Level 3 Statistics Information
Statistics (24 Credits)
Externals: Probability, Evaluate Statistically Based Reports & Probability Distributions
Internals: Design and Conduct an Experiment, Formal Inference & Investigate Bivariate Data Relationships
Prerequisites : 16 Credits in Level Two Mathematics including both of the Probability and Statistics Standards.
This course has a high literacy demand. All of the internal Achievement Standards are assessed by a written report.
The key to making sense of all the data now at our disposal is statistics. At leading companies, the decisions once driven by HiPPOs (the Highest-Paid Person’s Opinion) are increasingly made by conducting experiments that draw on the core skills of statisticians. Rather than relying on gut instinct, businesses now find ways to test hypotheses and use statistical methods to analyse the results, applying the classic scientific method to decision-making.
Consider the teams of medical researchers running clinical trials or analyzing the outcomes of patients after a therapy has been made widely available: they have to select the parameters to study, assess the results, and draw the right conclusions about a drug's effectiveness and safety. Online advertisers trying to micro-target consumers must be able to detect patterns in the massive amount of clickstream data they gather from the Web. Risk managers on Wall Street, retail buyers choosing this season's merchandise, environmental scientists, sports analysts, and military strategists all rely on the ability to synthesize data and predict outcomes.