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Introduction
to Quantitative Methods
Aims
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Apply the rules of
numeracy.
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Carry out basic numerical
calculations with or without a calculator.
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Use elementary algebra.
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Present and use mathematical data
in graphical form.
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Present and analyse simple
business data.
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Apply statistical analysis to
business data.
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Use the laws of probability.
Programme Content and Learning
Objectives:
After completing the programme
students should be able to:
1. Demonstrate the rule of numeracy
by:
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applying
the four rules to whole numbers, fractions and decimals
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expressing
numbers in standard form
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multiplying
and dividing negative numbers
2. Apply calculations to:
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compare
numbers using ratios, proportions and percentages;
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obtain
values for simple financial transactions involving purchases, wages, taxation, discounts;
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calculate
values using simple and compound interest;
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convert
foreign currency;
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make
calculations involving roots and powers;
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evaluate
terms involving a sequence of operations and use of brackets;
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Interpret,
transpose and evaluate formulae;
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approximate
data using rounding, significant figures.
3. Use algebraic methods to:
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solve
linear and simultaneous equations;
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solve
quadratic equations using factorisation and formulae;
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determine
the equations of a straight line through two points;
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determine
the gradient and intercept of a straight line.
4. Construct and use:
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charts and diagrams derived from
tabular data;
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graphs applying general rules and
principles of graphical construction including axes, choice of scale and zero. Identify points of importance e.g. maximum, minimum and
break even.
5. Apply statistical methods to:
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distinguish and use sigma continuous
variables;
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represent and interpret variables using
histograms and cumulative frequency curves;
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recognise and use sigma notation for
summation;
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calculate and interpret summary
statistics: these would include measures of location (mean, mode, median), measures of dispersion (range, interquartile range, standard
and deviation, coefficient of variations) and measures of skewness;
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construct statistical graphs for time
series, identifying trends, seasonal and random components;
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determine a trend using moving averages
and make a simple forecast.
6. Apply the laws of probability to:
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mutually exclusive, independent and
dependent events;
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determine probability using sample
spaces, contingency tables or tree diagrams;
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determine probability using the normal
distribution including use of tables.
Method of Assessment:
By written examination. The pass mark is 40%. Time allowed 3 hours.
The question paper will contain:
Two sections:
Section A contains four
questions
on parts 1 to 4 of the programme content, of which three
must be answered.
Section B contains three
questions
on parts 5 and 6 of the programme content, of which two
must be answered.
All questions carry 20 marks.
Students may use electronic calculators for most
questions, but are reminded of the importance of showing detailed steps in calculations.
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