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MATH6007 - Business Statistics and Maths

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Title:Business Statistics and Maths
Long Title:Business Statistics and Maths
Module Code:MATH6007
 
Duration:1 Semester
Credits: 5
NFQ Level:Fundamental
Field of Study: Mathematics
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 3 programme(s)
Module Coordinator: David Goulding
Module Author: AdrianT OConnor
Module Description: A practical course in Business Statistics and basic Financial Mathematics Mathematics, and in the use of appropriate statistical software such as Excel.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Summarise raw data for presentation in tabular and graphical forms by hand and using an appropriate software package.
LO2 Calculate summary statistics by hand and using an appropriate software package, and provide interpretations for such values.
LO3 Perform a range of financial mathematical calculations by hand and using an appropriate software package.
LO4 Calculate index numbers by hand and using Excel and provide interpretations for such indices.
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).
Students should have taken an introductory course in Information Technology
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
Descriptive statistics
Measures of central tendency and measures of spread, advantages and disadvantages of each measure
Presentation of data
Tabulation, charts and graphs, including histograms, ogives, bar charts, pie charts and time series.
Index numbers
Calculation of simple indices and inflation/deflation using index numbers.
Business Calculations
Calculation and interpretation of ratios, percentages, mark-up, margin, VAT calculations.
Financial mathematics
Calculation and interpretation of compound interest, amortisations, AER and depreciation.
Laboratory
Use of an appropriate software package such as excel to solve problems in financial Mathematics, and to support visualisation and analysis of data.
Assessment Breakdown%
Course Work100.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions In class test 1,2 35.0 Week 7
Short Answer Questions In Class test 3,4 35.0 Week 13
Practical/Skills Evaluation Practical Assessment 1,2,3,4 30.0 Every Week
No End of Module Formal Examination
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 2.0 Every Week 2.00
Lab Computer practical 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Independent Learning 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture 2.0 Every Week 2.00
Lab Computer practical 1.0 Every Week 1.00
Independent Learning Independent Learning 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • W. M. Harper 2000, Statistics, 6REV ED Ed., Trans-Atlantic Publications [ISBN: 9780273634263]
  • Mark L. Berenson, David M. Levine, K.A. Szabat 2014, Basic business statistics, 13th Ed., Pearson [ISBN: 978-129206902]
Supplementary Book Resources
  • Andre Francis and B. Mousley 2014, Business Mathematics and Statistics, 7th Ed., Cengage Learning EMA [ISBN: 9781408083159]
  • Andre Francis and B. Mousley 2014, Business Mathematics and Statistics, 7th Ed., Cengage Learning EMA [ISBN: 9781408083159]
  • S.Taylor 2007, Business Statistics for Non-Mathematicians, 2nd Ed., Macmillan [ISBN: 9780230506466]
  • S.Taylor 2007, Business Statistics for Non-Mathematicians, 2nd Ed., Macmillan [ISBN: 9780230506466]
  • J.O. Bird 2014, Basic Engineering Mathematics, 6th Ed., Routledge London [ISBN: 9780415662789]
  • J.O. Bird 2014, Basic Engineering Mathematics, 6th Ed., Routledge London [ISBN: 9780415662789]
  • J.O. Bird 2014, Basic Engineering Mathematics, 6th Ed., Routledge London [ISBN: 97800809591]
  • J.O. Bird 2014, Basic Engineering Mathematics, 6th Ed., Routledge London [ISBN: 97800809591]
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_EABMT_8 Bachelor of Science (Hons) in Automotive Business Management and Technology 3 Mandatory
CR_TTMGT_7 Bachelor of Science in Automotive Technology and Management 3 Mandatory
CR_TTMAT_6 Higher Certificate in Engineering in Automotive Technology and Management 3 Mandatory

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Email: help@cit.edu.ie