BTEC Level 4 Unit 31: Statistics for Management
Unit code R/508/0570
Unit level 5
Credit value 15
The aim of this unit is to provide students with an understanding of how management information and decision-making are enhanced by the application of statistical methods. Students will learn about a range of statistical techniques and how they can inform management thinking. While studying the unit they will develop their numerical abilities and increase their confidence in handling data in order to create information and knowledge.
By the end of this unit a student will be able to:
1 Evaluate business and economic data/information obtained from published sources.
2 Analyse and evaluate raw business data using a number of statistical methods.
3 Apply statistical methods in business planning.
4 Communicate findings using appropriate charts/tables.
Let us begin the session by firstly evaluating business and economic data/information obtained from published sources!