STAT20029 - Statistics for Managerial Decisions

General Information

Unit Synopsis

In this unit you will examine statistics, with particular focus on applications to managerial decision making. You will use statistics techniques to make informed decisions in uncertain environments within the fields of business and accounting. You will analyse and interpret data, trends and patterns as well as make inferences and use probability theory to estimate risks. Other important topics of this unit include probability and forecasting.

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

Anti-requisite: STAT20028.

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).

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Residential School No Residential School

Unit Availabilities from Term 3 - 2024

Term 3 - 2024 Profile
Online
Term 1 - 2025 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2025 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2025 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 - 2024 : The overall satisfaction for students in the last offering of this course was 92.54% (`Agree` and `Strongly Agree` responses), based on a 65.05% 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: Unit Coordinator reflection
Feedback
Lecture materials will continue to be streamlined for improved clarity of the unit concepts
Recommendation
Include revision quizzes so that the students are clear with the concepts
Action Taken
Students were given practice questions in the workshops to aid understanding of unit concepts. This seemed to assist students who previously struggled in some assessments, as the number of failing students has decreased.
Source: Unit Coordinator reflection
Feedback
Assessment 2 requires use of Microsoft Excel calculations and graphs, but some students struggle with Microsoft Excel
Recommendation
Increase the practical use of Microsoft Excel in tutorials, with more examples related to assessment
Action Taken
Students had additional practice with Microsoft Excel during tutorials. There were improvements to marks noted in assessments using Excel.
Source: Teaching team, Discipline Leader
Feedback
There is a small number of quiz questions which means there is limited opportunity for students to practice the same concepts across multiple questions.
Recommendation
Increase number of questions in question bank, especially adding variants (e.g., different case study or data set) for each concept covered.
Action Taken
In Progress
Source: Teaching team, Discipline Leader
Feedback
While students are able to perform the necessary statistical calculations, some students find it difficult to develop an intuitive understanding of the concepts based on the calculations.
Recommendation
Create resources that allow students to visualise the operation of statistical methods on different data sets.
Action Taken
In Progress
Unit learning Outcomes

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

  1. Analyse and work with data in a statistical framework
  2. Interpret data to make informed decisions
  3. Estimate the probabilities of various scenarios using statistics techniques
  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
• Professional Level
• Advanced 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
• Professional Level
• Advanced Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Online Quiz(zes) • • •
2 - Written Assessment • • • • • • •
3 - Examination • • •