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Parent Programme
Bachelor of Business (Level 7 NFQ)
MODULE NFQ
Level 6
MODULE CREDIT UNITS
ECTS: 10
MODULE TITLE
Business Statistics & Mathematics
Reference Code: BB7 604
STAGE
Year 1
Fall Semester 1
12 Weeks Full-Time X 6 Hours per week
12 Weeks Part-Time X 4 Hours per week

Minimum Intended Learning Outcomes (MIMLOs)

Upon successful completion of this module, the learner should be able to:
LO 1
Apply Financial Mathematics concepts with application to present value and depreciation, sinking funds, annuities and mortgages.
LO 2
Calculate different measures of central tendency and dispersion, different measures of central tendency and dispersion.
LO 3
Discuss the reasons why quantitative methods are important in business decision-making.
LO 4
Apply the concept of Probability in assessing the risk factor in the decision making process, and in Statistical Inference.
LO 5
Solve business problems in Linear Programming terms using inequalities and graphical methods

Assessment

MIMLOs
Assessment
Percentage
1, 2
CA1
30%
5, 5
CA2
30%
3, 4, 5
Final Examination
40%

Reassessment Opportunity

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 and will be aligned to the MIMLOs and learners will be capped at 40% unless there are personal mitigating circumstances.

Business Statistics and Mathematics

Aims & Objectives

Gain knowledge and mathematical skills that will help to analyse, evaluate and find solutions to business problems.

  • Develop simple mathematical models which attempt to describe a business problem by a number of equations or mathematical procedures.
  • Understand the importance of quantitative methods in business decision-making.
  • Understand and apply the concept of Probability in assessing the risk factor into decision making process, and in Statistical Inference.
  • Gain knowledge in Matrix, Linear Programming, Simple Game theory and Calculus.
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