The aim of this module is to give students a solid grounding in key statistical techniques required to analyse effectively business data and data relevant for business. Indicative content:
• Maths and statistical skills for business; revision of algebra and basic mathematical functions.
• Summarising data with histograms, bar charts, frequency distributions, measures of central tendency and dispersion.
• Spreadsheets: features and functions of commonly-used spreadsheet software including: workbook, worksheet, rows, columns, cells, data, text, formulae, formatting, printing, , charts and graphs, data management facilities,
• Probability: The relationship between probability, proportion and percent, addition and multiplication rules in probability theory and Venn diagrams.
• Common Probability Density Functions.
• Sampling and its use in inference, and applications of sampling in business management.
• Regression and correlation: scatter plots; simple regression; interpreting computer output.
• Forecasting using spreadsheets.
• Hypothesis testing using z-scores and t-scores
• Simulations- random number generation
Total contact hours: 27
Private study hours: 123
Total study hours: 150
Main assessment methods:
On-Line Moodle Test (20%)
Individual Stats Report (1000 words) (20%)
Examination, 2 Hour (60%)
Reassessment method:
100% examination
Freeman J. et al. (2014) Statistics for Business and Economics. London: Cengage Learning
Swift L. and Piff S. (2014) Quantitative Methods for Business, Management & Finance. Basingstoke: Palgrave Macmillan
See the library reading list for this module (Medway)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Summarise and analyse data and present it effectively to others.
- Use statistical techniques to draw well-founded inferences from quantitative data.
- Identify sources of published statistics, understand their context and report on their wider relevance.
- Apply key mathematical formulae to calculate financial variables for decision-making.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate numeracy and quantitative skills.
- Scan and organise data and abstract meaning from information.
- Work and study independently, and utilise resources effectively.
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