Business Statistics

Subject Code:

STA101

Subject Aim:

The aim of the subject is to provide you with the basic statistical tools required to analyse data encountered in a wide range of managerial situations and make effective decisions based on this data. This subject focuses on ‘statistics for managers’ for use in everyday life.

Learning Outcomes:

  1. Explain statistics and how they lead to better business decisions.
  2. Analyse different types of data, apply appropriate statistical techniques to summarise information usefully and informatively.
  3. Understand the concepts of probability distributions and random variables then apply these concepts to real life situations from the service industries and evaluate the conclusions.
  4. Calculate and interpret various relevant statistics from a sample and make inferences with regard to the population they represent.
  5. Test hypothesis regarding populations by analysing sample information and draw conclusions regarding the underlying population.

Student Assessment: