Module Catalogues

Statistics for Business

Module Title Statistics for Business
Module Level Level 1
Module Credits 5.00
Academic Year 2021/22
Semester SEM1

Aims and Fit of Module

This module aims to provide students with an introduction to business statistics for the non-specialist. The module will provide a broad understanding of the nature of variability and how business statistics can be applied by managers. It will also enable students to derive and understand a variety of graphs and statistics; these skills provide a means for managers to make effective use of statistics in the process of management and decision-making.

Learning outcomes

A A. demonstrate a basic understanding of mathematical tools and their applications to management; B B. describe and analyse data; C C. display an understanding of the fundamental concepts of statistics, sampling and probability as they are applied to management contexts; D D. analyse the relationship between quantitative variables using simple correlation and regression techniques;

Method of teaching and learning

This module is taught in both lecture and tutorial sessions. Lectures shall include a presentation of the key theoretical knowledge with problem solving examples; tutorials will provide students with valuable opportunities to apply their learning to real-world cases in a computer laboratory. In tutorials, students will have the opportunity to develop their mathematical problem-solving skills with the support of teaching staff. Laboratory-based computer software practice will introduce students to empirical analysis and quantitative methods as they are applied to case scenarios. Students shall also be provided with case study problems to solve in their self-study time. The use of real-world cases provides students with an important link between the fundamentals of statistics and their applications for management and decision making.