Mathematics for Business

Module title	Mathematics for Business
Module code	INT0034
Academic year	2018/9
Credits	20
Module staff	Joaquin Navarrete Navarro (Convenor)

Duration: Term	1	2	3
Duration: Weeks	12

Number students taking module (anticipated)	100

Description - summary of the module content

Module description

It is essential for a manager in today’s business environment to be able to interpret statistical data and present statistical information. In this module you will learn how to describe, understand and present situations graphically and how to draw conclusions from such representations. You will learn how to carry out essential business calculations that are common in your business studies modules and how to make the best decision from a set of different possibilities.

Module aims - intentions of the module

This module aims to provide a foundation in mathematics and data handling methods for students who intend to follow a degree programme in Management or Accounting. Students will be expected to manage their time successfully in order to complete a series of coursework and other tasks.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

1. Demonstrate an understanding of basic numerical principles
2. Apply basic algebraic techniques
3. Draw and interpret graphs and other statistical diagrams
4. Apply mathematical techniques to a range of real life situations
5. Select the optimal solution to a business related problem

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

6. Carry out calculations necessary for the discipline studied
7. Manipulate formulae appropriate to the discipline studied
8. Present and interpret data in an appropriate manner for the discipline studied

ILO: Personal and key skills

On successfully completing the module you will be able to...

9. Analyse, interpret and illustrate data using a variety of techniques
10. Collect data avoiding common mistakes
11. Use appropriate software to create tables and charts
12. Communicate effectively in the written form
13. Organise your own time in order to carry out set tasks by a given deadline

Syllabus plan

1. Number: fractions, decimals, percentages, mixed numbers, approximation, decimal places, significant figures, currency conversion, percentage change, indices.

2. Algebra: multiplication, factorization, substitution, rearranging formula, solving equations, linear inequalities.

3. Coordinate geometry: equation of a straight line, quadratic curves, translations of curves.

4. Linearly Constrained Optimisation.

5. Series: sigma notation, arithmetic, geometric progressions, compound interest problems.

6. Probability: Simple events with or without replacement, Venn diagrams, Tree diagrams.

7. Statistics: the statistical process, population and sample.

Data collection methods, Sampling methods, sampling error.

Organisation of data, tally charts, frequency tables.

Comparison of data sets and drawing conclusions.

Measures of location, Measures of dispersion, outliers.

Presenting data: Moving averages, trend lines, Stem and leaf diagrams, Gantt charts, Bar charts, Pie charts, Box and Whisker diagrams, Histograms, Cumulative frequency graphs, Scatter graph.

8. The normal distribution

Learning and teaching

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
60	140

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled Learning and Teaching activities	60	Small group lessons, including lectures, examples, practice and use of computing techniques.
Guided independent Learning	140	Study written notes, practise examples, use resources supplied on ELE and other on-line learning material.

Assessment

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
20	80	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Coursework assignments	20	15 Hours	1-11, 13	On-line feedback immediately after submission.
Mid-Term Examination	20	1.5 Hours	1-7	Written feedback on ELE
Final Examination	60	2 Hours	1-10, 12-13	Written feedback on formal submission.

Re-assessment

Details of re-assessment (where required by referral or deferral)

Original form of assessment	Form of re-assessment	ILOs re-assessed	Timescale for re-assessment
Examinations and Coursework	One Examination	1-13	Notified at commencement of module.

Re-assessment notes

The grade for the referred exam, and therefore the module grade, will be capped at 40%. Re-assessment will not include coursework marks or mid-term exam marks. Resubmission of coursework is impractical since coursework answers are made available to students at the close of original submission.

Deferred exams will not be capped and will include all summative coursework and examination marks in the final module grade.

Resources

Indicative learning resources - Basic reading

Basic reading:

Croft A. and Davison R. Foundation Maths. London: Pearson 987 1 292 095172

Attwood G., et al: Statistics and Mechanics: Edexcel AS and A level Mathematics. London: Pearson978 1 292 232539

Attwood G., et al: Pure Mathematics: Edexcel AS and A level Mathematics. London: Pearson978 1 292 183398

Indicative learning resources - Web based and electronic resources

ELE – http://vle.exeter.ac.uk/course/view.php?id=7308

Module has an active ELE page

Indicative learning resources - Other resources

Other resources: www.Integralmaths.org

Key words search

Mathematics for Business, Statistics, Data handling, Algebra, Number, Optimisation, Series, Compound Interest.

Credit value	20
Module ECTS	10
NQF level (module)	3
Available as distance learning?	No
Origin date	08/05/2018