MEX 1506 Mathematics and Statistics


Course Unit Code MEX 1506
Course Unit Title Mathematics and Statistics
Number of Credits 5
Year I
Mode of Instructions Sinhala and English

This course unit consist two main parts, mathematics and Statistics. Therefore first part of this course aims to provide student with a good understanding of much needed knowledge of mathematics which helps to the students to get understand and make correct decisions about the practical situations in related to the management. The second part is devoted to provide the statistical knowledge to the students. It is expected to enhance the analytical skills of students providing knowledge of statistical methods for solving various problems in the management field.

To provide knowledge to:
1. understand and use equations, formulae, and mathematical expressions and relationships in a variety of contexts
2. apply the knowledge in mathematics and statistics in solving problems related to the public management
3. identify and use correct statistical technique to analyze data
4. Improve critical thinking, modeling, and problem solving skills in a variety of contexts

Upon successful completion of this course unit, the students should be able to:
1. understand and use equations, formulae, and mathematical expressions and relationships in a variety of contexts
2. apply the knowledge in mathematics and statistics in solving problems related to the public management
3. apply correct statistical technique to analyze data
4. demonstrate critical thinking, modeling, and problem solving skills in a variety of contexts

Content
Main Topics Sub Topics No. of Hours
1.      Algebra

 

  1.1         Algebraic Expressions

1.2         Arithmetic Operations in Algebraic Expressions

1.3         Factorization

1.4         Fractions

1.5         Equations (Linear Equations,  Quadratic Equations, Systems of Equations)

1.6         Applications of Equations

 

08 hrs
2.      Functions

 

  2.1         Arithmetic of functions

2.2         Graphs in rectangular coordinates

2.3         Points of intersection of graphs

2.4         applications of functions

 

06 hrs
3.      Differentiation   3.1         Basic rules for differentiation

3.2         Successive Differentiation

3.3         Relative Maximum and Relative Minimum Points of a Function

3.4         Applications of Differentiation

 

12 hrs
4.      Integration   4.1         Indefinite Integration

4.2         Properties of Integration

4.3         Rules of Integration

4.4         The Definite Integration

4.5         Applications of Integrations

06 hrs
5.      Mathematics of Finance   5.1         Interest

5.2         Investment Appraisal

5.3         Annuities

5.4         Amortization

 

06 hrs
6.      Introduction to Statistics   6.1         Definition of statistics

6.2         Applications in statistics

6.3         Limitations of statistics

 

02 hrs
7.      Data and data Collection   7.1         Types of data

7.2         Methods of data collection

 

03 hrs
8.      Presentation of Data   8.1         Presentation of categorical data

8.2         Presentation of Quantitative data

 

04 hrs
9.      Summary Measures   9.1         Measures of central tendency

9.2         Measures of dispersion

9.3         Skewness

 

08 hrs
10.  Probability Theory 10.1         Approaches of probability

10.2         Joint probability

10.3         Marginal probability

10.4         Conditional probability

 

06 hrs
11.  Random Variables and Probability Distributions 11.1         Discrete probability distributions

11.2         Continuous probability distributions

 

03 hrs
12.  Theoretical Distributions 12.1         Binomial distribution

12.2         Poisson distribution

12.3         Normal distribution

 

04 hrs
13.  Regression and Correlation Analysis 13.1         Scatter diagrams

13.2         Coefficient of correlation

13.3         Simple linear regression

13.4         Coefficient of determination

 

04 hrs
14.  Time Series Analysis 14.1         Component of a time series

14.2         Trend estimation

14.3         Estimation of seasonal component

 

03 hrs

 

Mode of Study Lecturing, Seminar, Self Study
Evaluation Final Examination  – 100%

1. Mizrahi & Sullivan, Mathematics and Applied Approach (Seventh Edition)
2. Frank S. Budhick (Fourth Edition), Applied Mathematics for Business, Economics, and the Social Sciences
3. Richard D. Anderson & Cecil L. Smith, Calculus for Business
4. M.D. Mac Pherson, Mathematics Applied to Business Problems
5. Amir D. Aczel, JayavelSounderpandian, Complete Business Statistics, (Fifth Edition)
6. ව්‍යාපාර ගණිතය I (කලනය : ව්‍යාපාරික සහ ආර්ථික විද්‍යා යෙදුම්) – ආචාර්ය එස්. ටී. ඩබ්ලිව්. එස්. යාපා
7. සංඛ්‍යාන විද්‍යාවේ මූලධර්ම – මහාචාර්ය කේ. ආර්. ඇම්. ටී. කරුණාරත්න විශාලිත තෙවන සංස්කරණය – 2001
8. සම්භාවිතාවය – මහාචාර්ය කේ. ආර්. ඇම්. ටී. කරුණාරත්න