The topic provides an introduction to basic mathematical and statistical techniques useful in accounting, management, finance and economics. Subjects covered include a basic algebra review, simple functions and their graphical representation, mathematical finance, data presentation, descriptive statistics, sample design, elementary probability, the normal distribution, sampling distributions, confidence intervals, hypothesis testing, simple regression analysis and analysis of covariance.
This topic aims to define measurable data and information. Theory will be illustrated with worked examples, and mathematical and statistical techniques will be applied to real world problems with a business focus. Computing workshops are an important component of the topic. In the workshops the spreadsheet program Microsoft Excel will be used to solve problems in financial mathematics and carry out statistical analyses.
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