MATH06075 2014 Business Maths and Statistics
The subject is designed to give students a thorough grounding in mathematical techniques that are required to pursue other business modules.It aims to provide learners with the necessary skills to gather, organize, analyse and present data. It aims also to enable students to understand and assess quantitative information presented to them.
On completion of this module the learner will/should be able to;
Demonstrate competence in numerical operations and algebraic manipulation
Perform calculations in financial mathematics
Summarise and analyse statistical data
Solve probability problems and be able to use normal tables
Data Analysis using computers
Teaching and Learning Strategies
The student will engage with the content of the module through lectures and tutorials.
The student will develop and apply their learning through practical examples and exercise sheets.
Module Assessment Strategies
Continuous assessment during the semester.
1. Basic Mathematics: Use of electronic calculator, basic arithmetic operations, calculations involving percentages, fractions and ratios, roots and powers.Apply various algebriac techniques to business problems.
2. Data Presentation and Summarisation: Use various methods of representing data in tabular and graphical form. Calculate various measures of central tendency and variation.
3. Probability: Addition and multiplication laws of probability, conditional probability, problems involving the Normal distribution.
4.Financial Mathematics: Simple and compound interest, straight line and reducing balance methods of depreciation, investment evaluation, periodic payment necessary to repay a debt/mortgage over time, amortization schedule.
5.Data Aanalysis: Spreadsheets to generate charts & values obtained in the previous sections
Coursework & Assessment Breakdown
|Title||Type||Form||Percent||Week||Learning Outcomes Assessed|
|1||Continuous Assessment||Continuous Assessment||Assessment||100 %||OnGoing||1,2,3,4,5|
Full Time Mode Workload
|Independent Learning||Not Specified||Independent Learning||3||Weekly||3.00|
Mustoe & Barry,2008,Foundation Mathematics
Curwin, Jon., Slater, Roger 2008, Quantitative Methods for Business Decisions , 6th ed., Cengage Learning
Francis, A., 2004, Business Mathematics and Statistics , 6 th ed., Thomson Learning
Lind, Douglas A., Marchal, William G., Wathen, Samuel A., 2003, Basic Statistics for Business and Economics, 4 th ed., McGraw-Hill Irwin
Owen, Frank, Jones, Ron 1994, Statistics, 4 th ed., Pitman
Reilly, James, 2006, Using Statistics , Gill & MacMillan
Smailes, Joanne, McGrane, Angela, 2000, Essential Business Statistics , Financial Times/Prentice Hall