MONASH UNIVERSITY 
ETC1000: Business and economic statistics 
* Final Examination Guide and Notes 2024 
 
- Part A: Topic Summary and Exam Tips 
- Part B: Practice Exam Questions and Answers 
- Part C: Sample Final Examination Paper 
- Part D: Suggested Solutions to Final Exam Paper 
 
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Monash Uni - ETC1000: Business and Economic Statistics (Solutions)

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ACADEMIC YEAR 2023 - 2024

University	Monash University
Study Level	Undergraduate
Unit Code	ETC1000
Unit Name	Business and economic statistics
Notes Title	Final Examination Guide and Notes
Page Length	58

* Prepare for the exam with the most complete study guide available for the ETC1000: Business and Economic Statistics - at Monash University; including exam-style questions, and advice on common examination pitfalls. These notes provide support for learning and revision throughout the unit. This self-study set has been thoroughly updated to cover all the topics contained in the latest edition of the exam. The key skills are demonstrated in the context of the core topics of study with expertly written example sets of notes, followed by opportunities to learn and test your knowledge with the sample exam paper and answer key. This guide will help you to take the final exam with complete confidence. Get yours today!

- Presentation and analysis of grouped & ungrouped data using tables, charts and measures of location and dispersion; standardisation techniques, including index numbers, with application to share price indices and the CPI; analysis of relationships between variables using simple and multiple regression; extensions to multiple regression, including nonlinear and categorical explanatory variables and time series data with applications to forecasting; main ideas of probability theory as a foundation for statistical inference; concept of sampling as a way of capturing uncertainty about data; estimators and their properties; constructing and interpreting confidence intervals; fundamentals of hypothesis testing, testing hypotheses about the mean, difference between means and the slope, including analysis of variance.

✔ Learning Outcomes:

Interpret business and economic data using tables, charts, and descriptive statistics techniques, applying standardisation techniques where appropriate
Describe the concept of a sampling distribution, estimators, and their properties
Make inference on single and multiple population means, difference between means, and the slope for business and economic decision-making
Interpret and evaluate relationships between variables for business and economic decision-making using simple and multiple linear regression
Apply the main ideas of probability theory to business and economic decision-making

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Monash Uni - ETC1000: Business and Economic Statistics (Solutions)

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