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F84K 35 Statistics for Business

This document highlights modifications made in 2014 to the assessment approach of Statistics for Business unit, focusing on logical groupings, threshold requirements, and potential scenarios for meaningful comments. The changes allow for more efficient assessment without the need to resit entire outcomes, promoting a more student-friendly evaluation process.

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F84K 35 Statistics for Business

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  1. F84K 35 Statistics for Business Modifications (2014)

  2. Statistics for Business • F84K 35 • SCQF Level 8 • Various Business, Accounting, Finance and Management HNframeworks • Has existed in various forms over the years

  3. History of Statistics for Business • DE3M 35 (2003-12) • Lapsed • Finishing 31 July 2014 • 60% threshold for pass

  4. History of Statistics for Business • F84K 35 (2010-present) • Introduced 2010 with no reference to threshold or error tolerance • Modified 2012 with error tolerance in line with many HN Accounting Units • 2 ASPs written

  5. Statistics for Business • F84K 35 modifications 2014 • Additional approach to assessment offered by ASP 2 • More akin to other Maths and Stats (VG142) assessment approaches • Minor changes to Unit Specification • Removed references to thresholds • ASP 1 remains unchanged.

  6. Unit Specification Changes • Added a comment to the effect that candidates should not be able to alter an assessment after submission. • If requirements of assessment are not met, an alternative instrument of assessment should be used.

  7. ASP Changes (Overview) • ASP 1 remains broadly unchanged, using the error tolerance approach.

  8. ASP Changes (Overview) • ASP 2 content remains largely unchanged, but method of assessment decision modified • Knowledge and Skills are assessed in logical groupings, or sections • Each section has a threshold for competence • Thresholds are on or above 60% • Failure to meet requirement for competence in any section requires a resit of that section, rather than the whole Outcome.

  9. ASP Changes toOutcome 1 • Outcome 1 • Section 1: Data definitions and examples (4/7) • Section 2: Sampling Methods (3/4) • Section 3: Data Sources (2/3) • Section 4: Survey Methods (3/4) • No change here

  10. ASP Changes to Outcome 2 • Outcome 2 • Section 1: Central Location, Dispersion and Quantitative Data Analysis (10/16) • Section 2: Qualitative and Ordinal Data Analysis (3/5) • Section 3: Index Numbers (2/3) • Caveat: At least one comment must be meaningful. If not, then the assessor may provide a scenario for the candidate to comment on.

  11. ASP Changes toOutcome 3 • Outcome 3 • Section 1: Scatter Charts, Correlation, Regression, and Forecasting (4/6) • Section 2: Time Series Analysis and Historigram (8/13) • Caveat: At least one comment must be meaningful. If not, then the assessor may provide a scenario for the candidate to comment on.

  12. Conclusion • Allow alternative assessment approach • Should allow students to demonstrate Knowledge and Skills without the need to resit entire Outcome, only the required section(s). • Alternative assessment instruments should be used for reassessment • If you would like to modify the approach to marking or evaluating assessment decisions, please submit for Prior Verification.

  13. Questions

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