QRB501 Quantitative Reasoning for Business
Course Description
This course applies quantitative reasoning skills to business problems. Students learn to analyze data using a variety of analytical tools and techniques. Other topics include formulas, visual representation of quantities, time value of money, and measures of uncertainty.
Topics and Objectives
Working with Numbers and Formulas
- Write mathematical expressions and equations for word problems.
- Apply the rules for order of operations (including exponents) in solving problems.
- Identify dependent and independent variables and their relationships
Business Applications I
- Differentiate the levels of measurement.
- Solve simultaneous equations algebraically.
- Use time series data to forecast.
Visual Representation of Quantities
- Construct histograms and bivariate plots using Excel.
- Determine value of a slope by using the slope-intercept formula.
- Conduct a linear regression analysis.
Time Value of Money
- Compute exponential and reciprocal functions.
Decision Making with Uncertainty
- Construct a frequency distribution.
- Compare and contrast measures of central tendency (mean, median, and mode) and measures of dispersion (range and standard deviation).
- Construct a normal distribution.
Business Applications II
- Apply basic probability concepts.
- Explain the importance of the central limit theorem in sampling.
- Convert data to indexes.
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