| DPS 51280 | 36 hours |
The course is designed to provide the basic concepts and techniques of mathematics and statistics needed to understand, analyze, and solve economics, finance, and business-related problems. The course is broken down into two parts; the first component will cover business mathematics, and the second one will cover Business Statistics. Topics cover the basic mathematics, the mathematics of merchandising, break-even analysis, simple and compound interest, annuities, bonds, investment mathematics, amortization, sinking funds, Linear and non-Linear equations, functions, differential calculus, optimization, linear programming, descriptive statistics, sampling methods, design of experiments, index numbers, regression analysis, probability theory, probability distributions, and statistical quality control.
Outcomes
Upon successful completion of this course, students should be able to:
- Apply the use of mathematical and statistical techniques in business.
- Apply functions and inequalities.
- Explain the use of integral calculus.
- Apply mathematics of finance.
- Use linear programming and optimization in business.
- Explain the use of index numbers.
- Gather, organize, present, and interpret statistical data.
- Conduct statistical hypothesis tests for means and proportions.
- Conduct regression analysis and make predictions.
- Conduct time series analysis.
- Apply concepts of probability theory and probability distributions.
- Apply concepts of statistical quality control methods in business.
- Apply different methods of sampling and experimental design in business and marketing research.
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