Due to Covid-19 students should refer to the module Blackboard pages for assessment details
|Assessment length / details
On successful completion of this module students should be able to:
* Apply mathematical and algebraic methods to solve problems.
* Identify the nature and position of turning points for simple polynomial functions.
* Summarise and present a data set.
* Calculate various summary measures for ungrouped and grouped data.
* Construct and interpret statistical diagrams.
* Fit a straight line to suitable data using the method of least squares.
* Calculate and interpret correlations and autocorrelations.
* Calculate basic probabilities.
* Use statistical tables.
* Calculate binomial and normal probabilities.
* Carry out and interpret the results of basic statistical tests.
* Solve simple linear programming problems.
* Calculate simple and compound interest, equivalent rates of compound interest, and present and future values.
* Use and interpret the outcome from a statistical package.
This module is a core module to the SMB N400 (Accounting and Finance) and N310 (Business Finance) UG degrees; and core to the Accounting and Finance 'rajor? and 'roint?. It covers numerical, mathematical and statistical topics which are essential subject matter within any high-quality undergraduate degree in accounting and/or finance; and which are, in particular, essential to underpin significant content at part 2.
The module introduces a number of quantitative techniques and the use of statistical computer software. The importance of quantitative methods in informing analysis and good decision making and in the effective running of organizations cannot be underestimated. The module provides the opportunity to for all to build and improve numerical, mathematical and statistical skills, and apply these to practical problems in the context of finance, economics and business.
- Mathematical techniques
Arithmetic and algebra to include: handling arithmetic operations; brackets, re-arranging and simplifying equations; solving linear, quadratic and simultaneous equations; and sketching graphs of functions from linear to exponential.
Rate of change, slope of a line and using differentiation.
- Statistics and probability
Summary statistics including: mean, mode and median; range, quartiles and percentiles; and variance and standard deviation.
Scatterplots, covariance, correlation, autocorrelation and univariate and multivariate regression.
Data representation/statistical diagrams including: line charts, bar charts, histograms, cumulative polygons, box and whisker plots and stem and leaf diagrams.
Simple probability including: mutually exclusive and independent events; conditional probability; the addition and multiplication laws; expected value
Binomial and normal distributions and use of statistical tables.
Hypothesis testing and tests of significance to include one-tailed and two-tailed tests.
Using a statistical package.
- Simple linear programming
Sketching the feasible region, and identifying and interpreting the optimal solution.
- Financial mathematics
Calculating equivalent rates of compound interest.
Calculating present value and future value using compound interest.
|Application of Number
|Core to the module. Includes: Develop an easy familiarity with numerical data sources and numerical data Apply numerical data to problem solving with care and accuracy Assess the reasonableness of and interpret numerical solutions Support assertions/arguments with appropriately developed and presented numerical data Calculate and use a variety of statistics Apply mathematical formulae
|Written answers to exercises must be clear and well structured. Good listening skills are also essential and students will develop confidence in oral communication during the tutorials.
|Improving own Learning and Performance
|Identify and distil the key issues covered by lectures, tutorials and exercises Identify and use a range of learning resources Structure study to accommodate intensive learning, completion of work on time and necessary preparation between lectures
|The practical sessions will involve using and interpreting the results from a statistical package.
|Personal Development and Career planning
|Develop numerical, mathematical and statistical skills which are useful/essential in a number of different occupations; and in personal financial planning and management
|Core to the module. Includes: Identify the precise problem to be solved Assess which data are pertinent to the problem Recognize that alternative solution methods might be available Select and apply appropriate methods for solving the problem Assess the reasonableness of problem solutions and interpret those solutions
|Identify which information sources are available to: facilitate module study (understanding, wider reading) provide data which allow application of module learning in a real world context
|Subject Specific Skills
|Develop competence in numerical, mathematical and statistical skills necessary to further study Develop competence in statistical software
|Students will be encouraged to work together on questions during the example classes and in practical sessions.
This module is at CQFW Level 4