# Statistics for Business and Management

Module title Statistics for Business and Management BEE1025 2023/4 15 Mr Stephane Hlaimi ()
 Duration: Term Duration: Weeks 1 2 3 11
 Number students taking module (anticipated) 300

## 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, 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). Please also note that this module is not available to Maths students.

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).

## Module aims - intentions of the module

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.

## Intended Learning Outcomes (ILOs)

### ILO: Module-specific skills

On successfully completing the module you will be able to...

• 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. compute and interpret a variety of non-parametric methods of inference.

### ILO: Discipline-specific skills

On successfully completing the module you will be able to...

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

### ILO: Personal and key skills

On successfully completing the module you will be able to...

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

## Syllabus plan

•  An Introduction to Statistics
•  Descriptive Statistics
•  Introduction to Probability
•  Discrete Probability Distributions
•  Continuous Probability Distributions
•  Sampling and Sampling Distributions
•  Interval Estimation
•  Statistical Inference

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

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
321180

## Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activity20Lectures
Scheduled Learning and Teaching Activity10Tutorials
Scheduled Learning and Teaching Activity2Revision Lectures
Guided Independent Study68Exam and Assignment preparation
Guided Independent Study 10 Homework tasks
Guided Independent Study 40Preparation for and revision of lectures

## Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Weekly tutorial exercises50 minutes1-7In class

## 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
Midterm examination2050 minutes1-7Final grade; Exam solutions will be posted on ELE
Examination in May802 hours1-7Final grade; Exam solutions will be posted on ELE

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

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Midterm examination (20%)Midterm examination (50 minutes, 20%)1-7August/September Reassessment Period
Examination in May (80%)Examination (2 hours, 80%)1-7August/September Reassessment Period

## 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.

Credit value 15 7.5 None Cannot be taken with BEE1022 Introduction to Statistics, BEA1012 Introduction to Statistics for Accountants or BEM1024 Statistics for Business. Please note that this module is also not available to Maths students. 4 No 01/09/2008 20/09/2023