MATH06034 2022 Business Mathematics & Statistics 1

General Details

Full Title
Business Mathematics & Statistics 1
Transcript Title
Business Maths & Stats 1
Code
MATH06034
Attendance
N/A %
Subject Area
MATH - Mathematics
Department
BUS - Business
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Aiden Bell, Kerry Dolan, Cillian OMurchu
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting SG_BEMBE_G06 201600 Higher Certificate in Business in Embedded Award BB(Hons) Finance and Investment SG_BFINA_H08 202200 Bachelor of Business (Honours) in Finance and Investment SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting SG_BFINA_B07 202200 Bachelor of Business in Finance and Investment SG_BFINA_B07 202200 Bachelor of Business in Finance and Investment
Description

This subject aims to provide learners with the necessary skills to gather, organise, analyse and present data.  It aims also to enable students to understand and assess quantitative information presented to them.    

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Demonstrate competence in numerical operations and algebraic manipulation

2.

Perform calculations in financial mathematics

3.

Solve Linear programming problems 

4.

Summarise and analyse statistical data

5.

Carry out a sample survey and be aware of a number of different sampling strategies

Teaching and Learning Strategies

The teaching and learning strategy is one which is founded on student-centered active learning. This module will be delivered by a mixture of face to face, online delivery and tutorial support as appropriate. Students will be supported in this module through the the use of various virtual learning environments.The student will develop and apply their learning through practical examples, case studies and exercise sheets.

 

Module Assessment Strategies

A series of assessments throughout the semester.

Repeat Assessments

The repeat assessment will involve a Repeat Exam.

Indicative Syllabus

 1. Basic Mathematics

  • Perform arithmetic operations using fractions
  • Perform calculations using percentages and ratios
  • Apply the laws of indices to expressions involving indices
  • Apply the rules of precedence in evaluating expressions
  • Use an electronic calculator
  • Simplify mathematical expressions and transpose formulae
  • Solve linear,quadratic & cubic equations and know how to plot their graphs
  • Solve exponential & logarithmic equations

2. Financial Mathematics

  • Calculate simple and compound interest
  • Analyse investments using NPV and IRR
  • Calculate annuities, periodic debt/mortgage repayments
  • Make out an amortization schedule

3. Data presentation and summarisation

  • Use various methods of representing data in graphical and tabular form
  • Calculate the mean, median and mode
  • Calculate the range, interquartile range, standard deviation,coefficient of variation and coefficient of skewness

4. Linear Programming

  • Formulate LP problems
  • Solve LP problems using graphical method

5. Sampling Theory

  • Distinguish between and describe random and non-random sampling methods
  • Outline the procedure to follow in conducting a sample survey

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Coursework Assessment Assessment 100 % OnGoing 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Not Specified Lecture 3 Weekly 3.00
Tutorial Not Specified Practical exercise based on preceeding lecture in small groups 1 Weekly 1.00
Independent Learning Not Specified Self study 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Recommended Reading
2013 Basic Statistics for Business and Economics
ISBN 0073521477 ISBN-13 9780073521473

Used book

Required Reading
2018 Business Mathematics
ISBN 0134693329 ISBN-13 9780134693323

For courses in Business Mathematics. Focuses on current issues, real companies, and pragmatic business scenarios Business Mathematics by Clendenen and Salzman teaches students the mathematical skills they need for success in business, emphasizing mastery of business concepts and scenarios that require a mathematical solution. With a strong focus on current issues, real companies, and pragmatic business scenarios, the authors cover the full spectrum of basic business math, placing every concept in context with relevant examples. Along with an updated MyLab(tm) Math course, the 14th Edition has been significantly revised to modernize the text, improve discussions, and make the material more meaningful to students. This revision is packed with data, examples, graphs, photographs, and case studies that demonstrate the material's relevance as it teaches students to interpret data and information. A global perspective is emphasized through examples and exercises that highlight issues in other countries. Also available with MyLab Math By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student. Note: You are purchasing a standalone product; MyLab Math does not come packaged with this content. Students, if interested in purchasing this title with MyLab Math, ask your instructor to confirm the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyLab Math, search for: 0135195969 / 9780135195963 Business Mathematics Plus MyLab Math with Pearson eText - Access Card Package Package consists of: 0134693329 / 9780134693323 Business Mathematics, 14e 0134836235 / 9780134836232 MyLab Math with Pearson eText - Access Card - for Business Mathematics, 14/e

Recommended Reading
2014-02-20 Business Mathematics (13th Edition) Pearson
ISBN 0321955056 ISBN-13 9780321955050

For courses in business math or the mathematics of business

 

Business Mathematics by Clendenen/Salzman teaches students the mathematical skills they need to be successful in business, emphasizing mastery of business concepts and scenarios that require a mathematical solution. With a strong focus on current issues, real companies, and pragmatic business scenarios, the authors cover the full spectrum of basic business math, placing every concept in context with relevant examples. With time-proven pedagogy, relevant business applications and case studies, and a strong MyMathLab course, this program teaches students mathematical skills and concepts within the context of business applications.

 

This text provides a better teaching and learning experience, for you and your students. Heres how:

  • Improve Results:  MyMathLab delivers proven results in helping students succeed and provides engaging experiences that personalize learning.
  • Grounded in the business world and actual companies:This text presents insights that reflect business realities that students will actually encounter in the business world.
  • Extensive usage of data and graphics: Helps students visualize, analyze, and discuss the information they are working with.
  • Excellent exercises: Gives students a variety of practice to help them understand and master the material.


Note: You are purchasing a standalone product; MyMathLab does not come packaged with this content. MyMathLab is not a self-paced technology and should only be purchased when required by an instructor. If you would like to purchase both the physical text and MyMathLab, search for:

  

0321937031 / 9780321937032 Business Mathematics plus MyMathLab with Pearson eText -- Access Card Package

Package consists of:   

0321431308 / 9780321431301 MyMathLab -- Glue-in Access Card

0321654064 / 9780321654069 MyMathLab Inside Star Sticker

0321955056 / 9780321955050 Business Mathematics

 

Required Reading
1920-01-24 Foundation Maths
ISBN 1292289686 ISBN-13 9781292289687

Deepen and broaden subject knowledge to set yourself up for future success Foundation Maths 7th Edition by Croft and Davison has been written for students taking higher and further education courses who may not have specialised in mathematics on post-16 qualifications, and who require a working knowledge of mathematical and statistical tools. By providing careful and steady guidance in mathematical methods along with a wealth of practice exercises to improve your maths skills, Foundation Maths imparts confidence in its readers. For students with established mathematical expertise, this book will be an ideal revision and reference guide. The style of the book also makes it suitable for self-study and distance learning with self-assessment questions and worked examples throughout. Foundation Maths is ideally suited for students studying marketing, business studies, management, science, engineering, social science, geography, combined studies and design. Features: Mathematical processes described in everyday language. Key points highlighting important results for easy reference Worked examples included throughout the book to reinforce learning. Self-assessment questions to test understanding of important concepts, with answers provided at the back of the book. Demanding Challenge Exercises included at the end of chapters stretch the keenest of students Test and assignment exercises with answers provided in a lecturer''s Solutions Manual available for download at go.pearson.com/uk/he/resources, allow lecturers to set regular work throughout the course A companion website containing a student support pack and video tutorials, as well as PowerPoint slides for lecturers, can be found at go.pearson.com/uk/he/resources New to this edition: A new section explains the importance of developing a thorough mathematical foundation in order to take advantage of and exploit the full capability of mathematical and statistical technology used in higher education and in the workplace Extensive sections throughout the book illustrate how readily-available computer software and apps can be used to perform mathematical and statistical calculations, particularly those involving algebra, calculus, graph plotting and data analysis There are revised, enhanced sections on histograms and factorisation of quadratic expressions The new edition is fully integrated with MyLab Math, a powerful online homework, tutorial and self-study system that contains over 1400 exercises that can be assigned or used for student practice, tests and homework Anthony Croft has taught mathematics in further and higher education institutions for over thirty years. During this time he has championed the development of mathematics support for the many students who find the transition from school to university mathematics particularly difficult. In 2008 he was awarded a National Teaching Fellowship in recognition of his work in this field. He has authored many successful mathematics textbooks, including several for engineering students. He was jointly awarded the IMA Gold Medal 2016 for his outstanding contribution to mathematics education. Robert Davison has thirty years'' experience teaching mathematics in both further and higher education. He has authored many successful mathematics textbooks, including several for engineering students. Note: You are purchasing a standalone product; MyLab Math does not come packaged with this content. Students, if interested in purchasing this title with MyLab Math, ask your instructor to confirm the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyLab Math search for: 9781292289762 / 1292289767 Foundation Maths 7th Edition plus MyLab Math with eText -- Access Card Package. Package consists of: 9781292289687 / 1292289686 Foundation Maths 7th Edition MyLab Math with Pearson eText -- ValuePack Access Card -- for Foundation Maths 7th Edition Pearson, the world''s learning company.

Required Reading
2017-10 Mathematics for Economics and Business
ISBN 129219166X ISBN-13 9781292191669

Mathematics for Economics and Business, 9e is the essential resource you need when studying mathematics as part of your economics, management or business course. Whatever your level of prior mathematical knowledge, ability or confidence, this book will guide you step-by-step through the key mathematical concepts and techniques you need to succeed. Starting with the basics, the book is designed to allow you to progress at your own pace, with a wealth of examples, practice exercises and self-test questions to check your understanding along the way. Worked examples throughout each chapter illustrate how mathematical concepts and techniques relate to the business world and encourage you to solve real problems yourself. Over 200 new questions have been added to this new edition, with answers provided, making it a fantastic resource for revision purposes. Additional online resources to support your learning, including an online homework and tutorial system can be accessed via MyLab Math, which accompanies this book. You need an access card and a course ID, issued by your lecturer.

Recommended Reading
2013-01-21 Quantitative Methods for Business Decisions Cengage Learning EMEA
ISBN 1408064987 ISBN-13 9781408064986

This established and popular text is regarded as one of the clearest and most comprehensive in its field. David Eadson has joined Jon Curwin and Roger Slater in the author team, and together they have sought to offer a more compact book with all the qualities of the previous six editions, whilst strengthening the links to online support materials. The new edition has been enhanced to reflect the latest learning plans and techniques, providing students with all the tools they need to pass the typical Quantitative Methods course. Each chapter focuses on a selection of statistical techniques, illustrated with examples from across business, marketing, economics, finance, and public administration, to appeal to students across the business spectrum. Whilst all core material is covered in the book itself, the online offering has been bolstered to include Parts 6-8 covering 'Modelling', 'Mathematical Topics' and 'Student Guides' respectively, in addition to a wide range of other resources including datasets and extra learning tools. Visual signposts throughout the text guide the student to the online platform to provide a seamless interaction between the two thus providing a multi-faceted learning experience. The wide-ranging coverage provided makes this the ideal text for the teaching of quantitative methods across all business disciplines at undergraduate, MBA, and post-experience levels. This textbook is autopackaged with CourseMate. CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook and the textbook-specific website. CourseMate includes an integrated eBook and interactive teaching and learning tools including quizzes, flashcards, videos, and more and an EngagementTracker, a first-of-its-kind tool that monitors student engagement in the course.

Recommended Reading
2012-12-31 Statistics for Business and Economics (12th Edition) Pearson
ISBN 032182623X ISBN-13 9780321826237

Statistics for Business and Economics, Twelfth Edition, meets today's business students with a balance of clarity and rigor, and applications incorporated from a diverse range of industries. This classic text covers a wide variety of data collection and analysis techniques with these goals in mind: developing statistical thinking, learning to assess the credibility and value of inferences made from data, and making informed business decisions.

 

The Twelfth Edition has been updated with real, current data in many of the exercises, examples, and applications. Exercises draw on actual business situations and recent economic events so that students can test their knowledge throughout the course. Statistics in Action case studies open each chapter with a recent, controversial, or high-profile business issue, motivating students to critically evaluate the findings and think through the statistical issues involved. A continued emphasis on ethics highlights the importance of ethical behavior in collecting, interpreting, and reporting on data.

Recommended Reading
2006-03-24 Using Statistics Gill & Macmillan Ltd
ISBN 0717140229 ISBN-13 9780717140220

This book uses practical worked examples and problems with answers, in an Irish context. It provides an insight into your processes, allowing you to understand them and ultimately improve them. It can be used alone or in conjunction with any statistical package of choice. Web support is provided for lecturers with PowerPoint slides, web links, and data sets for each chapter, which support all statistical software. This book is suitable for undergraduate students of business, science and engineering, post-graduate students, researchers and professionals. Comments from students: "Very well presented. The author made it seem very simple. The examples use real life, are easy to understand and interesting". "The author understands the worries students have, and knows our limits". "Examples are relevant and easy to relate to".

Module Resources

Non ISBN Literary Resources

Clendenen & Salzman, 2018, Business Mathematics (14th Edition)

Jon Curwin, 2013 Quantitative Methods for Business Decisions Cengage Learning EMEA

James Reilly, 2006 Using Statistics Gill & Macmillan Ltd

James T. McClave, 2012 Statistics for Business and Economics Pearson

Marchal & Wathen Lind, 2013 Basic Statistics for Business and Economics

Gary Clendenen, 2014 Business Mathematics Pearson

Journal Resources
URL Resources
Other Resources

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Additional Information

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