Business Statistics (QBM117) - Charles Sturt University

QBM117 - Business Statistics is a subject that aims to equip students with the knowledge and skills to use statistics effectively in the media and business environments. Upon successful completion of the subject, students will be able to judge the appropriateness of statistical methodology and conclusions drawn from data. Additionally, they will be able to summarise and interpret data graphically and numerically, calculate and interpret probabilities, and use standard probability distributions. Students will also be able to apply statistical inference to confidence intervals and tests of hypotheses, use statistical packages to analyse data appropriately, and evaluate assumptions underlying statistical techniques.

The syllabus covers a wide range of topics, starting with descriptive statistics and probability, moving on to random variables and sampling distributions. Students will learn to apply various sampling strategies and the distribution of sample means and proportions. The subject also covers inference based on a single sample, including the use of confidence intervals and hypothesis tests. Lastly, students will learn about simple linear regression and correlation, including estimating the intercept and slope of the least squares line and interpreting the coefficient of determination (R squared) and correlation. The subject also covers basic principles of survey design, such as determining appropriate sample sizes and sampling techniques.