BEX2520 Probability and statistical inference for economics and business
Faculty of Business and Economics
BEX2520 Probability and statistical inference for economics and business is a level 2, 0-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 0
- Offered in 2023
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
The 2027 handbook has no page for BEX2520. This is its 2023 entry, the latest one.
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Requisites
Before BEX2520
Prohibitions
You can't enrol if you have passed any of these.
After BEX2520
No unit lists BEX2520 as a prerequisite in the 2023 handbook.
Enrolment rules
Students must be enrolled in course 0029 or 3194.
Equivalent units
The same content under another code. Only one of them counts.
Overview
An introduction to probability and statistical inference for use in economics and business. Topics covered include random variables, moments and cumulants generating function, discrete and continuous distributions, independence, jointly distributed random variables, conditional random variables, the central limit theorem, sampling distribution, properties of estimators, confidence intervals, tests of hypotheses.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Within semester assessment40%
- Examination60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand concepts of probability, statistical inference, generating functions and cumulants
- 2
derive and use generating functions to evaluate moments and establish the distribution of linear combinations of independent random variables
- 3
understand and apply the main methods of estimation and the main properties of estimators
- 4
construct confidence intervals for unknown parameters and test hypotheses
- 5
develop written, presentational and group work skills through a series of assessed essays, assignments and tutorial work.
Workload and teaching
- Seminars24 hours
- Tutorials18 hours
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Learning resources
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Contacts
- Chief Examiners
- Professor Xueyan Zhao
Common questions
What are the prerequisites for BEX2520?
BEX2520 has no prerequisites, but enrolment rules apply.
When is BEX2520 offered?
In 2023, BEX2520 runs in Semester 2 at Clayton.
How much work is BEX2520?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does BEX2520 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.