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Business Mathematics and Statistics (9165.1)

Level: Level 1 - Undergraduate Introductory Unit
Credit Points: 3
HECS Bands: 2, 4
Faculty: Faculty of Education, Science, Technology & Maths
Discipline: Academic Program Area - Maths & Technology


    Unit Outlines

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    • Semester 2, 2016, ON-CAMPUS, UC-MELB (150704) - View
    • Semester 1, 2015, ON-CAMPUS, UC-MELB (145311) - View

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    In this unit students study the purpose of using analytical tools to make business decisions. The analytical tools include the use of spreadsheets, tables and statistical/financial calculators to solve problems including percentage calculations, measures of central tendency and dispersion, measures of association and probability. Students investigate the fundamentals of business mathematical functions and are required to use the analytical tools to address a range of mathematical topics. Statistical functions and tools are used for providing statistical analysis of business problems.

    Learning Outcomes

    On completion of this unit students will be able to:

    1. perform percentage adjustments to common commercial situations including depreciation calculations and those requiring algebraic manipulation of formulae;

    2. plot and interpret straight line graphs, apply them to business decision-making and discuss the significant features of non-linear graphs;

    3. identify the role of statistics in business and the analytical tools available for making business decisions;

    4. demonstrate correct usage of measures of central tendency and measures of dispersion to describe data and perform analysis of data based on the results of these measures;

    5. use measures of association to evaluate statistical relationships between different factors and determine the validity of these results;

    6. apply probability calculations and normal distribution techniques to calculate probabilities for business scenarios.

    Assessment Items

    Contact Hours

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