The module aims to provide the students with an introduction to quantitative analysis and immerses them in some of the most fundamental areas of quantitative analysis. The module gives the students a detailed understanding of both the role and purpose of quantitative techniques in effective management and in the process of managerial decision making.
Organising Data
Important statistical terms, the general nature of statistics and its role in business, uses and abuses of statistics. Knowledge of data sources, primary and secondary data, the difference between a census and sampling. Construction of frequency tables, 3-way tabulations of data.
Presenting Data
Techniques for presenting data, for example bar charts, histograms, pie charts, frequency polygons, Ogives and Lorenz curves.
Measures of Central Tendency
Understanding, calculating and interpreting measures of central tendency including the mean, median, and mode. Understanding the merits of each measure and selecting the most appropriate measures.
Measures of Dispersion
Understanding, calculating and interpreting measures of dispersion including the range, quartiles, percentiles, variance, standard deviation, coefficient of variation and skewness. Understanding the merits of each measure and selecting the most appropriate measures.
Correlation and Regression
Understanding, calculating and interpreting Pearson's correlation coefficient, Spearman's rank correlation coefficient and the least square regression line.
Time Series Analysis
Understanding, calculating and interpreting moving averages, trend, seasonal variation and time series forecasting.
The module will be delivered using a combination of lectures, laboratories and tutorials. Emphasis is placed on problem-solving and business application.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |