MODULE SPECIFICATION UNDERGRADUATE PROGRAMMES KEY FACTS. Module name Business Statistics 2

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1 MODULE SPECIFICATION UNDERGRADUATE PROGRAMMES KEY FACTS Module name Business Statistics 2 Module code BS2102 School Cass Business School Department or equivalent UG Programme UK credits 15 ECTS 7.5 Level 5 Delivery location (partnership programmes only) MODULE SUMMARY Module outline and aims The purpose of this module is to build on the statistical foundations laid in year 1, either by the Financial Mathematics and Business Statistics module, or the Business Statistics 1 module according to which degree course is being taken. Because this module opens with a review of basic statistics, it is structured in a way that should follow logically from either of the prerequisite modules. This module sets out to develop and extend your ability to be aware of and to use statistical techniques to investigate and interpret statistical data, and to take a critical and independent view of the methods used, and the conclusions reached, by others. The aim of this module is:- - To introduce more advanced statistical tools. - To show how statistics can be used to investigate data and develop models to explain and predict variables. Content outline - Review of basic statistics - Confidence intervals - Hypothesis testing - Goodness of fit - Analysis of variance - Simple linear regression and covariance - Multiple linear regression; categorical variables

2 - Time series: trend and seasonal variation; index numbers; exponential smoothing. Pre-requisite Modules BS1003 Financial Mathematics & Business Statistics WHAT WILL I BE EXPECTED TO ACHIEVE? On successful completion of this module, you will be expected to be able to: Knowledge and understanding: - Demonstrate knowledge of the normal and binomial distributions and understanding of their significance - Demonstrate understanding of the concepts of: a random variable, a distribution, a statistical model, a parameter, a fitted value and a residual - Demonstrate understanding of the sum of squares as a tool for assessing the adequacy of a model - Demonstrate understanding of the principles of hypothesis testing and confidence intervals - Demonstrate understanding of the significance of ANOVA tables - Demonstrate understanding of the significance of regression models Skills: - Calculate summary statistics, fitted values and residuals - Interpret the output from standard computer packages to draw statistical conclusions - Use information from a computer package such as Excel or Minitab to analyse a data set and develop models - Use statistical tables to calculate probabilities and find critical values - Write a report outlining statistical findings, using output from a computer package to illustrate the reports conclusions - Construct and interpret ANOVA tables Values and attitudes: - Be willing to make judgments using statistical evidence - Be aware of the significance of statistical variability in relation to the interpretation of data and the confidence with which conclusions can be reached

3 - Be aware of limitations of methods and results - Be aware that the validity of statistical conclusions depends in the appropriateness of the techniques used, and the skill and independent judgment with which techniques are selected and used and conclusions drawn HOW WILL I LEARN? All concepts are introduced in lectures and illustrated with examples. You will be given guidance during tutorials when you practise using the concepts to arrive at results. Teaching pattern: Teaching component Teaching type Contact Selfdirected study Placement Classes Tutorial Lectures Lecture Totals WHAT TYPES OF ASSESSMENT AND FEEDBACK CAN I EXPECT? Assessments Total student learning Two invigilated coursework tests involving short qualitative and quantitative questions. Exam with a choice of questions including a mixture of quantitative and qualitative elements. Assessment pattern: Assessment component Coursework Test 1 Coursework Test 2 Exam 2.25 Assessment type Weighting Minimum qualifying mark Set Exercise N/A Set Exercise N/A Written Exam N/A Pass/Fail?

4 Assessment criteria Assessment Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate in order to complete an assessment successfully and Grade-Related Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate to achieve a certain grade or mark in an assessment. Assessment Criteria and Grade-Related Criteria for module assessments will be made available to students prior to an assessment taking place. More information will be available from the module leader. Feedback on assessment Following an assessment, students will be given their marks and feedback in line with the Assessment Regulations and Policy. Following each of the tests, marked scripts will be returned to students, feedback notes will be provided on Moodle, verbal feedback will be given in a lecture when the test has been marked and student s individual queries will be answered in person and by . Following the examination, written feedback will be given. For students who have to take the resit examination, the method of providing feedback may depend on the number of students who have to take it. If the number is large, feedback will be provided in a lecture, in which students will be told about how they did well or poorly in the first sit exam, with opportunities also to raise individual queries. If the number is smaller, the feedback session will be less formal, but with the same content and objectives. Assessment Regulations The Pass mark for the module is 40%. Any minimum qualifying marks for specific assessments are listed in the table above. The weighting of the different components can also be found above. The Programme Specification contains information on what happens if you fail an assessment component or the module. INDICATIVE READING LIST Amir D. Aczel Complete Business Statistics (7th ed), McGraw Hill Previous editions are perfectly acceptable. The module is also supported by printed notes from the lecturer. Version: 2.0 Version date: July 2013 For use from:

5 Appendix: see for the full list of JACS codes and descriptions CODES HESA Code Description Price Group 27 Business and D Management Studies JACS Code Description Percentage (%) G300 The study of the collection 80 and analysis of numerical data. N100 The study of organisations and the environment in which they operate. 20