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Statistics for Business

It is widely recognised that statistics has an essential part to play in planning, control and communication within an enterprise. This Unit will focus on the underpinning knowledge and skills required to use basic statistical and graphical techniques to assist with these management functions and your ability to address business problems.

Outcome 1 will enable you to develop an understanding of statistical terms, source relevant published statistical data and demonstrate statistical techniques associated with collecting your own data for business purposes. Outcome 2 builds on these skills by allowing you to analyse, present and interpret data to assist with improving business effectiveness and efficiency. Outcome 3 will enable you to develop and demonstrate an understanding of relationships that may exist between data to assist you with business planning and control activities.

The skills required in this Unit underpin the vocational relevance of your course and use a mixture of assessment instruments. These will build on your skills for researching, evaluating and interpreting data and communicating information within the vocational area.

Specifically, the Unit will be assessed by three instruments of assessment. A closed-book test, covering Outcome 1, and two open-book tests, completed in class, using appropriate calculation aids and IT software that cover all of Outcomes 2 and 3.