## QUANTITATIVE BUSINESS MODELLING (INTO)

 SHE Level 2 SCQF Credit Points 20.00 ECTS Credit Points 10.00 Module Code M2G121378 Module Leader Faridon Amdjadi School INTO Subject INTO Trimesters A (September start) B (January start)

### Pre-Requisite Knowledge

Standard grade credit level Mathematics or equivalent Information and Data Analysis

### Summary of Content

This modules aims to: introduce quantitative modelling with applications to decision making in business; introduce the use of Excel as an analytical tool for modelling quantitative business problems; introduce basic descriptive and inferential statistics, correlation and regression.

### Syllabus

Algebra, functions, graphs, mathematical modelling. Polynomial, exponential and logarithmic functions. Indices. Arithmetic and geometric series. Simple and compound interest. Discounting, annuities, sinking funds, depreciation , rates of return, nominal and effective interest rates. Descriptive Statistics: Computer-based numerical and graphical summaries. Probability and Probability Distributions: Definitions of probability. Probability laws. Bayes' formula. Overview of probability distributions. Expectation - Mean and variance. Normal distribution Statistical Inference: Populations and samples. Sampling distribution of the mean. Central Limit Theorem. Point and interval estimation of population mean for large/small samples. Hypothesis testing: null/alternative hypotheses; type I/II errors; p-value of a test; one sample tests on means (large and small samples). Regression Analysis: Simple and multiple linear regression models. Point and interval estimation and tests associated with parameters.

### Learning Outcomes

Upon completion of this module the student should be able to:- manipulate mathematical expressions relevant to business problems;- sketch and interpret graphs of functions used in modelling business problems;- carry out financial calculations using APs and GPs;- apply appropriate tabular and graphical methods of data presentation and calculate and interpret appropriate summary statistics;- calculate probabilities using the rules of probability and the Normal distribution ;- conduct a variety of standard statistical hypothesis tests;- conduct and interpret simple and multiple linear regression analyses using Excel.

### Teaching / Learning Strategy

A combination of lectures, seminars and computer laboratories. Lectures will be supported by computer laboratories/seminars with assessment in the form of Excel-based coursework and a class test. Applications to business will be emphasised throughout the module.

### Indicative Reading

Anderson D R, Sweeney D T and Williams T A (1995) Quantitative Methods for Business, 6th edition, West Curwin J and Slater R (1991)Quantitative Methods for Business Decisions, Chapman and Hall Keller G (2001) Applied Statistics with Microsoft Excel, Duxbury Press Waters D (1997) Quantitative Methods for Business, 2 ed, Addison-Wesley Webster A (1992) Applied Statistics for Business and Economics, Irwin

### Transferrable Skills

D1 Critical thinking and problem solving. D2 Cognitive/intellectual skills. D3 Knowledge and understanding in the context of the subject. D5 Time management: organising and planning work. D6 Independent working. D12 IT skills (including GCU Certificate in Basic ICT Competency). D13 Communication skills, written, oral and listening. D14 Numeracy skills.

### Module Structure

Activity Total Hours
Practicals (FT) 12.00
Seminars (FT) 12.00
Lectures (FT) 36.00
Assessment (FT) 20.00
Independent Learning (FT) 120.00

### Assessment Methods

Component Duration Weighting Threshold Description
Coursework 1 n/a 10.00 35% Excel-based descriptive statistics
Exam (School) 1.00 30.00 35% Mathematics
Exam (School) 1.00 35.00 35% Inferential Statistics
Coursework 2 n/a 25.00 35% Regression Analysis