#REQUEST.pageInfo.pagedescription#

Site Navigation

STAT6012 - Maths & Stats for Marketing

banner1
Title:Maths & Stats for Marketing
Long Title:Statistics & Mathematics for Marketing
Module Code:STAT6012
 
Duration:1 Semester
Credits: 5
NFQ Level:Fundamental
Field of Study: Statistics
Valid From: Semester 1 - 2014/15 ( September 2014 )
Module Delivered in 2 programme(s)
Module Coordinator: David Goulding
Module Author: AINE NI SHE
Module Description: This module provides the learner with a foundation in Mathematics and Statistics for Marketing.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Explain the importance of Statistics and Mathematics in the solution of business problems.
LO2 Describe various data collection techniques and sampling methods.
LO3 Apply the methods of descriptive statistics to organise, summarise, present and analyse data.
LO4 Choose, use and interpret summary statistics.
LO5 Calculate probabilities using the basic rules of probability and solve related applied problems.
LO6 Use a software package for statistical calculations and analysis.
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 MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

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
 

Module Content & Assessment

Indicative Content
Introduction to Mathematics and Statistics for Marketing
Discussion of the importance of Mathematics and Statistics in Marketing. Arithmetic - number operations, precedence, fractions, decimals, percentages, ratio. Statistics - introduction to and discussion of descriptive statistics, inferential statistics.
Sampling techniques
What is sampling? Why is it used? What types of sampling can be used? Sampling Methods, Survey and Questionnaire Design.
Descriptive and Summary Statistics
Frequency distribution, histograms, cumulative frequency distribution, ogives. Nominal, ordinal, ratio and interval data. Measures of central tendency - mean, mode, median. Discussion on the symmetry and asymmetry of distributions. Measures of variability - range, quartiles, percentiles, standard deviation, variance, skewness and kurtosis.
Probability
Definition of probability. Examples illustrating the use of elementary probability in decision making. The complementary event. The elementary rules for calculation of probabilities: the addition rule, conditional probabilities and the multiplication rule. Independent events. Introduction to Bayes' theorem. Expected values.
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 Lab 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 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
Total Hours 5.00
Total Weekly Learner Workload 4.00
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 homework sheets 4.0 Every Week 4.00
Total Hours 8.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Tadhg O'Shea, Essential Statistics for Researchers [ISBN: 9780957505902]
Supplementary Book Resources
  • Andre Francis, 2004, Business Mathematics and Statistics, 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, Houghton Mifflin Boston, MA [ISBN: 978-1111827021]
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_BIBLA_8 Bachelor of Business (Honours) in International Business with Language 2 Mandatory
CR_BMRKT_8 Bachelor of Business (Honours) in Marketing 2 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

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