GSB 743 Quantitative Techniques for Management
This unit is designed to introduce basic concepts of mathematics and statistics and their applications to management. Background in mathematics and statistics is not assumed, but obviously some mathematical aptitude is beneficial. Topics include: business mathematics; differentiation; optimisation; integration; matrix algebra; descriptive statistics; probability distributions; hypotheses testing and simple linear regression analyses.
The unit consists of five weeks on mathematics, which includes two assignments. The statistics component of the unit involves eight weeks of study and involves three assignments. There will be an end-of-trimester final examination that will be worth 50% of final mark. Students are not expected to be able to prove theorems and memorise formulae. In fact, a list of potentially useful formulae and tables will be provided as part of the examination paper. The ideas and use of the methods involved are most important.
It is recommended that study for this unit involve the application of consistent work, involving reading of the topic notes, followed by the suggested textbook readings, suggested activities and review exercises. After studying components of a topic sufficiently, the corresponding exercises in the next assignment should be attempted. It is desirable for students to attempt as many other exercises from the textbook as is possible given the time available to complete the requirements of the unit.