UNIVERSITY OF LIVERPOOL 
ECON154: Statistical Foundations of Business Analytics 
CATS Level: Level 4 FHEQ 
Final Examination Guide and Notes 2025 
 
Part 01: Revision Notes 
Part 02: Exam Practice Questions and Answers 
Part 03: Sample Final Examination Paper 
Part 04: Suggested Solutions to Final Exam Paper 
 
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ECON154: Statistical Foundations of Business Analytics (Solutions)

£35.00

ACADEMIC YEAR 2024 - 2025

University	University of Liverpool
Module Code	ECON154
CATS Value	15
Module Name	Statistical Foundations of Business Analytics
Notes Title	Final Examination Guide and Notes
Page Length	61

The ECON154: Statistical Foundations of Business Analytics - Final Exam Guide and Notes for 2025, tailored for students at the University of Liverpool, provides a comprehensive resource to master the key theories and concepts of the module. The guide features clear illustrations and worked examples that demonstrate the practical application of these theories. It also includes a sample exam with solutions and detailed explanations to simulate the real test-taking experience. Additionally, this guide provides concise notes, expert examiner advice, and practice questions with answers covering all key examinable topics, helping you prepare effectively and aim for the best possible grade.

This module introduces business administration students to key concepts in business analytics and the role of statistics in decision-making. It covers data analysis techniques, probability distributions, sampling methods, confidence intervals, hypothesis testing, and regression analysis. Students will develop skills to interpret data using graphs and summary statistics, understand sampling errors, model data with probability distributions, and perform statistical analyses in Excel.

The syllabus includes data visualisation, probability, sampling, and statistical inference for means and proportions. Students will explore relationships between variables using correlation and regression, assess model accuracy with residual analysis, and apply control charts for process improvement. By the end of the module, students will be equipped to analyse business data effectively and apply statistical methods in practical scenarios.

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ACFI103	Introduction to Finance
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ACFI204	Financial Management
ACFI225	Econometrics for Finance 1
ACFI231	Theory of Finance I
ACFI234	Theory of Finance II
ACFI304	Business Finance
ACFI309	Financial Reporting 2
ACFI310	Derivative Securities
ACFI321	Capital Markets
ACFI342	Financial Risk Management
EBUS205	Business Analytics
ECON112	Statistics & Data Analysis for Economics and Business
ECON121	Principles of Microeconomics
ECON123	Principles of Macroeconomics
ECON154	Statistical Foundations of Business Analytics
ECON210	Principles of Economics 2
ECON213	Econometrics 2
ECON222	Microeconomics 2
ECON233	Introductory Econometrics for Business & Economics
ECON241	Securities Markets
MKIB153	Fundamentals of Marketing
ULMS151	Organisations and Management

ECON154: Statistical Foundations of Business Analytics (Solutions)

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