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This research investigates factors that affect achievement in a business statistics course. A sample of 275 business students in a UK university were surveyed using previously developed instruments to measure the classroom learning environment, students’ attitude to statistics, and their peer environment. A model was proposed and analyzed using structural equation modeling. The results showed that only attitude towards statistics directly influenced achievement (final examination score). However, the perceived learning environment, the peer environment and prior mathematics knowledge all significantly influenced attitude towards statistics. Also, peer environment significantly affected the perceived learning environment. The research highlights the importance of the learning environment and suggests that encouraging the peer environment of groups that form within classes to be positive could improve achievement.