|| AC10410 |
|| QUANTITATIVE METHODS FOR ACCOUNTING AND BUSINESS |
|| 2007/2008 |
|| Mr Alan Jones |
|| Semester 2 |
|| Mrs Glenda Roberts |
|| EC10910 |
| Course delivery
|| Lecture || 18 Hours. (18 x 1 hour lectures) |
|| Seminars / Tutorials || 6 Hours. (6 x 1 hour tutorials) |
|| Practical || 2 Hours. (2 x 1 hour computer practicals) |
|Assessment Type||Assessment Length/Details||Proportion|
|Semester Exam||2 Hours (written examination) ||80%|
|Semester Assessment|| continuous assessment ||20%|
|Supplementary Exam||2 Hours Written exam ||100%|
On completion of this module, a student should be able to:
Summarise and present a data set;
Calculate various summary measures for grouped and ungrouped data;
Construct and interpret statistical diagrams;
Fit a straight line to suitable data;
Calculate and interpret correlations;
Describe and illustrate basic probability concepts;
Calculate and interpret expectations;
Solve simple linear programming problems;
Use and interpret the output from statistical software.
1. STATISTICAL DIAGRAMS: pie charts; simple multiple and stacked barcharts; histograms; cumulative polygons; stem and leaf diagrams
2. SUMMARY MEASURES: minimum, maximum, median, quartiles, percentiles; five number summaries and box-and-whisker plots; mean and mode; variance and standard deviation; calculations from grouped data.
3. SCATTERPLOTS, REGRESSION AND CORRELATION : scatterplots; the idea of a line of best fit; importance of the mean point; least squares regression; the existence of two regression lines for bivariate data; correlation and its measurement; the (product moment) correlation coefficient; Spearman'r rank correlation.
4. PROBABILITY: definition and properties; unions and intersections; mutually exclusive events; the addition law; independent events; the multiplication law; equally likely outcomes; conditional probability; binomial probabilities.
5. LINEAR PROGRAMMING: equations of straight lines; formulating simple linear programming problems; feasible regions; the objective line; deducing the optimum.
The computer package MINITAB: introduction, producing and interpreting diagrams and tables, producing and interpreting summary measures; regression and correlation.
To introduce students to quantitative methods and to appreciate their importance in business.
This module introduces statistical methods and the application of formal decision models in a business context, together with the use of statistical computer software. The software package MINITAB is used in practical classes.
** Supplementary Text
Swift, Louise. (2001.) Quantitative methods for business, management and finance /Louise Swift.
** Consult For Futher Information
Croft, Anthony (1997.) Foundation maths /Anthony Croft, Robert Davison.
Addison Wesley 0201178044
Curwin, J, and Slater, R, (1996) Quantitative Methods for Business Decisions
5/e. International Thomson Business Press 1861520271
Curwin, Jon (2000.) Improve your maths :a refresher course /Jon Curwin and Roger Slater.
Business Press 1861525516
This module is at CQFW Level 4