MONASH UNIVERSITY FACULTY HANDBOOKS

Business & Economics Handbook 1996

Published by Monash University
Clayton, Victoria 3168, Australia

Authorised by Academic Registrar, April 1996


GAS1751

Quantitative methods 1

BB

Ms Harmindar Nath, Dr Richard Egudo and Ms Roslyn Steel

6 points + First semester + 4 hours per week + Gippsland, distance + Prerequisites The subject assumes a mathematical background at about Year 11 (fifth form) level.

Synopsis This subject introduces some of the fundamental mathematical and statistical methods used most commonly in business planning and decision-making. Included are basic mathematical concepts, functions and their graphics, exponential and logarithmic functions. Solutions of systems of linear equations and inequations. Arithmetic and geometric sequences; financial calculations relating to simple and compound interest, discount notes, annuities, amortisation, sinking funds and equations of value. Index numbers, especially the Australian CPI and its uses. Statistics - nature of statistical investigations, collection, presentation and interpretation of data; measures of centrality and dispersion; population distributions, the normal distribution; the sampling distribution of the sample mean; statistical inference - interval estimation for the population mean (large and small samples), choosing the sample size, sampling from a small population, basic concepts for hypothesis testing, one-tailed and two-tailed testing of hypotheses, testing an hypothesis about the population mean (large and small samples); introduction to simple linear regression.

Assessment Assignments: 50% + Examination: 50%

Prescribed texts


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