The aim of the module is to provide an introduction to statistical techniques which are widely applicable in solutions of business problems and to introduce simple mathematical models of business problems and demonstrate their formulation and solution.
• Presentation of data, construction of frequency distribution tables, display data on charts.
• Measures of central tendency, mode, median and mean
• Measures of dispersion, range, deviations
• Correlation and regression using least squares.
• Index numbers
• Time series analysis, trends, seasonal variation, forecasting.
• Linear programming, graphical solution of two variable programming problems including shadow pricing.
• Differentiation, cost and revenue functions, maximum functions.
• Matrix Algebra, matrix operations and solutions of equations.
• Mathematics of Finance, compound interest, annuities and loans, project analysis by NPV and IRR.
The main teaching method will be two hour class based lectures backed up by notes. The emphasis will be a practical approach based on problem solving. There will also be a tutorial.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |