Module Delivered in
| Short Title: | Business Mathematics 2 |
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| Full Title: | Business Mathematics 2 |
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| Description: | The aim of this module is to provide the student with the necessary knowledge, information and awareness of the mathematical content within the business environment. |
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| Learning Outcomes: |
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| On successful completion of this module the learner will be able to | - Calculate probabilities using the normal probability distribution
- Estimate population parameters and test hypotheses
- Calculate the value of investments, annuities and repayments
- Calculate trends and forecast future values in time series.
- Describe price changes using index numbers.
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Module Content & Assessment| Content |
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The Normal Probability Distribution (20%) Continuous random variables. The standard normal distribution and z-scores. Normal probabilities for any mean and standard deviation. Sampling, Estimation and Hypothesis Testing (20%) Random sampling. Non-random sampling: systematic, cluster, stratified ad quota sampling. Bias. The central 95% of a normal distribution. Point estimates. Confidence interval estimates. Two sided hypothesis tests. Sample size. The t-distribution and t-tests. Financial Mathematics (20%) Simple and compound Interest. Present value. Nominal and effective rates of interest. Annuities. Net present value and investment appraisal. Bonds. Forecasting Techniques (20%) Time series. Components of a time series. Calculation of trend and seasonal variations. Deseasonalised data. Forescasting Index Numbers (20%) Construction and use of index numbers. Laspeyres, Paasche’s and Fisher’s indices. Change of base. Deflation of data
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| Assessment Breakdown | % |
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| Course Work | 30% | | End of Semester Formal Examination | 70% |
| | Outcome addressed | % of total | Assessment Date |
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| Formal End-of-Semester Examination | 1,2,3,4,5 | 70% | Semester End |
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| Coursework Breakdown |
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| Type | Description | Outcome addressed | % of total | Assessment Date |
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| Other | The continuous assessment will be one individual assessment taken mid-semester. It will be an in-class exam, one hour in duration | 1,2 | 30 | n/a |
IT Tallaght reserves the right to alter the nature and timings of assessment Module Workload & Resources| Workload | Full-time |
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| Type | Description | Hours | Frequency | Average Weekly Learner Workload |
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| Lecture | Class Based Instruction | 3 | Every Week | 3.00 | | Total Weekly Learner Workload | 3.00 | | Total Weekly Contact Hours | 3.00 |
| Resources |
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| Required Book Resources |
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- James Reilly 2006, Using Statistics, Gill & Macmillan
| | Recommended Book Resources |
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- Andre Francis 2005, Business Mathematics and Statistics, 6th Ed., Thompson
- Jenkins, G.W. & Slack, J.L 1988, Statistics and Probability,, Heinmann Educational Books
- Owen, F. & Jones, R. 1990, Statistics, 3rd Ed., Pitman Publisihing
| | Other Resources |
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- Website: n/a
- Website: n/a
- Website: n/a
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