| Title: | Essential Maths& Stats for Bus |
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| Long Title: | Essential Mathematics & Statistics for Business |
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| Field of Study: |
Mathematics
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| Valid From: |
Semester 1 - 2014/15 ( September 2014 ) |
| 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
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| 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
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| No Co Requisites listed |
Module Content & Assessment
| Indicative Content |
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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.
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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.
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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.
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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.
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Summary Statistics
Measures of central tendency - mean, mode, median. Measures of spread - range, interquartile range, standard deviation. Skewness. Kurtosis.
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Laboratory programme
Use of Excel or an equivalent to perform statistical and financial calculations and graphs connected to the headings above.
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| Assessment Breakdown | % |
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| Course Work | 40.00% |
| End of Module Formal Examination | 60.00% |
| Course Work |
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| 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 |
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| 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 |
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- Tadhg L. O'Shea 2013, Essential Statistics for Researchers [ISBN: 9780957505902]
| | Supplementary Book Resources |
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- 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 |
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| Other Resources |
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- Website: CITMaths Online
- Website: CITBlackboard
- Website: Wolfram Alpha
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Module Delivered in
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