#REQUEST.pageInfo.pagedescription#

Site Navigation

MATH6051 - Essential Maths& Stats for Bus

banner1
Title:Essential Maths& Stats for Bus
Long Title:Essential Mathematics & Statistics for Business
Module Code:MATH6051
 
Credits: 5
NFQ Level:Fundamental
Field of Study: Mathematics
Valid From: Semester 1 - 2014/15 ( September 2014 )
Module Delivered in 4 programme(s)
Module Coordinator: David Goulding
Module Author: AINE NI SHE
Module Description: This is a first course in Business Mathematics & Statistics. Its aim is to ensure that the learner gains a competence and confidence in the Mathematics and Statistics necessary for the Business disciplines, together with an insight into the relevance of Mathematics and Statistics in the Business context.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Perform all manner of arithmetical calculations including those of an elementary statistical nature.
LO2 Manipulate a variety of algebraic expressions, transpose formulae, and apply algebra to the solution of elementary business problems.
LO3 Distinguish the different number formats and be competent in switching from one to the other.
LO4 Visualise numbers, lines and data.
LO5 Represent and interpret statistical data graphically.
LO6 Choose use and interpret summary statistics.
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
Co-requisites
No Co Requisites listed
 

Module Content & Assessment

Indicative Content
Why Mathematics? Why Statistics?
Discussion of the relevance of Mathematics and the importance of data analysis and Statistics in the modern business world using real-life examples.
Arithmetic
Overview of Number systems - natural numbers, integers, rational numbers, real numbers. Arithmetic operations - addition, subtraction, multiplication and division. Approximation. Order of operations. Fractions, decimals, percentages, ratio, indices. Applications to the business context such as Percentage increase/decrease, profit/loss. Break even analysis. Currency Conversion. Simple Index and Chain Index Numbers. Inflation.
Fundamentals of Algebra
Variables. Simplification and evaluation of algebraic expressions, including examples from the business domain. Transposition of formulae. Simple and Compound Interest. Depreciation. Graphing of functions.
Descriptive Statistics
Data collection, organisation, and analysis. Primary and secondary data. Qualitative and quantitative data. Ordinal and non-ordinal data. Frequency Tables and Distributions. Visualisation - bar charts, stem and leaf, histograms, ogives.
Summary Statistics
Measures of central tendency - mean, mode, median. Measures of spread - range, interquartile range, standard deviation. Skewness. Kurtosis.
Laboratory programme
Use of Excel or an equivalent to perform statistical and financial calculations and graphs connected to the headings above.
Assessment Breakdown%
Course Work40.00%
End of Module Formal Examination60.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions Series of in-class assessments based on homework 1,2,3,4,5,6 20.0 Every Second Week
Practical/Skills Evaluation Laboratory assessment 1,2,3,4,5,6 20.0 Week 12
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5,6 60.0 End-of-Semester
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture 3.0 Every Week 3.00
Tutorial Questions and answers on lecture material, homework and tutorial sheets 1.0 Every Second Week 0.50
Lab Mathematics/Statistics computer laboratory 1.0 Every Second Week 0.50
Independent & Directed Learning (Non-contact) Independent learning in relation to arithmetic and algebra. 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Review of lecture material, completion of exercise sheets 2.0 Every Week 2.00
Total Hours 8.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture 2.0 Every Week 2.00
Tutorial Questions and answers on lecture material, homework and tutorial sheets 1.0 Every Second Week 0.50
Lab Mathematics/Statistics computer laboratory 1.0 Every Second Week 0.50
Independent & Directed Learning (Non-contact) Review of lecture material, completion of exercise sheets 3.0 Every Week 3.00
Independent & Directed Learning (Non-contact) Independent learning in relation to arithmetic and algebra 1.0 Every Week 1.00
Total Hours 8.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Tadhg L. O'Shea 2013, Essential Statistics for Researchers [ISBN: 9780957505902]
Supplementary Book Resources
  • Andre Francis, 2004, Business Mathematics and Statistics, 6th Ed., Thomson Learning [ISBN: 9781844801282]
  • W. M. Harper, 2000, Statistics, 6th Ed. [ISBN: 9780273634263]
  • Mark L. Berenson, David M. Levine, Timothy C. Krehbiel 2009, Basic business statistics, Pearson/Prentice Hall Upper Saddle River, N.J. [ISBN: 978-0-13-500936-9]
  • Charles Henry Brase, Corrinne Pellillo Brase, 2012, Understanding Basic Statistics, 6th Edition Ed., Cengage Learning [ISBN: 978-1111827021]
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_BBUSS_7 Bachelor of Business 1 Mandatory
CR_BBADM_7 Bachelor of Business in Business Administration 1 Mandatory
CR_BMNGT_7 Bachelor of Business in Management 2 Mandatory
CR_BBUSS_6 Higher Certificate in Business 1 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie