In order to make the right decisions as a business manager it is vital you have a basic understanding of statistical practice and how it is applied in a business situation. This subject provides a broad introduction to statistical concepts and techniques for data analysis. It aims to demystify the subject; training you to organise, analyse and make sense of data in the workplace and in everyday life.
In this subject we will develop new insights and understanding by being able to extract and summarise information from the rich data sets readily available in today’s business environment. This includes interpretation of statistics and business data, identification of useful models of both the operations and the environment of a business; and responding appropriately as managers to quantitative information and quantitative models to make better business decisions.
a) Interpret statistics to make better business decisions.
b) Interpret data graphically and numerically.
c) Collect representative samples of populations.
d) Draw conclusions about populations with statistical tests.