Business mathematics and statistics
Mr Bruce Stephens
6 points * one 2-hour lecture, one 1-hour tutorial and one 1-hour microlab per week * Caulfield/Peninsula * First, second semester
Objectives On completion of this subject students should have become competent in using basic mathematical concepts fundamental to business practice; the use of spreadsheets in business problems; the use of techniques of financial mathematics; the use and interpretation of descriptive statistical techniques in business; the use of the time series techniques of indexing, deflating and forecasting; the application of basic concepts of probability distributions to business problems; effectively communicating the results of their analyses of problems.
Synopsis Spreadsheets; basic mathematics; financial mathematics, interest, depreciation, net present value, internal rate of return, annuities, loans; descriptive statistics, frequency distributions, location, dispersion; time series, indexes, forecasting; probability and probability distributions, binomial, normal.
Assessment Assignments: 20% Examination (3 hours): 80%
Prescribed texts
Anderson D R and others Statistics for business and economics Harper, 1992
Farmer R and others Review of basic mathematics Monash U, 1994
McLean A L and Stephens B W Financial mathematics Monash U, 1994
McCann C Introduction to spreadsheets Monash U, 1994