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Level 4 Diploma in Accounting and Business

Descriptive Statistics for Data Interpretation

AB404 · Quantitative Methods in a Business Context — Week 9 of 16

CourseAB404
Week9 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Descriptive Statistics for Data Interpretation

  1. Measures of central tendency
  2. Measures of dispersion
  3. Skewness in operational data
  4. Managerial interpretation of data spreads
  5. Descriptive Statistics 101: 6 Things You NEED TO DO (With Examples) ?
  6. Mode, Median and Mean (Averages): Describing the Central Tendency
  7. Standard deviation and coefficient of variation: Describing the dispersion

What you will be able to do

  • 3.1 Compare different types of business and management data.
  • 3.2 Represent and interpret business and management data.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: compare different types of business and management data.

Study materials

Videos

  • Descriptive Statistics 101: 6 Things You NEED TO DO (With Examples) ? · YouTube · Grad Coach · 30 min · for registered students
  • Mode, Median and Mean (Averages): Describing the Central Tendency · YouTube · Mark Saunders on Research Methods · 10 min · for registered students
  • Standard deviation and coefficient of variation: Describing the dispersion · YouTube · Mark Saunders on Research Methods · 17 min · for registered students

Further resources

  • Introductory Business Statistics 2e, ch. 2: Descriptive Statistics · PDF · OpenStax, textbook chapter; pp. 57–148 · for registered students
  • Introductory Statistics 2e, ch. 2: Descriptive Statistics · PDF · OpenStax, textbook chapter; pp. 77–178 · for registered students
  • HELM Workbook 36: Descriptive Statistics · PDF · Helm, worksheet; 45 pages · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
MidtermWeek 10
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Fundamentals of Business Data
  • Week 2: Essential Numerical Techniques for Business
  • Week 3: Cost and Pricing Calculations
  • Week 4: Financial Mathematics for Decision Making
  • Week 5: Tabular Data and Chart Construction
  • Week 6: Principles of Graphical Construction
  • Week 7: Plotting and Interpreting Management Graphs
  • Midterm: Midterm evaluation
  • Week 9: Descriptive Statistics for Data Interpretation
  • Week 10: Time Series and Trend Interpretation
  • Week 11: Data Communication and Stakeholder Reporting
  • Week 12: Applying Quantitative Methods in a Business Context in prac…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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