Module Identifier AC10410
Module Title QUANTITATIVE METHODS FOR ACCOUNTING AND BUSINESS
Co-ordinator Mr Alan Jones
Semester Semester 2
Other staff Mrs Glenda Roberts
Mutually Exclusive 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
Assessment TypeAssessment Length/DetailsProportion
Semester Exam2 Hours (written examination)  80%
Semester Assessment continuous assessment  20%
Supplementary Exam2 Hours Written exam  100%

#### Learning outcomes

On completion of this module, a student should be able to:
1. Summarise and present a data set;
2. Calculate various summary measures for grouped and ungrouped data;
3. Construct and interpret statistical diagrams;
4. Fit a straight line to suitable data;
5. Calculate and interpret correlations;
6. Describe and illustrate basic probability concepts;
7. Calculate and interpret expectations;
8. Solve simple linear programming problems;
9. Use and interpret the output from statistical software.

#### Content

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.

#### Brief description

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.

#### Aims

To introduce students to quantitative methods and to appreciate their importance in business.