Overview

This module introduces the basics of statistics, probability distributions, functions, algebra, and their real-world applications. You will learn about mean, mode, median, and standard deviation, and how to use these measures to summarize data. You will also learn about probability distributions, such as the Normal Distribution, and how to use them to calculate probabilities. In addition, you will learn about different types of functions, how to graph them, and how to solve equations involving functions. Finally, you will learn how to apply these concepts to real-world problems, such as understanding supply and demand curves.

The main topics covered are:

(a) Statistics: mean, mode, median, standard deviation

(b) Probability distributions, including Normal Distribution

(c) Functions, coordinates, graphs

(d) Algebra: indices, algebraic fractions, transposing formulae, linear and quadratic equations

(f) Real life applications: Interest – simple and compound interest; Bills – gas bills, percentages, VAT

Demonstrate analytical skills required as a basis for further studies in Business and Social Science: (a) Consolidation of basic numeracy. (b) Problem-solving. (c) Communication: ability to communicate data relevant to studies in business and the social sciences in a comprehensible mathematical form. (d) Fundamentals of statistics. (e) Apply to real-life situations: interest and bills.

Assessment Strategy

Threshold (40-49% / D- to D+): Student has made sufficient progress in the study of this module to achieve the lowest level of pass allowing for progression onto an undergraduate degree.

Satisfactory (50 – 59% / C- to C+): Student demonstrates reasonably comprehensive coverage of learning outcomes, indicating generally accurate understanding, based on lecture material and some core readings. Some gaps in knowledge and/or understanding evident.

Good (60-69% / B- to B+): Student has displayed a sound basic knowledge and understanding of much of the material studied in this module and achieved a high enough grade to indicate a clear ability to cope with the demands of an undergraduate level degree.

Excellent (70% + / A- to A*): Student has engaged consistently well with all aspects of the module and strong achievement in assessments indicates the ability to perform effectively at undergraduate degree level.