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Statistics 1 Course Outline

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Statistics 1 Course Outline

Uploaded by

abrahamtobias82
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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UNIVERSITY OF MALAWI – THE MALAWI POLYTECHNIC

FACULTY OF COMMERCE

ACCOUNTANCY DEPARTMENT

1. Programme : Bachelor of Commerce (Internal


Auditing)

2. Module Title : Fundamentals of Statistics

3. Module Code : STA 214

4. Level : 1

5. Credits : 10

6. Presented to : Senate

7. Presented by : Faculty of Commerce

8. Lecture hours/week : 3

9. Tutorial hours/week : 1

10. Method of Assessment : 40% course work, 60% examinations

11. Pre-requisites : Business Numeracy

12. Module Descriptor: Today’s businesses generate vast quantities of data


that need to be converted into meaningful form to aid effective decision
making. To do this, data must be collected and converted into useful
information. This module offers statistical tools to use in data collection,
data presentation and summary, data analysis and interpretation.

13. Module Aims: This module is aimed at equipping the student with basic
statistical tools that will enable effective data analysis (that is, turn data
into information) for meaningful decision making.

14. Intended Learning Outcomes:


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

(a) use mathematical symbols in statistics


(b) apply statistics in the business decision making process
(c) use sampling techniques in data collection
(d) convert data into information to enable decision making
(e) present data in various forms such as tables, graphs and charts
(f) calculate and interpret summary measures
(g) interpret graphs and charts
15. Indicative Content:

(a) Statistics in the world of business and the role of information


technology

(b) Data collection and presentation

(i) Sources of data


(ii) Complete enumeration
(iii) Sampling and sampling designs/methods
(iv) Methods of data collection
(v) Data classification
(vi) Diagrammatic presentation of data: tabulation, frequency
distribution, histograms, cumulative frequency
distribution, percentage ogive, pictograms
(viii) Charts: bar, pie, line and z-charts

(c) Descriptive Statistics: Location measures

(i) Central Location: arithmetic mean (average), mode and


median.

(ii) Non-central location measures: quartiles, quantities, deciles


and percentiles

(iii) Choosing a valid measure of central location


(iv) Other measures of central location: geometric mean,
weighted arithmetic mean

(d) Descriptive Statistics: Dispersion and skewness measures

(i) Measures of dispersion: Range, inter-quartile range, quartile


deviation, variance, standard deviation, coefficient of
variation

(ii) Measure of skewness: types of skewness, Pearson's


coefficient of skewness

(e) Introduction to Probability

(i) Counting principles

(ii) Objective versus Subjective Probability

(iii) Properties of a Probability


(iv) Basic probability concepts: intersection and union of events,
mutually exclusive events, collectively exhaustive
events, independent events.
(v) Computation of objective probability: marginal probability,
joint probability, conditional probability.

(vi) Probability rules: multiplication and addition Rules


(vii) Tree diagrams

16. Teaching and learning methods:


Lectures, tutorials, focus group discussions

17. Prescribed Texts


Gregory and Ward (1978): Statistics for Business, McGraw Hill, London.

18. Recommended Texts


Croff D. (1983): Applied Statistics, Macdonald and Evans, London.

Wonnacott R.J. and Wonnacott T.H (1990): Introductory Statistics for


Business and Economics, J. Wiley, New York.

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