UNIVERSITY OF WOLLONGONG 
COMM121 - Statistics for Business 
Final Examination Guide and Notes 2025 
 
Part 01. Topic Summary and Exam Tips 
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 - COMM121: Statistics for Business (Solutions)

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ACADEMIC YEAR 2024 - 2025

University	University of Wollongong
Study Level	Undergraduate
Subject Code	COMM121
Subject Name	Statistics for Business
Notes Title	Final Examination Guide and Notes
Page Length	60

This COMM121 exam guide is a vital resource for University of Wollongong students seeking to excel in Statistics for Business. The guide is tailored to address the challenges faced by students in preparing for the final exam within a short time, covering all examinable topics and providing revision notes, sample papers, working solutions, and helpful hints. Its comprehensive approach enables students to practice and test their understanding of statistical concepts while avoiding common errors during exams and achieving better grades. Additionally, the guide's materials are reviewed and aligned with learning objectives, providing students with the necessary skills and knowledge to succeed. Access these updated study resources today to ace the unit while reinforcing your understanding.

The aim of the subject, Statistics for Business (COMM121) - 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.

✔ 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 a non-technical way for a range of situations including business and commerce;
use and interpret appropriate output from statistical computer packages, particularly Excel; and,
evaluate the role played by statistics in empirical research and business practices in the workplace.

SUBJECT CODE	SUBJECT NAME
ACCY111	Accounting Fundamentals in Society
ACCY112	Accounting in Organisations
ACCY200	Financial Accounting IIA
ACCY211	Management Accounting II
COMM121	Statistics for Business
ECON100	Economic Essentials for Business
ECON205	Macroeconomic Theory and Policy
ECON215	Microeconomic Theory and Policy
FIN111	Introductory Principles of Finance
FIN222	Corporate Finance
FIN223	Investment Analysis
FIN226	Financial Markets and Institutions
FIN322	Advanced Corporate Finance
FIN323	Portfolio Analysis
LAW101	Introduction to Law
LAW315	Taxation 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 - COMM121: Statistics for Business (Solutions)

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