Statistics for Business and Management

Module description

Summary:

This course will familiarize students with the rudiments of statistics. Students will learn basic concepts of probability and statistical inference, focusing on an intuitive approach to understanding concepts and methodologies. Students will be introduced to statistical and critical thinking, including descriptive statistics, probability, sampling distributions, interval estimation, hypothesis testing and regression analysis.

Please note that this module cannot be taken with Introduction to Statistics (BEE1022).

Additional Information:

Internationalisation

The content of this module is universal and applicable around the world. It includes international examples with real statistical data from countries such as China, India, Europe and the UK.

Employability

Knowledge of statistics is essential for any business or economics student, so this module provides students with a valuable theoretical and practical understanding of the subject, as well as weekly assignments that enable them to work consistently with continuity and discipline.

Sustainability

All of the lecture notes and tutorial sets are available on the ELE (Exeter Learning Environment).

Full module specification

Module title:Statistics for Business and Management
Module code:BEE1025
Module level:1
Academic year:2016/7
Module lecturers:
  • Professor Carlos Cortinhas -
Module credit:15
ECTS value:

7.5

Pre-requisites:

None

Co-requisites:

Cannot be taken with BEE1022 Introduction to Statistics

Duration of module: Duration (weeks) - term 2:

11

Module aims

The module aims to provide students with an understanding of the role of statistical methodologies in the business and management environment through both theoretical input and extensive hands-on practice, using the Excel and Minitab software with a variety of data types and statistical models.

ILO: Module-specific skills

  • 1. construct charts and calculate appropriate descriptive statistics to summarise a data set
  • 2. solve a range of problems involving probability
  • 3. compute and interpret the results of hypothesis testing
  • 4. demonstrate the ability to utilise a software package (Excel and Minitab) for a range of statistical applications
  • 5. compute and interpret a variety of non-parametric methods of inference

ILO: Discipline-specific skills

  • 6. demonstrate awareness of the role of numerical evidence in the business and management environment

ILO: Personal and key skills

  • 7. demonstrate quantitative, computational and computer literacy skills
  • 8. demonstrate written communication skills

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
271230

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Contact hours20Lectures
Contact hours5Tutorials
Contact hours2Revision Lectures

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Bi-weekly tutorial exercises50 minutes6 & 7ELE
Weekly Homework (online)20 minutes2,3,5,6,7ELE
Weekly multi choice quizzes (online)10 minutes2,3,5,6,7ELE

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
01000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Examination902 hours1-3,5,6,7,8Final grade; Exam solutions will be posted on ELE
Average of 10 weekly homework tasks in tutorials1020-30 minutes4,7ELE
0
0
0
0
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Examination and weekly homeworkExamination (100%) 2 hours1-8August examination period

Syllabus plan

• An Introduction to Statistics
• Descriptive Statistics: Tabular and Graphical Methods
• Descriptive Statistics: Numerical Methods
• Introduction to Probability
• Discrete Probability Distributions
• Continuous Probability Distributions
• Sampling and Sampling Distributions
• Interval Estimation
• Hypothesis Tests
• Statistical Inference about Means and Proportions with two Populations
• Inference about Population Variances
• Tests of Goodness of Fit and Independence
• Analysis of Variance and Experimental Design
• Main Non-parametric Methods of Inference
• Revision

Indicative learning resources - Basic reading

Basic reading: The main text is:


Cortinhas, C. and Black, K. (2012), Statistics for Business and Economic, 1st European Edition, Chichester: John Wiley and Sons, Ltd. ISBN: 978-1-119-99366-7.

Students will also find useful the material in:

Anderson, D., Sweeney, D., Williams, T., Freeman, J. and E. Shoesmith (2010) ‘Statistics for Business and Economics’, second edition, University of Exeter Customized Edition, Cengage Learning, Andover, Hampshire, ISBN: 978-1-4080-3616-7.

Barrow, M. (2006) Statistics for Economics, Accounting & Business Studies, 4th edition, London: Financial Times Prentice Hall.

Module has an active ELE page?

Yes

Origin date

01/09/2008

Last revision date

18/08/2016