The Business Statistics and Mathematics module equips learners with essential skills for performing fundamental financial calculations, including compound interest, annuities, and mortgages, and emphasises their application in solving real-world business finance problems. The module covers data presentation techniques, focusing on designing surveys and questionnaires, selecting appropriate sampling methods, and effectively presenting both categorical and continuous data. Additionally, it introduces basic probability concepts, including the construction and interpretation of probability trees, application of Bayes' Theorem, and understanding discrete probability distributions such as Poisson and Binomial, all crucial for risk assessment and decision-making.
Business Statistics and Mathematics
Financial Mathematics
Quantitative Information
Presentation of Data
Measure of Location
Measure of Dispersion
Introduction to Probability
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 objectives of this module are to enable the learner to apply complex financial mathematics concepts to analyse and solve business finance problems, design, conduct, and evaluate surveys and questionnaires for business research using suitable sampling techniques, and present and interpret business data effectively using various statistical methods, including measures of location and dispersion. Additionally, learners will understand and apply fundamental probability concepts and distributions to assess risks and make informed business decision.
