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IB121-15 Business Statistics

Academic year
20/21
Department
Warwick Business School
Level
Undergraduate Level 1
Module leader
Wenjuan Zhang
Credit value
15
Module duration
10 weeks
Assessment
Multiple
Study location
University of Warwick main campus, Coventry
Introductory description

The module provides a foundation for the term 2 module Business Analytics (IB122) and for both second and third year studies that utilise, develop and expand on this disciplinary area.

The ability to use and make sense of quantitative information is an essential skill for any student taking a business or management degree. Business statistics provides the student with a basic knowledge of probability and statistical concepts, including the ability to be critical of reported quantitative information, skills that are essential for other modules and careers in business.

There is an emphasis on solving real-world problems, using case material where appropriate, and mastering basic statistical tools. Students are encouraged to analyse data in a spreadsheet environment where possible.

Module web page

Module aims

The module provides a foundation for the term 2 module Business Analytics (IB122) and for both second and third year studies that utilise, develop and expand on this disciplinary area.

The ability to use and make sense of quantitative information is an essential skill for any student taking a business or management degree. Business statistics provides the student with a basic knowledge of probability and statistical concepts, including the ability to be critical of reported quantitative information, skills that are essential for other modules and careers in business.

There is an emphasis on solving real-world problems, using case material where appropriate, and mastering basic statistical tools. Students are encouraged to analyse data in a spreadsheet environment where possible.

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Business Statistics:
Introduction to statistical analysis and modelling, data presentation, descriptive statistics, basic probability concepts, introduction to probability distributions, sampling methods, confidence intervals, hypothesis testing, introduction to regression.

Learning outcomes

By the end of the module, students should be able to:

  • Have an understanding of the need for probability and statistical methods, and be aware of the strengths and limitations of these methods.
  • Be familiar with basic statistical concepts and specific techniques.
Indicative reading list

Oakshot, L (2016), "Essential Quantitative Methods: for Business, Management and Finance", 6th edition, Macmillan Education, UK. ISBN 9781137518552
Buglear, J (2012). Quantitative Methods for Business and Management, Pearson. ISBN: 978-2-273-73628-8
Morris, C and Thanassoulis, E (2007). Essential Maths: For Business and Management, Palgrave Macmillan. ISBN: 978-1403916105.
Rugg, G (2007). Using Statistics: A Gentle Introduction, Open University Press. ISBN: 978-0335222186.
Goldacre, B (2009). Bad Science, Harper-Perennial. ISBN: 978-0007284870
Levitt, S and Dubner, S (2009). Freakonomics: A Rogue Economist Explores the Hidden Side of Everything, Harper Perennial. ISBN: 978-0060731335.

Subject specific skills

Application of basic quantitative tools, awareness of limitations, basic Excel skills.

Transferable skills

Use basic (non-graphical) scientific calculators to solve a range of statistical problems
Use Excel for descriptive, graphical and summary statistical purposes
Demonstrate numeracy ability

Study time

Type Required
Lectures 5 sessions of 1 hour (3%)
Seminars 9 sessions of 1 hour (6%)
Online learning (scheduled sessions) 15 sessions of 1 hour (10%)
Private study 48 hours (32%)
Assessment 73 hours (49%)
Total 150 hours
Private study description

Private Study.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group D7
Weighting Study time
Class Test 2 5% 4 hours
Class Test 1 5% 4 hours
Online Assessment 90% 65 hours

Exam

~Platforms - AEP

Assessment group R
Weighting Study time
Online Assessment 100%

Exam

~Platforms - AEP

Feedback on assessment

Assessment markers comments uploaded to each student. Solutions to exam and markers comments put up on my.wbs.

Past exam papers for IB121

Post-requisite modules

If you pass this module, you can take:

  • IB220-15 Quantitative Methods for Resource Management
  • IB122-15 Business Analytics
  • EC204-30 Economics 2
  • EC205-15 Development Economics (Macroeconomics)

Courses

This module is Core optional for:

  • Year 1 of UGEA-RN21 Undergraduate German and Business Studies
  • Year 1 of UIPA-L8N1 Undergraduate Global Sustainable Development and Business

This module is Optional for:

  • Year 1 of UCSA-GN51 Undergraduate Computer and Business Studies