# Introduction to Quantitative Analysis

## Course summary

Course code: MATH1001
Level: 0
Credits: 15
Department: Systems Management and Strategy
Course Coordinator(s): Tom Lawson

## Specification

### Aims

• To increase the student’s ability to gather and manipulate business and statistical numeric data
• Communicate the results of numeric manipulations effectively
• Use common statistical equations necessary to aid interpretation of data
• To increase a student’s understanding of basic statistical concepts such as average, mean, mode, standard deviation, percentage, probability, indices, etc.
• To improve a student’s awareness of statistical software and ability to use common statistical software such as Ms Excel

### Learning outcomes

On successful completion of this course a student will be able to:

1 Discuss the data requirements for a particular decision-making situation;
2 Demonstrate a familiarity with common published data sources;
3 Develop an understanding about statistics;
4 Understand simple relationships expressed as tables (Spreadsheets), graphs, charts and equations;
5 Use a calculator and software for manipulating data;
6 Illustrate linear relationships between variables;
7 Calculate and explain the significance of:
• simple percentages
• profit and cost margins
• index numbers
• division of a total
• VAT
• Average
• Mode
8 Communicate the results of any of the above in good business English

### Indicative content

• Discussion of why businesses need numeric data (Learning Outcome 1)
• Important statistical concepts and representations in business with examples from business publications or reports (Learning Outcome 4 & 7)
• Reporting data and interpreting business data (Learning Outcome 2 & 3)
• An introduction to statistics (Learning Outcome 3)
• An introduction to methods of finding information (Learning Outcome 3)
• Changing information into numerical data (Learning Outcome 4)
• Data processing, linear relationships and simple statistical concepts (Learning Outcome 6)
• Statistical software and tools – simple manipulations using a calculator, Ms Excel, etc (Learning Outcome 5)
• Review/ or report on some statistics from a business case (Learning Outcome 8)

### Teaching and learning activity

Learning activities will include lectures, tutorials, and assessment tasks which are compiled into a portfolio.

This course uses a mixture of lectures, practical workshops/tutorials, tutor-led and student-led computer laboratory sessions and group work on practical tasks/case studies. Material on basic concepts, general approaches to problem solving; formulation and application of models and techniques used in the manipulation of models will normally be introduced in lectures. These lectures will make use of computer display equipment to illustrate general ideas, and display self-managed learning activities. Practical tutorials will offer the student the opportunity to tackle Quantitative problems with the support of a tutor. Students will need suitable calculators during all the lectures and tutorials

### Assessment

Methods of SUMMATIVE Assessment: Time Constrained Assignment
Outcome(s) assessed by summative assessment Learning Outcome 1-8
Weighting % 50%
Pass Mark 40
Word Length Mainly Problem solving.
Outline Details: Open book 1.5 hours paper testing understanding of key concepts.

Methods of SUMMATIVE Assessment: Coursework
Outcome(s) assessed by summative assessment Learning Outcome 1-8
Weighting % 50%
Pass Mark 40
Word Length 2,000