Unit Outline

BEA140 Data Analysis for Business is a foundation unit in business statistics and the mathematics of finance, and is a core unit in the Bachelor of Economics (BEc) and Bachelor of Business (BBus) degrees. It is also a nominated elective in a wide range of other programs throughout the University of Tasmania.

This unit is intended to provide a background capacity in mathematics of finance and statistical description and analysis, appropriate for a business student. The unit also includes an introduction to the basic use of tools such as Excel as an aid to analysis and presentation. The focus of the unit is on the practical use of data in business and economic decision environments, especially in an environment of risk and uncertainty.

The unit is an introduction to the exciting world of applying mathematics and statistics to business problems. By studying a variety of examples based on real world problems, the unit highlights the application of quantitative methodologies to assist managers, and decision makers, in dimensioning and communicating risks and opportunities.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Apply basic concepts of time valuation of money to common situations in business/personal finance
2.	Inform and communicate evidence-based decisions using data description and probability concepts
3.	Draw conclusions and communicate properties about sample populations
4.	Quantify an association between two variables, explain variation and improve outcome prediction.

Requisites


REQUISITE TYPE	REQUISITES
Anti-requisite (mutual excl)	XPD105

Alterations as a result of student feedback

To Be Determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Assignment	Week 7	30 %	LO1, LO2, LO3, LO4
Assessment Task 2:	Online Test	Week 10	32 %	LO1, LO2, LO3
Assessment Task 3:	Online Skill Checks	Refer to Assessment Description	18 %	LO1, LO4
Assessment Task 4:	Examination	Exam Period	20 %	LO2, LO3, LO4

Assessment details

Assessment Task 1: Assignment

Task Description:

The assignment will consist of preparing answers to a variety of problems, with workings and procedures shown, and for which part marks may be awarded for incorrect answers. The assignment is an individual assignment, and MAY NOT be submitted by teams.
The assignment relates to Module 1 and Module 2 of the unit.
The assignment has several stages, with students required to submit answers at two milestones along the way, in addition to the assignment paper by the due date.
Multiple attempts without penalty are allowed for the milestones. (More information to be provided on MyLO.)

Task Length:

Approximately 6 - 7 multipart questions.

Due Date:

Week 7

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply methodology/formula/function to correctly evaluate answer	LO1
2	Interpret your answer and reflect on any caveats or concerns.	LO4
3	Apply a standard of presentation that is appropriate for what would be expected of a business professional	LO2
4	Recognise and apply statistical methodology/formula/function appropriate for the decision problem.	LO3

Assessment Task 2: Online Test

Task Description:

The Online Test will examine skills and knowledge from modules 1 to 3. It will be randomised so that students receive different questions of the same standard.

The test will involve students working with various scenarios to arrive at an appropriate answer with interpretation in a business context.

Task Length:

150 minutes.

Due Date:

Week 10

Weight:

32 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply methodology/formula/function to correctly evaluate answer	LO1
2	Interpret your answer and reflect on any caveats or concerns.	LO2
3	Apply statistical methodology/formula/function to correctly address the statistical problem.	LO3

Assessment Task 3: Online Skill Checks

Task Description:

Online Skill Checks
You will undertake the online test in your own time during a window of availability in weeks 2,4,6,8,10 & 12.

These tests will be used to allow students to identify various problem types and evaluate them to set them up for success in other assessment tasks. This assessment task is both a formative task to push you towards the mastery of basic skills by giving you multiple attempts at this assessment task as well as a summative assessment task.

Task Length:

4-9 multi-choice questions

Due Date:

Refer to Assessment Description

Weight:

18 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Select appropriate methodology/formula/function to calculate the correct answer.	LO1
2	Apply methodology/formula/function to correctly evaluate statistical problems.	LO4

Assessment Task 4: Examination

Task Description:

The final examination will consist of preparing answers to a variety of problems, with workings and procedures shown, and for which part marks may be awarded for incorrect answers.
It will focus on knowledge and skills from Module 4, and the last week of Module 3 of the unit.
More information will be provided during semester. The exam will be open book.

Task Length:

24 Hours

Due Date:

Exam Period

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply methodology/formula/function to correctly evaluate answer	LO3
2	Interpret your answer and reflect on any caveats or concerns.	LO4
3	Apply a standard of presentation that is appropriate for what would be expected of a business professional	LO3
4	Apply methodology/formula/function to correctly address finance and statistical problems.	LO2

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

There are no prescribed texts for this unit. Lecture overviews for Modules 1 to 4 are available via MyLO. Additional material, including videos, will also be available on MyLO.

Recommended reading materials

You may find it useful to consult alternative references as part of your study program. You may wish to take advantage of one of these as an additional source of worked examples, and for an alternate presentation of the material:

Aczel, A 2007, Complete business statistics, 6th edn, McGraw-Hill, Noida.

Berenson, M, Levine, D & Krehbiel, T 2012, Basic business statistics, 12th edn, Prentice Hall, New Jersey

Black, K 2014, Business Statistics: For Contemporary Decision Making, 7th Edition, Wiley

Croucher, J 2001, Statistics: making business decisions, McGraw-Hill, Maidenhead.

Selvanathan et al 2014, Business statistics – abridged : Australia New Zealand, 6th edn, Cengage, Sydney.

Waters, D 2011, Quantitative methods for business, 5th edn, Prentice Hall, Edinburgh Gate.

NB – Other editions of these references are also acceptable. You should note that notation may vary between references, and that, in some cases, even different formulae may be used. You should not concern yourself with any material covered in these references that is beyond what is covered by the lecture notes. In all cases, the lecture notes should be considered the primary reference for any topic.

Other required resources

CALCULATORS
It is essential to have a calculator with the ability to take square roots, raise to powers and with a memory. It is advantageous, but not necessary, to have a calculator with basic inbuilt statistical functions. It is possible to obtain a calculator for less than $30 that will suffice. If in doubt, check with a tutor. It is essential that you are competent in basic calculator operation. It is probably wise to avoid buying a second hand calculator if the original owner has lost the instruction manual. Any handheld battery powered calculator may be used in the end of year exam, providing it does not have communications capability. i.e. calculators with Wi-Fi, GSM, Bluetooth or NFC are not permitted. You may not use a smart phone or smart watch as a calculator in the examination, nor may you use a tablet.
MICROSOFT EXCEL
You will be instructed and provided with some learning resources on how to use aspects of Excel. The ability to interpret a standard Excel regression output is examinable. You may find Excel a quick and convenient way to check your calculations in assignments and practice problems. Spreadsheet skills are very transferable, both to other subjects and to the workplace.