ECON1012 · Data Analytics
The Final Exam Playbook
The Final Exam Playbook is the cross-module chapter for the assessment worth half the course: the ECON 1012 final exam counts for 50%, runs 180 minutes, and covers Weeks 1–10 with 25 multiple-choice questions (four options each) plus 3 case-study questions that require full written working. There is no hurdle — you pass on your overall course mark. The exam is invigilated and hand-calculated: Excel stays in the workshops, while you bring a non-wireless calculator and one double-sided A4 note sheet (no content restrictions), with Z and t tables provided in the paper. The official guidance is explicit about sources: MCQs are similar to the end-of-module practice quizzes, and the case studies resemble workshop examples. This chapter turns those facts into a plan — the three case-study archetypes, six-step test discipline, table-reading drills, and a note sheet worth building.
What this chapter covers
- 01Format: 25 MCQs (2 marks each) + 3 case studies (50 marks) = 100 marks · 180 minutes · Weeks 1–10 · no hurdle
- 02Time budget from the practice paper: ≈90 min for MCQs, ≈90 min for case studies — MCQ answers go on a separate answer sheet
- 03The three case-study archetypes: contingency-table probability · two-population six-step t-test with Type I/II reasoning · reading simple-regression output (β̂₁, R², slope test)
- 04Allowed kit: one double-sided A4 note sheet (any content, handwritten or printed) · non-wireless calculator (graphics calculators in exam/test mode only)
- 05Provided in the paper: cumulative area-to-left Z table (z = −3.0 … 3.0) and Student t critical values by df and right-tail area, P(t > t_α,df) = α
- 06Six-step hypothesis-testing format is the case-study marking scheme: hypotheses → test statistic → α → decision rule → computed value → conclusion
- 07MCQs mirror the module practice quizzes on myLearning — randomised and re-attemptable, so repeats stay useful
- 08The note sheet IS the revision plan: compressing ten weeks of formulas and decision rules onto one A4 page is the study exercise
Case study: reading simple-regression output under exam conditions
- 2 marks(a) Slope: β̂₁ = 3.40, so an extra $100 of weekly marketing spend is, on average, associated with an extra 3.40 hundred dollars — $340 — of weekly revenue. Use 'associated with', not causal language.
- 1 mark(a) Intercept: β̂₀ = 12.6 — predicted weekly revenue of $1,260 when spend is zero; interpret with caution if x = 0 lies outside the sampled range.
- 2 marks(b) R² = 1 − SSE/SST = 1 − 400/800 = 0.50.
- 2 marks(b) Interpretation: 50% of the variation in weekly revenue is explained by variation in marketing spend. Since R² = r², r = √0.50 ≈ 0.71, taking the positive root because the slope is positive.
- 1 mark(c) Steps 1–2 — hypotheses and statistic: H₀: β₁ = 0 (no linear relationship) vs H₁: β₁ ≠ 0; test statistic t = (β̂₁ − 0)/s_β̂₁ with df = n − 2 = 25.
- 2 marks(c) Steps 3–4 — significance level and decision rule: α = 0.05, two-tail, so reject H₀ if t₀ < −2.060 or t₀ > 2.060 (t₀.₀₂₅,₂₅ = 2.060 from the provided t table).
- 1 mark(c) Step 5 — value of the test statistic: t₀ = 3.40/0.68 = 5.0.
- 2 marks(c) Step 6 — conclusion: since t₀ = 5.0 > 2.060, reject H₀ in favour of H₁. There is sufficient evidence to infer that a linear relationship exists between marketing spend and revenue, at a significance level of 5%.
- 1 mark(d) At α = 0.01 the two-tail critical value becomes t₀.₀₀₅,₂₅ = 2.787; t₀ = 5.0 > 2.787, so H₀ is still rejected — the conclusion is unchanged at the 1% level.
Key terms
- MCQ section (Part I)
- 25 multiple-choice questions, four options each and 2 marks apiece, answered on a separate MCQ answer sheet. Officially similar to the practice quiz questions at the end of each myLearning module.
- Case-study question (Part II)
- One of three multi-part exam questions worth 50 marks together: several sub-questions built on one shared information set, answered with working, explanations and calculations shown. Officially styled to resemble the examples covered in workshops.
- Note sheet
- The one double-sided A4 page of notes each student may bring — handwritten or printed, with no restrictions on content. Building it is itself revision: it forces ten weeks of material down to formulas, decision rules and table-reading reminders.
- Z table (cumulative standard normal)
- The provided table of P(Z < z) — the area to the LEFT of z — for z from −3.0 to 3.0. Right-tail and between-two-values probabilities come from the complement, symmetry and difference identities.
- t table (critical values)
- The provided table of Student t critical values: rows are degrees of freedom, columns are right-tail areas from t₀.₁₀₀ to t₀.₀₀₅, with the convention P(t > t_α,df) = α. Its final row holds the standard normal values (e.g. 1.96 under t₀.₀₂₅).
- Hurdle
- A rule that would require a minimum mark on a specific assessment to pass a course. ECON 1012 has none: an overall course mark of 50 or higher passes, even if the final exam score is below 50.
The Final Exam Playbook FAQ
What does the ECON 1012 final exam look like?
A 180-minute invigilated paper covering Weeks 1–10 and worth 50% of the course. Part I is 25 multiple-choice questions (four options, 2 marks each, answered on a separate MCQ answer sheet); Part II is 3 case-study questions worth 50 marks in total, each a set of sub-questions on one shared information set with all working shown. The practice paper suggests about 90 minutes per part. MCQs are similar to the module practice quizzes; the case studies resemble workshop examples.
What can I bring into the exam, and what is provided?
You may bring one double-sided A4 note sheet — handwritten or printed, with no content restrictions — and a non-wireless calculator (graphics calculators only in exam/test mode). The paper itself includes the cumulative standard normal (Z) table and the Student t critical-value table, so table values never need memorising. Everything else is closed book; your sitting is centrally timetabled, so check the university portal and the current unit outline for details.
Do I have to pass the final exam to pass ECON 1012?
No — there is no hurdle on any assessment. The exam is 50%, alongside the Descriptive Statistics Case Study (10%), Statistical Inference Assignment (20%) and Data Analysis Case Study (20%); as long as your overall course mark reaches 50, you pass even with a below-50 exam score. Half the grade still rides on one sitting, though, so treat the banked 50% as a cushion, not a substitute for preparation. Due dates for the other assessments are listed on myLearning.
How should I prepare in the final weeks before the exam?
Work backwards from what the exam mirrors: re-attempt every module practice quiz (they are randomised, so repeats stay useful) and redo workshop examples by hand under time pressure, since the case studies are styled on them. Build your A4 note sheet yourself — compressing ten weeks onto one page is the real revision — and give space to the six-step test template, the CI formulas and the Z-versus-t decision. Finish by drilling the tables: the exam is hand-calculation, so reading area-to-left Z probabilities and right-tail t critical values quickly is a trainable edge.
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Exam move
Revise where the marks are sourced: rerun each module's practice quiz on myLearning until the MCQ style feels routine, then rework workshop examples by hand — those are the models for the three case studies. Build the A4 note sheet early and put the classic slips on it: use t (df = n − 1) when σ is unknown; the standard error is σ/√n, never σ; write 'do not reject H₀', not 'accept'; the percentile location L is not the value; mutually exclusive events are not independent; conditionals divide by P(B), differences subtract the intersection. Drill both provided tables — area-to-left Z, right-tail t. On the day, split the 180 minutes 90/90, transfer MCQ answers to the answer sheet as you go, and show every one of the six steps.
