will be updated weekly on MyLo Lecture notes will be uploaded to MyLO in advance for students to prepare for the upcoming lectures. Please note that lecture notes may be incomplete, for example, spaces will be left as students are expected to draw important diagrams by yourselves and/or solutions for example questions. By filling in these spaces during the lectures, you will consolidate your understanding of the concepts we discuss.
Assessment	Group Assignment (30%)|Online Test (30%)|Examination (40%)
Timetable	View the lecture timetable | View the full unit timetable

Textbooks

Required	Levine, D., Stephan, D. and Szabat, K. (2020). Statistics for Managers Using Microsoft Excel. 9th ed. New Jersey: Prentice Hall, Upper Saddle River.
Recommended	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

The University reserves the right to amend or remove courses and unit availabilities, as appropriate.