The Business Statistics and Mathematics 2 module is designed to build upon the foundational knowledge acquired in Business Statistics 1, which was covered in the first semester. Learners will deepen their understanding of key concepts such as statistical inference, hypothesis testing, regression analysis, and linear programming. This module aims to equip learners with the advanced analytical tools necessary for effective data-driven decision-making in the business context.
Business Statistics and Mathematics 2
Probability Distribution
Using Statistical Inference
Correlation and Simple Regression Analysis
Linear Programming
Where the combined marks of the assessment and examination do not reach the pass mark the learner will be required to repeat the element of assessment that they failed. Reassessment materials will be published on Moodle after the Examination Board Meeting and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.
The objective of this module is for learners to proficiently understand and apply both discrete and continuous probability distributions, including Poisson, Binomial, Normal, and t-distributions. They will calculate and interpret confidence intervals for population means and proportions, conduct hypothesis testing for informed decisions, and use correlation and regression analysis for identifying and predicting variable relationships. Additionally, learners will apply linear programming techniques to solve optimization problems, formulating and solving real-world scenarios graphically for maximization and minimization objectives.
