This unit develops practical skills in statistical and mathematical techniques commonly used in business decision making. It draws on fundamental business statistics and quantitative analysis theories with contemporary computational skills to critically evaluate complex business problems and to cross-examine them through computer technologies.

Unit details

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Credit points:
Unit code:

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Discriminate between statistical analysis technique to solve a given business problem;  
  2. Exhibit, interpret and critique business and economic data by graphical and numerical statistical methods;  
  3. Apply sampling theory in statistical inference: estimation and hypothesis testing;  
  4. Model and test business and economic relationships using linear regression;  
  5. Critically assess alternative statistical techniques for identifying methods appropriate for the purpose and condition of an analysis;  
  6. Conduct business forecasting using time series data and evaluate forecasting performance; and  
  7. Optimise statistical analysis using a statistical tool.  


Assessment type Description Grade
Test In-Class Test 20%
Report Comparison techniques and statistical modelling for analysing and predicting relationships (Group) 30%
Examination Final Examination 50%

Required reading

Australian Business Statistics (4th ed.).
Black, K., Asafu-Adjaye, J., Burke, P., Khan, N., King, G., Perera, N., Papdimos, A., Sherwood, C., Wasimi, S., & Verma, R. (2016).
Milton, Qld: John Wiley and Sons Australia, Ltd.