One Semester or Term

48 Hours

Hawthorn, Sarawak

offered to students who have not completed a year 12 VCE mathematics unit

Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A unit of study in the Bachelor of Business (only available to students whose highest level of mathematics does not exceed VCE Further Mathematics).

Aims & Objectives:

• Understand concepts of random variables, probability distribution and be able to apply them
• Summarise quantitative and qualitative data in graphical and numerical forms and interpret cross-tabulations of two and three variables
• Calculate and interpret standard deviations, coefficients of correlation and determination, lines of best fit, simple probabilities and confidence intervals for a mean and for a proportion
• Analyse the time series using the multiplicative model and forecast and calculating Index Numbers, and find point estimates of population parameters
• Solve financial problems concerning compound interest, mortgages, annuities, loans and investment
• Carry out and interpret tests of hypotheses or relationships using z-tests, t-tests, or Chi-square tests

Teaching Methods:

Lecture/seminars (3 hours), Tutorials (1 hour)

Assessment:

Test (25%), Data Analysis (15%), Examination (60%)

Generic Skills Outcomes:

• Capable in their chosen professional, vocational or study areas
• Entrepreneurial in contributing to innovation and development within their business, workplace or community
• Effective and ethical in work and community situations
• Adaptable and able to manage change
• Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

Content:

• Financial Mathematics
• Descriptive Statistics
• Introduction to Probability
• The Normal Distribution
• Sampling and Estimation
• Testing Hypotheses
• Correlation and Regression
• Time Series
• Index Numbers

Reading Materials:

• HMB110/HMB111 Quantitative Analysis Notes