First year module
Lecturer: Rob Fleming
The role of this module is to develop skills that students will require elsewhere on the programme and in business. The module consists of the following:
Semester 1 concerns the application of mathematics to a range of finance, accounting and business problems, including savings accumulation, loan repayment, project evaluation, depreciation and linear programming, project planning and inventory control.
Semester 2 is an introduction to Statistics: Descriptive statistics and frequency distributions. Discrete probability distributions; the binomial and Poisson distributions. Continuous distributions: the Normal and exponential distribution. Interval estimation. Simple hypothesis testing. Correlation and simple regression.
Also included is the use of relevant Excel functions and routines.
By the end of the module students should be able to:
- Execute a range of financial calculations
- Formulate and solve LP problems
- Solve a basic inventory model
- Calculate summarising statistics and plot appropriate graphs and charts
- Use and interpret discrete and continuous probability distributions
- Apply the basic principles of hypothesis testing
- Carry out simple correlation and regression analysis
- 3 hr examination, coursework assignments