# Module Overview

The purpose of this module is to provide the student with knowledge, information and awareness of mathematical and statistical tools which are useful in the business environment.

ACCF H1011

##### ECTS Credits

5

*Curricular information is subject to change

Foundations

Rounding, sigma notation, and manipulation of equations. BOMDAS/BEMDAS/BODMAS applied to manipulation of equations.

Calculus

Basic differential calculus. Business functions: cost, price, revenue, profit. Marginal functions. Maximum and minimum problems.

Working with Data

Classification, tabulation and graphical representation of data. Continuous and discrete data. Class boundaries. Frequency distributions. Histograms. Cumulative frequency distributions and ogives. Application and interpretation to simple business problems.

Summary Statistics

Sample and population. Statistic and parameter. Measure of location: mean, median and mode. Measures of dispersion: range, standard deviation, quartile deviation and co-efficient of variation. Interpretation of statistics and application to simple business problems.

Correlation and Regression

Scatter Diagrams. Positive and negative, strong and weak correlation. Coefficient of correlation. Linear Regression. Interpolation and extrapolation.

Introduction to Probability

Definitions of probability. Calculating probabilities of simple events. Permutations and combinations. Calculating probabilities of compound events. Mutually exclusive and independent events. Contingency tables and Venn diagrams. Contingency tables for decision making under conditions of uncertainty. Application of probability to reliability/block-systems.

Discrete Probability Distributions

Discrete random variables. Binomial and Poisson distributions

Business Mathematics is taught in a supportive and encouraging environment, cognisant of challenges that many students may have had with mathematics in their past. Student individual practice is strongly encouraged, supported and facilitated via individualised practice problems and tutorial support, along with interactive content. The systematic solution of problems in a step-by-step manner is emphasised throughout, thus developing a set of more general problem-solving skills.

Module Content & Assessment
Assessment Breakdown %
Formal Examination70
Other Assessment(s)30