Business Statistics - Autumn 2021 - Subject Outline PDF

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Description

SUBJECT OUTLINE 26134 Business Statistics Course area

UTS: Business

Delivery

Autumn 2021; City

Credit points 6cp Requisite(s)

26100c Integrating Business Perspectives These requisites may not apply to students in certain courses. There are also course requisites for this subject. See access conditions.

Result type

Grade and marks

Subject coordinator Associate Professor Gordon Menzies (Lectures and overall coordination) Dr Mengheng Li (student enquiries, and tutorials)

Teaching staff Lecturer: Associate Professor Gordon Menzies Office hours: (Dr Mengheng Li) •Time: Every Friday 3:00pm – 5:00pm •Location: CB08.09.16 (wear face mask) •Appointment first via [email protected] •ZOOM office hours are possible, appointment needed. Canvas: Navigate yourself through Canvas for weekly content, announcements and assignments. Enquiry and contact protocol: In most cases, the information you require is available in the subject outline or on Canvas. If you cannot find the answer email [email protected]. For matters related to enrolment, please contact student centre. Our teaching staff has no control over this. The student centre should be contacted if you wish to submit special consideration or to discuss missed assessment. There is no need to email if you are missing a lecture or tutorial as attendance is not part of your assessment. Emails of a personal nature can also be sent to [email protected]. Emails will only be accepted from and sent ONLY to your UTS email address. To assist in identifying and sorting emails, please ensure that your email subject line begins with the subject number, 26134, followed by your surname and student number, and short statement of email purpose.

Subject description This subject is designed to develop students' abilities to assess and critically interpret statistics and business information, and apply it in changing business environments. The subject places strong emphasis on developing a clear theoretical understanding of various analytical tools as well as an appreciation of the application of statistics to business decisions. These skills and competencies provide a foundation for professional practice for further study in the many different majors of the degree.

Subject learning objectives (SLOs) Upon successful completion of this subject students should be able to: 1. apply standard statistical tools in various business decision contexts within a professionally responsible framework 2. apply appropriate quantitative analytical techniques to qualify, support, select and evaluate data as information for business decision-making 3. effectively interpret and communicate results of quantitative analyses for business decision-making 4. effectively use a computer-based data analysis package (i.e. Excel) to critically analyse data. 12/02/2021 (Autumn 2021)

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Contribution to the development of graduate attributes This subject contributes to the Bachelor of Business in that it develops students' abilities to assess and critically interpret statistics and its application in business decision-making. The subject places strong emphasis on developing a clear theoretical understanding of various analytical tools as well as an appreciation of their application to business decisions. The subject will develop skills linked to the Faculty’s graduate attribute that looks at developing critical thinking, creativity and analytical skills; and contributes to the development of business practice oriented skills. This subject contributes to the development of the following graduate attributes: Business knowledge and concepts Critical thinking, creativity and analytical skills Business practice oriented skills This subject also contributes specifically to introducing the following program learning objectives: 1.1 Critically analyse relevant concepts to understand practice in business and related professions in a global workplace 2.1 Locate and critically evaluate relevant data and literature to address business problems through a research approach 5.1 Apply technical and professional skills necessary to operate effectively in business and related professions

Teaching and learning strategies The subject is presented in lecture and tutorial format. Essential principles and theoretical concepts are presented and analysed in lectures. The subject employs electronic resources such as online videos and online practice quizzes to enhance appreciation of theoretical concepts covered during various sessions. Students are required to prepare in advance for tutorial sessions. Students will work through application exercises in small groups outside of tutorial sessions and discuss with peers before presenting in class. In the tutorial sessions, students are led through application exercises that substantiate the theoretical concepts. Students can collaborate outside of class time with peers working through self-practice exercises in lecture slides to prepare the material in adva All students will be provided with the opportunity for initial feedback on their performance in the subject during the first four weeks of the semester, for example, tutorial exercises, quizzes and other assessment methods. Further feedback will be provided in relation to the submitted assessment tasks. In addition, student groups will collaborate and engage in active learning tasks such as prepare exercises in advance, and discuss their work with peers and receive constructive feedback on the assigned task. Further, students will have access to numerous online resources to support student revision. These include supplementary business articles and videos related to Bstats topics.

Content (topics) Introduction to types of data Descriptive statistics Introduction to probability and probability distributions Sampling and sampling distributions Interval estimation Hypothesis testing Comparisons involving means and proportions Linear regression

Program Week/Session

Dates

Description

1

22 Feb

Introduction and Descriptive Statistics I Readings: BAS Chapters 1 and 2 Notes: The first tutorial commences in week 2

2

1 Mar

Descriptive Statistics II and Probability Theory Readings: BAS Chapters 3 and 4 Notes: Tutorials commence

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3

8 Mar

Discrete Probability Distributions Readings: BAS Chapter 5

4

15 Mar

Continuous Probability Distributions Readings: BAS Chapter 6

5

22 Mar

Sampling and Sampling Distributions Readings: BAS Chapter 7 Notes: Instructions on group assignment become available.

6

29 Mar

Point and Interval Estimates Readings: BAS Chapter 8 Notes: The mid-semester examination (20% of final mark) will occur in this week. The one hour mid-sem exam covers content from week 1 to week 5. The exam is online multiple choices which can be taken over a two hour window. See Canvas for details. Tutorials go on as usual.

7

12 Apr

Hypothesis Testing I Readings: BAS Chapters 9

8

19 Apr

Hypothesis Testing II Readings: BAS Chapters 10 and 11

9

26 Apr

Hypothesis Testing III Readings: BAS Chapter 11 and 12 Notes: Your assignment (30% of final mark) is due on 30 Apr, 5pm, Sydney time. See Canvas about how to submit.

10

3 May

Regression Analysis I Readings: BAS Chapters 13 and 14

11

10 May

Regression Analysis II Readings: BAS Chapters 14

12

17 May

Review Lecture and Exam Preparation Notes: Tutorials do take place this week focusing on Regression Analysis.

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Note: Students must attend the lecture and tutorial classes in which they are officially enrolled. Changes to enrolments cannot be made by the coordinator, lecturers or tutorial instructors. A student who turns up to a tutorial class she or he is not enrolled in will be disrupting the learning of students who have the right to be there. If changes to tutorial enrolments must be made, make sure this is done online via eRequest https://www.uts.edu.au/current-students/managing-your-course/using-uts-systems/student-forms-apps-and-systems/ask-uts

Additional information You will do your best in this subject if you: 1.Check Announcements and UTS email regularly. Stay tuned. 2.Enrol / change your tutorial group asap and only via MyTimeTable or Student Centre. We cannot control tutorial groups. 3.Use ZOOM to join tutorials, communicate with your tutor, discuss with your peers and ask questions. 4.Admin questions go to Student Centre. Send emails to [email protected] if you have other issues or less than two content-related questions. Utilise tutorials and office hours for your questions. 5.Check UTS Student Centre for ProctorU information 6.Form groups as early as possible. Use Discussion Board to post “Look for a group” and “Look for groupmates”. Forming group takes time. Start now 7.Make sure you study slides, do exercises, ask questions, attend tutorials, and take advantage of the scheduled office hours.

Lecture/Tutorial Recording Lectures are pre-recorded. Students can access and study recordings whenever and wherever they want. Among all tutorial sessions, one is recorded. A link is updated each week.

Assessment In addition to all the assessment information given below, guidelines, instructions and specific criteria for the assessment may be provided on Canvas at an appropriate time during the semester. It is a requirement for each assessment item that students review this information before attempting the assessment task. Examinations will be conducted under University examination conditions, and hence thoroughly address concerns regarding secure assessment. This includes having a student card when attending examinations. The arrangments regarding the final exam are naturally subject to the evolving Covid-19 situation, so please keep an eye out for any announcements. If the final exam turns out to be online, as is most likely, you need to have a webcam (the one equiped by a laptop suffices) which will be used for checking your identity, and for invigilation. Group assessment will be secured through peer assessment techniques and/or plagiarism detection software.

Assessment task 1: Report (Group) Objective(s): This addresses subject learning objective(s): 1, 2, 3 and 4 Weight:

30%

Task:

To enable businesses to make decisions, they require data collection and analysis to obtain meaningful information that is used in tactical and strategic planning. Therefore, the assignment requires students to demonstrate their ability to locate, select and analyse data using appropriate resources and analytical tools. The assignment requires students to access and critically analyse business data. Further details will be provided on Canvas.

Due:

5.00pm Friday 30 April 2021 See also Further information.

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Further Special Consideration: Any student that has a difficulty with the assessment task should apply for special information: consideration and must do so before the due date of the assessment item. For full details of the special consideration application process and to apply go to www.sau.uts.edu.au/assessment/consideration/index.html For this assignment, the normal understanding would be that if your special consideration is successful you will have the weight of the assignment placed on the final examination - that is, the final examination would be worth 80% of the mark for this subject. With such a large subject, it is infeasible to reschedule marking an assignment to a later date. In addition to the information given above, guidelines, instructions and specific criteria for the assessments will be placed on Canvas in Week 6 at the latest. It is a requirement for this assessment item that all students review this information before attempting this assessment task. If there are any changes to the assessment details or any of the above information, perhaps due to unforeseen circumstances, they will be announced on Canvas. It is your responsibility to note any changes and stay informed.

Assessment task 2: Mid-Semester Exam (Individual) Objective(s): This addresses subject learning objective(s): 1, 2 and 3 Weight:

20%

Task:

The exam will be a multiple choice exam of one hour. It will assess all materials presented in Weeks 1 to 5.

Length:

The examination will be one hour (with no additional reading time)

Due:

The mid-semester examination (20% of final mark) will occur in the week beginning the 29th of March. The one hour mid-sem exam covers content from lecture 1 to lecture 5 and the associated tutorials. The exam is online multiple choices which can be taken over a two hour window. See Canvas for details.

Further Composite Mid-Semester Grade (Re-weighting): information: Students who do not attend the faculty based mid-session exam will have the weighting of that assessment added to the final examination conditional on the students submitting, receiving approval and complying with the requirements of special consideration in accordance with the UTS rules. If the composite mark for the final exam then totals more than 50 percent and the student is in the final subject of their degree, the UTS rules on borderline result (range of 45-49) shall apply whereby students will be allowed to undertake a supplementary final examination. Where a student completes and passes a supplementary examination, the maximum mark awarded for the subject will be 50 Pass. In addition to the information given above, guidelines, instructions and specific criteria for the assessments will be placed on Canvas in Week 6 at the latest. It is a requirement for this assessment item that all students review this information before attempting this assessment task. If there are any changes to the assessment details or any of the above information, perhaps due to unforeseen circumstances, they will be announced on Canvas. It is your responsibility to note any changes and stay informed.

Assessment task 3: Final Exam (Individual) Objective(s): This addresses subject learning objective(s): 1, 2 and 3 Weight:

50%

Task:

The final examination assures objectives 1, 2 and 3. The examination tests the student's ability to correctly identify and use statistical tools and to interpret output within related contexts. The exam tests the student's ability to be able to critically interpret statistics and business information. The final exam assures the Bachelor of Business learning goal that students should have well developed critical and analytical skills and be able to access and interpret statistics and business information. It will assess material from the entire semester.

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Length:

The format of the final examination, and its structure, will be announced on Canvas as the Covid-19 situation develops. It is anticipated that it will be AI invigilated.

Due:

UTS Exam period It is our hope to run the final examination during the exam period, with students attending in person, though as noted above the university is responding to the Covid-19 situation in such a way as to prioritize the health and safety of students. In the event that a normal exam environment prevails, we will make allowances for students in remote locations or otherwise affected by Covid-19. Further details will be provided as the semester unfolds, and we thank you for your patience in these unprecedented times. See also Further information.

Further Information on the specific requirements for Special Conditions, Scheduling Difficulties, Rescheduled Exams, information: Special Consideration and Special Exam procedures, as well as links to the relevant forms, is available on the Student Administration Unit website: http://www.sau.uts.edu.au/assessment/exams/central.html Otherwise, speak to the staff at the UTS Business School Student Centre. In addition to the information given above, guidelines, instructions and specific criteria for the assessments will be placed on Canvas at an appropriate time during the semester. It is a requirement for this assessment item that all students review this information before attempting this assessment task. If there are any changes to the assessment details or any of the above information, perhaps due to unforeseen circumstances, they will be announced in lectures and/or on Canvas. It is your responsibility to note any changes and stay informed.

Examination material or equipment In both the mid-semester and final examinations, students will be permitted to bring any written material to the examination room. This may include lecture notes, tutorial notes, text book(s), practice examinations or any other printed material relating to the subject. The students will not be able to bring any electronic devices other than their laptop. During their final exam, screen and browser activity will be recorded for any misconduct. Students are also permitted to bring a programmable or non-programmable calculator into their examinations.

Minimum requirements Students must achieve at least 50% of the subject’s total marks.

Required texts Lecture slides, tutorial notes and appendices provided by the instructors.

Recommended texts Black, K., Asafu-Adjaye, J., Burke, P., Khan, N., King, G., Perera, N., Papadimos, A., Sherwood, C., & Wasimi, S. (2019). Business analytics and statistics 1st Edition ISBN: 9780730363330 (Printed edition and Interactive Etext). NOTE: Students are advised to have a printed text rather than e-text only should they choose to purchase the book; because students are permitted to bring the printed text into the mid-session and final exams as they are both conducted as open book exams.

References The following may be useful to consider as additional texts to support your learning in this subject over and above the required text: Business Statistics: Australia New Zealand, 6th Edition, Selvanathan/Keller, Edition 6, ISBN: 978-0170237000 Learning Statistics and Excel in Tandem, Selvanathan/Selvanathan, Edition 4, ISBN 978-0170351089 Data Analysis and Decision Making, Albright/Winston/Zappe, Edition 4, ISBN 13: 978-0-538-47612-6

Other resources Calculators You are permitted to bring a programmable or non-programmable calculator to your examinations. It is advised that you download a copy of the user manual from the manufacturer's website and familiarise yourself with your calculator's various functions. In assessments both programmable and non-programmable calculators will be permitted, however, a scientific calculator is best advised U:PASS (UTS Peer Assisted Study Success) is a voluntary “study session” where you will be studying the subject with other students in a group. It is led by a student who has previously achieved a distinction or high distinction in the subject area, and who has a good WAM. Leaders will prepare activities for you to work on in groups based on the content you are learning in lectures and tutorials. It’s really relaxed, friendly, and informal. Because the leader is a student just like you, they understand what it’s like to study the subject and how to do well, and they can pass those tips along to you. Students also...