Module ASB-2111:
Statistical Methods

Module Facts

Run by Bangor Business School

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Dr Gwion Williams

Overall aims and purpose

AIMS: The module will introduce students to the ideas of probability and statistical inference, and demonstrate the application of those ideas. The overall aim is to provide a good foundation in statistical methods and techniques. There is a strong focus on implementing these techniques in Microsoft Excel.

Course content

The course will include statistical techniques, which will include, but are not restricted to, sampling methods, hypothesis testing, regression and corelation analysis,.It will also cover the use of robustness testing, and the analysing of time series and panel data. There will be instruction on data management and the use of the statistical tools within Excel.

Assessment Criteria

threshold

A basic knowledge of course material. D- to D+

good

In addition to the above, an ability to write analytically on specific issues, and identify and work around problems.. B- to B+

excellent

In addition to the above, the ability to illustrate and enhance arguments and analyses through the use of relevant supporting evidence drawn from the data. A- to A+

C- to C+

Demonstration of the required knowledge, and techniques, but with mistakes and little development of the topic beyond lecture material

Learning outcomes

  1. Apply key statistical concepts.

  2. Understand sampling methods and interpret statistical inference.

  3. Analyse data, and interpret the results.

  4. Formulate and test hypotheses.

  5. Carry out investigations using summary statistics, graphs, techniques and exploratory data analysis, correlation and regression.

Assessment Methods

Type Name Description Weight
COURSEWORK Group Data Analysis Report

Data analysis report to be done by groups of 4 or 5 students.

20
EXAM End of Semester 2 exam 80

Teaching and Learning Strategy

Hours
Lecture 40
Workshop

2-hour drop-in session every other week. Attendance is non-compulsory.

20
Private study

Review and reflect upon the course material and practice the applications of technioques in Excel

140

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Computer Literacy - Proficiency in using a varied range of computer software
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
  • Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others

Subject specific skills

  • Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
  • Quantification and design. Data, and their effective organisation, presentation and analysis, are important in economics. The typical student will have some familiarity with the principal sources of economic information and data relevant to industry, commerce, society and government, and have had practice in organising it and presenting it informatively. This skill is important at all stages in the decision-making process.
  • Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
  • Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
  • Conceptual and critical thinking, analysis, synthesis and evaluation.
  • Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.

Resources

Resource implications for students

Davis & Pecar Business Statistics using Excel Lee & Peters Business statistics using Excel & SPSS

Reading list

Davis & Pecar Business Statistics using Excel Lee & Peters Business statistics using Excel & SPSS

Courses including this module

Compulsory in courses:

Optional in courses: