ETC1000 Business and Economics Statistics


Difficulty:

Year Completed: Semester 1, 2022

Prerequisite: N/A

 

Exemption:

CS1 Actuarial Statistics

ETC1000 (25%), ETC2420 (25%), ETC2520 (35%), ETC3580 (15%)

CM1 Actuarial Mathematics

ETC1000 (10%), ETC2430 (35%), ETC3530 (55%)

Weighted average of 70% required. Minimum of 60% required

for each unit.


Mean Setu Score: 81.08%

 

Clarity of Learning Outcomes: 81.46%

Clarity of Assessments: 80.68%

Feedback: 74.75%

Resources: 82.04%

Engagement: 86.47%

Satisfaction: 81.07%


Subject Content:

Lecture(s) and Tutorial(s):

Textbook(s):

Assessments:

 

This unit is quite fun and easy to understand. The topics covered

in this unit are data analysis, data visualisation, hypothesis

testing, probability distributions, linear regression models, and

using models to predict and forecast.

 

(Varies) Lecture

1 x 2 hour tutorial

 

Business Analytics – Third Edition; Jeffery D Camm

 

Submitted Tutorial Quiz: 20% (8 classes, x 2.5% per class)

Group Project and Presentation: 20%

Final Exam: 60%


Comments

This unit provides a comprehensive explanation of the basics of

business analytics and using excel to analyse and extrapolate

from data. The concepts are simple in nature and are supported

with examples in the notes, along with step-by-step instructions

on how to replicate the analysis in excel on your own. The

assessments throughout the semester are not difficult but require

consistency. To do well in the final however, a very in-depth and

strong understanding of the content is required. The final exam

will not ask you to create a regression – but will instead ask what

the data analysis means and whether it was effective.

 

This unit provides a comprehensive explanation of the basics of

business analytics and using excel to analyse and extrapolate

from data. The concepts are simple in nature and are supported

with examples in the notes, along with step-by-step instructions

on how to replicate the analysis in excel on your own. The

assessments throughout the semester are not difficult but require

consistency. To do well in the final however, a very in-depth and

strong understanding of the content is required. The final exam

will not ask you to create a regression – but will instead ask what

the data analysis means and whether it was effective.

 

The tutorials started in week 1 and are 2 hours long, most weeks

you will finish early. There is a class quiz and a group quiz. The

class quiz is done as a class and all solutions are explained by the

tutor. Then there is a separate component – being the group quiz.

This can be completed in groups. The solutions to the quizzes are

released in the Moodle in the following week. The difficulty of

these quizzes will vary from week to week.

Submitted Tutorial Quiz: 20% (8 classes, x 2.5% per class)

-        Quite straightforward

-        Important to do practice questions and watch lecture

before hand

Group Project and Presentation: 20%

-        Simple – not too complicated

-        Is quite explicitly mentioned in the task outline what is

expected from the presentation

-        Is important to evenly split up group work as it can become

overwhelming

Final Exam (60%)

-        Covers whole unit content

-        A mix of Multiple choice and short answer questions

-        Is much harder in difficulty than the mid-sem

-        Attempting all past papers will be beneficial, and the final is

very different to in class quizzes

The final exam is the only exam in this unit. It is 2hrs and 10 min in

length. A calculator and 2 sheets of blank paper are permitted.

The exam evenly covers the content of the whole unit. The

questions are of greater difficulty than the weekly tutorial

questions. So, attempting all the past papers would be beneficial,

as they are a better indication of what the final exam will be like.

The exam is a bit tight for time, so focus on time management in

your preparation.

Overall this unit provides a great foundation for future units.

Attendance in tutorials is very important. The final exam is very

different from the tutorials - so attempt the past papers well in

advance for the best outcome.

General Overview:

Lectures:

Tutorials:

Assessments/Other Assessments

Exams

Concluding Remarks