Quantitative Methods in a Business Context

Course Description

This unit is designed to develop skills in using quantitative methods, including how to present and use business and management data to inform business decisions. By developing quantitative skills at this level, you will be able to apply business concepts in areas such accounting, finance, and human resource management. Quantitative data is often employed to assist with business decisions, for example, calculating sales volume to recover costs, determining the price of a new product, or measuring the performance of the business etc.

Course Objectives

This unit is designed to develop skills in using quantitative methods, including how to present and use business and management data to inform business decisions. By developing quantitative skills at this level, you will be able to apply business concepts in areas such accounting, finance, and human resource management. Quantitative data is often employed to assist with business decisions, for example, calculating sales volume to recover costs, determining the price of a new product, or measuring the performance of the business etc.

Key Topics

1. LO1: Be able to use numerical techniques in a business context.
2. LO2: Be able to construct and use graphs, charts and diagrams for informed decision making.
3. LO3: Understand how business and management data is used to inform business decision making.

Course Outline

Learning Outcomes

1. LO1 Be able to use numerical techniques in a business context.
2. 1.1 Apply numerical techniques in a business context.
3. 1.2 Perform calculations to inform business decision making.
4. LO2 Be able to construct and use graphs, charts and diagrams for informed decision making.
5. 2.1 Draw charts and diagrams derived from tabular accounting data.
6. 2.2 Plot graphs, applying the general rules and principles of graphical construction.
7. 2.3 Interpret mathematical graphs of accounting data.
8. LO3 Understand how business and management data is used to inform business decision making.
9. 3.1 Compare different types of business and management data.
10. 3.2 Represent and interpret business and management data.
11. 3.3 Identify appropriate methods for communicating business and management data to stakeholders.