Module Aims: - To provide an appropriate level of understanding and practical experience in the area of mathematical and statistical techniques relevant to business. - To develop analytical problem solving skills.
Basic Arithmetic
Mathematical notationSigmasAccuracyRoundingEquation of a line and understanding of slopeUse of a calculatorAbsolute and relative errorPercentagesCalculation order (BOMDAS)Basic manipulation of equations (reverse BOMDAS)
Data Presentation
Sampling techniquesBiasSample sizeBasic questionnaire designCollectionClassification of dataPrimary and secondary dataContinuous and discrete dataGraphical and tabular representation of dataHistograms, polygons and curvesSimple and grouped frequency distributionsClass boundaries, widths, mid-points, scaling factors, scaled frequency, cumulative frequencies, percentage frequenciesCumulative and percentage frequency distributionsNon-numeric frequency distributions and charts
Analysis of Data
Averages, mean, median and mode of grouped and ungrouped dataDiagrammatic determination of the median and other quantiles, and the mode Measures of dispersion, standard deviation, range, inter-quartile range, mean absolute deviation, coefficient of variationConcept of skewness
Index Numbers
Construction and use of index numbersConversion between index relativesLaspeyres and Paasche composite indicesReal value index and deflation of data
Financial Mathematics
Time linesSimple and compound interest formulaeStraight line and reducing balance depreciation formulaeCompounding and discountingAPR, nominal and per period interest ratesSimple time value of money using compound interest formulaAnnuities.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Other Assessment(s) | 100 |