University of Wollongong - STAT101: Introduction to Statistics (Solutions)

The purpose of this subject is to enable students to comprehend and use basic statistical tools and concepts to analyse variation and uncertainty, which occur in most aspects of life. Topics covered include displaying variation and summarising univariate data, displaying and analysing bivariate data including association, correlation and simple regression, introducing probability theory including Bayes' rule, law of total probability, introducing random variables, discrete random variables (including binomial and geometric) and continuous random variables (including uniform and Normal); sampling distributions, point and interval estimation and an introduction to hypothesis testing. These topics will be taught with appropriate statistical computing software and communication in both written and oral forms will be developed.

✔ Learning Outcomes:

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

• Understand and produce with appropriate statistical software numerical and graphical data summaries and critically use them as exploratory tools with univariate data;

• Understand the basics of probability theory, including Bayes' rule and the law of total probability;

• Understand and use probabilistic concepts and graphical tools to form and examine statistical models, especially the Binomial, Geometric, Uniform and Normal Distributions;

• Understand the relationship between samples and populations and the principles of statistical inference: Bayes' rule, point and interval estimation of population parameters, hypothesis testing;

• Communicate statistical findings conveying both statistical and simple English interpretations.

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