BUSN9115 Quantitative Methods

The topic provides an introduction to basic mathematical and statistical techniques useful in accounting, management, finance and economics. Subjects covered include a basic algebra review, simple functions and their graphical representation, mathematical finance, data presentation, descriptive statistics, sample design, elementary probability, the normal distribution, sampling distributions, confidence intervals, hypothesis testing, simple regression analysis and analysis of covariance.

This topic aims to define measurable data and information. Theory will be illustrated with worked examples, and mathematical and statistical techniques will be applied to real world problems with a business focus. Computing workshops are an important component of the topic. In the workshops the spreadsheet program Microsoft Excel will be used to solve problems in financial mathematics and carry out statistical analyses.

1. Describe and apply quantitative analytical techniques in financial mathematics and statistics
2. Present quantitative data in summarised and graphical formats suitable for management
3. Describe and interpret measures of central tendency and dispersion
4. Undertake sample surveys and critically interpret survey results
5. Carry out hypothesis testing procedures and interpret the results
6. Perform and interpret regression analysis and Chi-square tests
7. Explain tests of goodness of fit and differences in population bases, on nominal data
8. Use Excel spread sheets to perform statistical and financial mathematics procedures and to present results in formats appropriate for business professionals
9. Use their initiative and creativity to apply their knowledge and technical skills of quantitative methods to solve ‘real world’ problems