Business Mathematics and StatisticsLaajuus (5 cr)

Objective

The student knows basic mathematical and statistical analysis methods of business and is able to apply financial mathematics to solving basic business problems based on working life. The student knows the main calculation methods related to finance and investment decisions. The student is familiar with the basic concepts of statistical analysis. The student is able to select suitable statistical methods and use them in describing the pre-collected statistical data.

Content

- Applications of percentages
- Indices and time value of money
- Interest and compound interest calculations with their applications
- Annuities, loans and their comparisons
- Basic concepts of statistical analysis and statistical measurement
- Distributions and descriptive measures
- Basic use of a spreadsheet program’s financial functions and basic features of a statistical software

Assessment criteria, satisfactory (1)

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.

Assessment criteria, good (3)

The student has achieved the course objectives well, even though the knowledge and skills need improvement on some areas. The student is able to define the course concepts and models and are able to justify the analysis. The student is able to apply his/her knowledge in leisure, study and work situations. The student understands the importance of expertise in the field of business and is able to analyze his/her own expertise.

Assessment criteria, excellent (5)

The student has achieved the objectives of the course with excellent marks. The student masters commendably the course subject area’s concepts and models. The student is able to make justified and fluent analysis and to present concrete development measures. The student is well prepared to apply his/her knowledge in leisure, study and work situations. The student is able to analyze the business sector expertise and the development of his/her own expertise.

Assessment criteria, approved/failed

The student has achieved the course objectives fairly. The student will be able to identify, define and use the course subject area’s concepts and models. The student understands the criteria and principles of the expertise development.