IB149-15 Introduction to Statistics
Introductory description
This module is only open to WBS undergraduate students, and some students taking joint degrees with WBS and another department. Students from other departments cannot take this module. To find detailed availability and to apply for this module, log in to my.wbs.ac.uk using your normal IT login details and apply via the my.wbs module application system. Once you’ve secured a place on my.wbs you should apply via your home department’s usual process, which usually takes place via eVision. Note that you do not require the module leader’s permission to study a WBS module, so please do not contact them to request it.
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 able to carry out analysis of data as well as be critical of reported quantitative information. These skills 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.
- Be familiar with basic statistical concepts and specific techniques.
- Have problem solving skills.
- Have critical and logical thinking.
Indicative reading list
Siegel, A (2016), Practical business statistics, 7th edition, Academic Press. ISBN 9780128042502
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.
Salkin, N J (2017), Statistics for people who (think they) hate statistics, 6th edition, SAGE. ISBN 9781506361161
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 | 10 sessions of 1 hour (7%) |
| Seminars | 9 sessions of 1 hour (6%) |
| Online learning (independent) | 10 sessions of 1 hour (7%) |
| Private study | 48 hours (32%) |
| Assessment | 74 hours (49%) |
| Total | 151 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 D2
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| Individual Assignment | 10% | 8 hours | No |
|
500 words plus use of Excel. |
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| Participation | 10% | 8 hours | No |
| In-person Examination | 80% | 58 hours | No |
|
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Assessment group R2
| Weighting | Study time | Eligible for self-certification | |
|---|---|---|---|
| In-person Examination | 100% | No | |
|
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Feedback on assessment
Feedback will be provided via my.wbs.
Post-requisite modules
If you pass this module, you can take:
- IB3M5-15 Advanced Analysis for Marketing Decisions
- IB122-15 Business Analytics
Courses
This module is Core for:
- Year 1 of UIBA-N400 Undergraduate Accounting and Finance
- Year 2 of UIBA-N403 Undergraduate Accounting and Finance (with Foundation Year)
-
UIBA-N401 Undergraduate Accounting and Finance (with Placement Year/Undergraduate Partnership Programme)
- Year 1 of N401 Accounting and Finance (Placement)
- Year 1 of N402 Accounting and Finance (Undergraduate Partnership Programme)