Business Mathematics and Statistics (3cr)

Evaluation scale

1-5

Objective

Learning competence
Students are competent in basic percentage calculation. They know how to calculate simple and compound interests. They apply various investment calculation methods to evaluate profitability of investments. Students are able to interpret indexes and to apply them to monetary value calculation. They are familiar with the more common statistical indicators and their use in the analysis of measurement results. Students are competent in the basic use of the more common mathematical calculation software.

Working community competence
Students are competent in graphical illustration of business mathematical and statistical research results and able to apply indicators to summarise data. Students are able to make economic decisions based on business mathematical and statistical observations. They are able to function in various groups and teams and to manage teams, which seek solutions for business mathematical and statistical problems.

Quality management competence
Students are able to apply both exact and approximate methods to determine the correctness of mathematical work. Students know how to estimate the inaccuracy of measurements and take it into consideration.

Content

Business mathematics:
? Basic percentage calculations
? Percentage changes
? Simple and compound interest
? Discount
? Methods for evaluating the profitability of investments
? Indexes

Statistics:
? Common statistical indicators
? Concepts and applications related to average, dispersion, correlation and regression
? Common statistical distributions
? Statistical research: planning, implementation, analysis of the results and reporting
? Measurement errors and their management

Mathematical software
? Microsoft Excel
? MathCad

Materials

Tekniikan Kaavasto, Tammertekniikka.
Availability: https://plari.amkit.fi/vwebv/search?searchArg=tekniikan+kaavasto&searchCode=TALL&limitTo=none&recCount=25&searchType=1&page.search.search.button=Search
Lecture material as indicated by the lecturer

Teaching methods

Lectures, calculations, computer work and assignments

Student workload

Total work load of the course: 80 h
- of which scheduled studies: 48 h
- of which autonomous studies: 32 h

Assessment criteria, satisfactory (1)

1 students understands the basics of business mathematics and statistics
3 student understands and is able to apply the methods of business mathematics and statistics well
5 student understands and is able to apply the methods of business mathematics and statistics excellently

Qualifications

Algebra, Geometry.