Statistics for Business and Management
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 and hypothesis testing.
Please note that this module cannot be taken with Introduction to Statistics (BEE1022), Introduction to Statistics for Accountants (BEA1012) or Statistics for Business (BEM1024).
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.
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.
All of the lecture notes and tutorial sets are available on the ELE (Exeter Learning Environment).
[PLEASE NOTE THIS MODULE IS NOT AVAILABLE TO MATHS STUDENTS]
Full module specification
|Module title:||Statistics for Business and Management|
Cannot be taken with BEE1022 Introduction to Statistics, BEA1012 Introduction to Statistics for Accountants or BEM1024 Statistics for Business
|Duration of module:||
Duration (weeks) - term 2: |
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 Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning and Teaching Activity||20||Lectures|
|Scheduled Learning and Teaching Activity||10||Tutorials|
|Scheduled Learning and Teaching Activity||2||Revision Lectures|
|Guided Independent Study||68||Exam and Assignment preparation|
|Guided Independent Study||10||Homework tasks|
|Guided Independent Study||40||Preparation for and revision of lectures|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Weekly tutorial exercises||50 minutes||1-8||In class|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Midterm examination||20||60 minutes||1-3, 5-8||Final grade; Exam solutions will be posted on ELE|
|Examination in May||70||90 minutes||1-3, 5-8||Final grade; Exam solutions will be posted on ELE|
|Homework tasks||10||20-30 minutes||1-3, 5-7||On ELE|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Midterm examination (20%), Examination in May (70%) & Homework Tasks (10%)||Examination (100%) 2 hours||1-3, 5-8||August/September Reassessment Period|
- 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
- Tests of Goodness of Fit and Independence
- Main Non-parametric Methods of Inference
Indicative learning resources - Basic reading
Basic reading: The main text is:
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.
Students will also find useful the material in:
Barrow, M. (2006) Statistics for Economics, Accounting & Business Studies, 4th edition, London: Financial Times Prentice Hall.
Module has an active ELE page?
Last revision date