LO1 Evaluate business and economic data/information obtained from published sources

Unit Number & Unit Title Unit 31: Statistics for Management

Learning Outcomes 

Pass Merit Distinction

Task No.

Evidence

LO1 Evaluate business and economic data/information obtained from published sources

P1 Evaluate the nature and process of business and economic data/information from a range of different published sources.

P2 Evaluate data from a variety of sources using different methods of analysis.

M1 Critically evaluate the methods of analysis used to present business and economic data/information from a range of different published sources.

LO1 & 2

D1 Critically evaluate the differences in application between methods of descriptive, exploratory and confirmatory analysis of business and economic data.

Task 1

Individual PPT presentation

LO2 Analyse and evaluate raw business data using a number of statistical methods

P3 Analyse and evaluate qualitative and quantitative raw business data from a range of examples using appropriate statistical methods.

M2 Evaluate the differences in application between descriptive statistics, inferential statistics and measuring association.

Task 1 Individual PPT presentation

LO3 Apply statistical methods in business planning

P4 Apply a range of statistical methods used in business planning for quality, inventory and capacity management.

M3 Evaluate and justify the use of appropriate statistical methods supported by specific organisational examples

D2 Make valid recommendations and judgements for improving business planning through the application of statistical methods.

Task 2 Examination

LO4 Communicate findings using appropriate charts/tables

P5 Using appropriate charts/tables communicate findings for a number of given variables.

M4 Justify the rationale for choosing the method of communication.

D3 Critically evaluate the use of different types of charts and tables for communicating given variables.

Task 1 Individual PPT presentation