UNIVERSITY OF WOLLONGONG 
BUS 121: Statistics for Business 
Final Examination Guide and Notes 2026 
 
- Part 01: Revision Notes 
- Part 02: Practice Exam Questions and Answers 
- Part 03: Sample Final Examination Paper 
- Part 04: Suggested Solutions to Final Exam Paper 
 
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University of Wollongong - BUS 121: Statistics for Business (Solutions)

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ACADEMIC YEAR 2025 - 2026

University	University of Wollongong
Study Level	Undergraduate
Subject Code	BUS 121
Subject Name	Statistics for Business
Notes Title	Final Examination Guide and Notes
Page Length	61

If you are studying BUS 121: Statistics for Business at the University of Wollongong, this complete guide keeps your revision focused and simple. It covers every examinable topic and explains key concepts in clear, simple language. It also explains how the final exam is organised and marked, and shows you the main question styles to expect. Inside, you’ll find exam-style questions with step-by-step solutions, straightforward explanations, and final-exam hints and tips, plus practical guidance on format, key marking points, timing, and model solutions to help you check your work.

The aim of the subject is to introduce students to quantitative techniques and their application to the business world with an emphasis on the decision-making process. The main focus of the subject is business statistics and topics will include descriptive statistics, probability, sampling, confidence intervals, hypothesis testing, elementary correlation, regression analysis and time series forecasting. Students are also introduced to the use of computer programs for estimation and analysis to improve business decision-making.

✔ Learning Outcomes:

On successful completion of this subject, students will be able to:

Explain and demonstrate the basic concepts of probability and statistics.
Demonstrate in substantial depth the statistical techniques that are commonly used in the business world.
Apply statistical techniques to improve analysis and planning of the business decision-making process.
Interpret and explain solutions in non-technical way for a range of situations including business and commerce.
Use and interpret appropriate output from statistical computer packages, particularly Excel.
Evaluate the role played by statistics in empirical research and business practices in the workplace.

SUBJECT CODE	SUBJECT NAME
ACCY111	Accounting Fundamentals in Society
ACCY121	Accounting for Decision Making
ACCY200	Financial Accounting
ACCY201	Advanced Financial Accounting
ACCY211	Management Accounting
BUS 121	Statistics for Business
ECON100	Economic Essentials for Business
ECON205	Macroeconomic Theory and Policy
ECON215	Microeconomic Theory and Policy
ECON339	Applied Economic and Financial Modelling
FIN 111	Introductory Principles of Finance
FIN 222	Corporate Finance
FIN 223	Investment Analysis
FIN 226	Financial Markets and Institutions
FIN 322	Advanced Corporate Finance
LAW 101	Introduction to Law
MARK101	Marketing Principles
MGNT201	Organisational Behaviour
STAT101	Introduction to Statistics
STAT201	Random Variables and Estimation
STAT251	Fundamentals of Biostatistics
STAT332	Generalised Linear Models

University of Wollongong - BUS 121: Statistics for Business (Solutions)

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