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Students will learn methods, procedures and applications of business mathematics, including the mathematics of merchandising, simple interest, and compound interest. Applications include discounts and markups, cost-volume-profit, short-term and long-term loans, credit card debt, savings and payment plan annuities, mortgages, bonds and investment decisions. Note: Students may earn credit for only one of ACCT 1130 or BUQU 1130, as they are identical courses.
Students will learn statistical concepts, methods and procedures used in business, including descriptive statistics--graphics and numerical presentations, probability theory, sampling, estimation, hypothesis testing and linear regression. The use of statistical software applications will form part of the course. Students will be expected to know, or to acquire on their own, basic Excel skills. Note: Students may earn credit for only one of ACCT 1230 or BUQU 1230, as they are identical courses.
Students will learn the mathematical skills required for success in higher-level courses. Students will begin by deriving equations for the relationship between quantities such as national income and expenditure. They will draw graphs to illustrate the relationships they have found, and they will also identify the equilibrium. Students will learn to recognise the slope of a curve in a graph as a representation of a rate of change. They will apply the rate of change to practical economic problems, such as finding the optimum production level for a firm. By the end of the course, they will be able to find profit maxima or cost minima given constraints such as limited labour or machinery.
Students will learn to identify those business situations that require formal decision-analysis, to select the appropriate computer model, to run the model using computer software, and to interpret and describe the results. Students will investigate several case-studies portraying both good and poor decision-making skills and will make a formal presentation of their findings in a group setting. Students will learn to determine the optimal strategy for an organization, and to present a persuasive case for the adoption of that strategy.
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