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STAT20029 - Statistics for Managerial Decisions

General Information

Unit Synopsis

This unit will examine statistics, with particular focus on applications to managerial decision making. It aims to equip students in the field of business and accounting with the statistical tools needed to make informed decisions in uncertain environments. Concepts and practical tools on how to interpret data, trends and patterns as well as estimation of risks and probabilities and, making inferences will be coverd. Topics include exploratory data analysis, probability, statistical inference and forecasting. If you have successfully completed the unit STAT20028 you should not enrol in this unit.

Details

Level Postgraduate
Unit Level 8
Credit Points 6
Student Contribution Band SCA Band 1
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the unit.

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2016

Term 1 - 2017 Profile
Brisbane
Distance
Melbourne
Sydney
Term 2 - 2017 Profile
Brisbane
Distance
Melbourne
Sydney
Term 3 - 2017 Profile
Brisbane
Distance
Melbourne
Sydney
Term 1 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 2 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 3 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 1 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2020 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2020 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2020 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 1 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2022 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2022 Profile
Brisbane
Melbourne
Online
Sydney

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Online Quiz(zes) 20%
2. Written Assessment 20%
3. Examination 60%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University’s Grades and Results Policy for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2021 : The overall satisfaction for students in the last offering of this course was 4.8 (on a 5 point Likert scale), based on a 45.45% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Source: Student unit and teaching evaluation
Feedback
Students appreciated the teaching team and the challenging nature of statistics.
Recommendation
Continue to foster the current learning and teaching environment.
Action Taken
The teaching team continued to support students in-class and outside of class, especially with solving practice problems.
Source: Unit Coordinator reflections and student feedback
Feedback
The quizzes and exam are difficult if students have not practised similar style questions.
Recommendation
Add more tutorial questions and inform students of the importance of practice in preparing for quizzes and exam.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Analyze and work with data in a statistical framework
  2. Interpret data to gather more information about the process
  3. Estimate the probabilities of various scenarios and possibilities using popular tools
  4. Make statistical inferences based on sample observations
  5. Capture trends and make future projections
  6. Compare the implications of alternative strategies in terms of risks and expectations

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5 6
1 - Online Quiz(zes)
2 - Written Assessment
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Advanced Level
Professional Level
Graduate Attributes Learning Outcomes
1 2 3 4 5 6
1 - Knowledge
2 - Communication
3 - Cognitive, technical and creative skills
4 - Research
5 - Self-management
6 - Ethical and Professional Responsibility
7 - Leadership
Alignment of Assessment Tasks to Graduate Attributes
Advanced Level
Professional Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Online Quiz(zes)
2 - Written Assessment
3 - Examination