BAM4312 - Business Mathematics

Objectives:

On successful completion of the module, students will be able to:

1 demonstrate a competence in basic mathematics and spreadsheet use
2 apply techniques for summarising and analysing data, with an awareness of their limitations
3 identify instances of risk and uncertainty and calculate the expected probability of alternative outcomes
4 calculate and interpret levels of connection or interdependence of two data sets
5 forecast data trends and values from past and present figures, with an understanding of the limitations of such forecasts

Content:

Calculation, rounding, percentages and ratios, formulae, basic algebra and solution of equations, inequalities, simple and compound interest.
Probability, expected values, risk and uncertainty.>br> Data and information, tabulation, graphs and diagrams, measures of central tendency and dispersion, frequency distributions, normal distribution, the Pareto distribution and ‘80:20 rule’, index numbers.
Scatter diagrams, correlation coefficient, linear regression.
Time series analysis and trends, seasonal variations, forecasting and its limitations.
Estimation & confidence intervals. Spreadsheet functions and applications.

Learning and Teaching Information:

One two-hour session each week for 20 weeks during which mathematical skills and techniques will be revised, learned and practised. Progress will be monitored through questioning and written exercises during class sessions, and assessed via a number (around 5 or 6) of written exercises, tests and spreadsheet-based assignments. Students will be asked to complete additional learning exercises between formal sessions and to submit these to the module tutor for checking.

Lecture / workshop session
Contact hours 40
Number of groups 1 group of 30 students

Assessment:

001 Portfolio of up to 3 tests and exercises 1 x 2,000 words- equivalent during Sem 1 50%
002 Portfolio of up to 3 tests and assignments 1 x 2,000 words- 50%


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