Course Title: Business Statistics

Part A: Course Overview

Course Title: Business Statistics

Credit Points: 12.00

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities.  

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.  

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.  

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus  

  

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.

Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
ECON1248	City Campus	Undergraduate	525T Business & Enterprise	Face-to-Face	Sem 1 2022, Sem 2 2022, Sem 1 2023, Sem 2 2023, Sem 1 2024
ECON1248	City Campus	Undergraduate	650T Vocational Business Education	Face-to-Face	Sem 1 2010, Sem 2 2010, Sem 1 2011, Sem 2 2011, Sem 1 2012, Sem 1 2014, Sem 2 2014, Sem 1 2015, Sem 2 2015, Sem 1 2018, Sem 2 2018, Sem 1 2019, Sem 1 2020, Sem 2 2020, Sem 1 2021, Sem 2 2021
ECON1260	South China Univ - Nanhai	Undergraduate	650T Vocational Business Education	Face-to-Face	Offsh 1 10
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	650T Vocational Business Education	Face-to-Face	Offsh 1 10, Offsh 1 11, Offsh1 12, Offsh1 13

Flexible Terms

Course Code	Campus	Career	School	Learning Mode	Teaching Period(s)
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	525T Business & Enterprise	Face-to-Face	OFFSe12022 (All)
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	525T Business & Enterprise	Face-to-Face	OFFSe12023 (CA1)
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	650T Vocational Business Education	Face-to-Face	OFFSe12019 (CA1)
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	650T Vocational Business Education	Face-to-Face	OFFSe12020 (XXXX)
ECON1263	Shanghai Uni of Int Bus & Econ	Undergraduate	650T Vocational Business Education	Face-to-Face	OFFSe12021 (CA1)

Course Coordinator: Gowri Raviganesh

Course Coordinator Phone: +61 3 9925 1377

Course Coordinator Email: gowri.raviganesh@rmit.edu.au

Course Coordinator Location: RMIT City Campus Building 80 Level 5

Course Coordinator Availability: By email or by Appointment.

Pre-requisite Courses and Assumed Knowledge and Capabilities

None

Course Description

Business managers make daily decisions on a variety of issues including resource allocation, forecasting sales, or understanding customer demographics. These decisions increasingly rely on analysing data. This course introduces you to a range of statistical techniques which managers can use to make informed decisions. You will apply these techniques to relatively simple practical examples.
For larger applications you will learn how to use Microsoft Excel to perform any of the calculations associated with these statistical techniques. The focus in this subject however is on how to analyse and interpret your own results or the output from Excel. You will learn how to apply these techniques by working with examples which are relevant to most major business disciplines and the functional areas of large organizations. These include examples from Accounting, Economics, Finance, Financial Planning, Human Resource Management, Information Technology, Logistics and Transport and Marketing.

Objectives/Learning Outcomes/Capability Development

-

On successful completion of this program you will be able to:

1. Illustrate and describe information using a range of numerical and graphical procedures both written and in Excel.
2. Using sample information, apply the scientific process to arrive at probable conclusions about population values.
3. Highlight statistical relationships between variables in data sets and to predict values of strategic variables using regression and correlation analysis.
4. Critically analyse, in team based collaboration, the statistical findings published by the media, research agencies and the Government to validate and verify its accuracy.
5. Communicate statistical findings and results in an unbiased manner to a non-technical audience such as decision makers, stakeholders and the general public.

Overview of Learning Activities

In this course you will be encouraged to be an active learner. Your learning will be supported through various in-class and out-of-class activities comprising individual and group work. These may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; conducting presentations; producing written work and collaborating with peers on set tasks or projects.
You will use a calculator and spreadsheet tools to solve problems in the areas of finance, accounting, marketing, and management, using the appropriate statistical skills, and discuss and present your results. You will learn different techniques for approaching the same problem. Classes will involve both discussion and online activities.

Overview of Learning Resources

Various learning resources are available online through myRMIT/Canvas. In addition to topic notes; assessment details and a study schedule you may also be provided with links to relevant online information; readings; audio and video clips and communication tools to facilitate collaboration with your peers and to share information.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on +61 3 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator will be made available to you as required during the teaching period.

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 10% 
Linked CLOs: 1, 2, 3

Assessment Task 2: 40% 
Linked CLOs: 1, 2, 3, 4

Assessment Task 3: 50% 
Linked CLOs: 1, 2, 3, 5

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.