This subject is designed to provide students with an appreciation of the application of analytical tools to business decision contexts. It also develops students’ abilities to access and critically interpret mathematics and statistics information. The subject places strong emphasis on developing a clear theoretical understanding of various analytical tools. This is particularly true in business where learning to deal with randomness, variation and uncertainty is a vital skill for anyone intending to apply their knowledge in any employment. Students will also gain an introduction to many of the quantitative techniques which will be used throughout their further studies in their chosen discipline. Topics studied include;
• Introduction to Quantitative Methods Mathematics of Finance: Simple & Compound Interest
• Annuity & Amortisation
• Linear Programming
• Introduction to Statistics and Descriptive Statistics
• Probability and Discrete Probability Distributions
• Continuous Probability Distribution and Sampling Distribution
• Confidence Interval
• Hypothesis Testing - One Population
• Hypothesis Testing – Two Population
• Chi Square – Goodness-of-fit tests and Contingency Tests
• Simple Linear Regression and Correlation
• Multiple Regression Model

Action Learning. Learning is achieved by engaging students in activities that have elements of problem solving combined with intentional learning.

Authentic Learning. Students will be presented with activities that are framed around "real life" contexts in which students will find learning more meaningful and motivating. Thus they will be more engaged in the process of acquiring knowledge.

Assessment strategy will be both formative and summative. Formative assessment strategies are used to test the current level of understanding and progress and to provide feedback to teacher and learner and to guide the next phase of learning. Types of formative assessments for this course will be discussions on tutorial questions, short quizzes and assignments. Summative assessment is used both in the mid and at the end of the programme formally to assess a learner’s skill, knowledge and understanding gained in this course.

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Final Examination (duration 1 Hour). This will be a closed book exam - 100%
Learning outcomes 1, 2, 3, 4 & 5.

BUV VLE

Main Texts:
David F. Groebner, Patrick W. Shannon, Philip C. Fry, Kent D. Smith. Business Statistics - A Decision Making Approach, 8th Edition (International Edition). Prentice Hall. 2011.
“Chapter 3 and 5” of Raymond A. Barnett, Michael R. Zieglar & Karl E. Byleen. College Mathematics for Business, Economics, Life sciences, and Social Sciences, 11th International Edition. Pearson Publication. 2008.

Additional Texts:
Clare Morris. Quantitative Approaches in Business Studies, 7th Edition. Prentice Hall. 2008.
Prem S. Mann. Introductory Statistics, 6th Edition. John Wiley and sons, Inc. 2007.
Lind, A.L., Mason. R.D., and Marachal, W.G. Statistical Techniques in Business and Economics, 12th Edition. Irwin McGraw-Hill. 2005.

1. INTERPRET RESULTS OF QUANTITATIVE ANALYSIS FOR BUSINESS DECISION-MAKING
Knowledge and Understanding

2. DEMONSTRATE THE USE OF APPROPRIATE STATISTICAL TECHNIQUES FOR MANIPULATING AND ANALYZING BUSINESS DATA
Knowledge and Understanding, Application

3. DEFINE THE BASIC STATISTICAL PRINCIPLES AND THEIR LIMITATION IN THE CONTEXT OF POSING A HYPOTHESIS, COLLECTING, ANALYZING AND INTERPRETING THE RESULTS
Analysis, Problem Solving

4. DIFFERENTIATE BETWEEN VARIOUS TYPES OF STATISTICAL INFORMATION AND REPORTING
Analysis, Problem Solving

5. USE A COMPUTER-BASED DATA ANALYSIS PACKAGE TO CRITICALLY ANALYZE DATA INCLUDING APPROPRIATE TECHNIQUES IN ORGANIZING AND PRESENTING DIFFERENT TYPES OF DATA
Application, Communication