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Probability

MATH 122 is a core course that builds on MATH 111, focusing on probability, finance mathematics, and calculus applications in business. Students will learn to use mathematical tools for decision-making and problem-solving in managerial contexts. The course includes lectures, seminars, and assessments through continuous evaluation and examinations.

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6 views2 pages

Probability

MATH 122 is a core course that builds on MATH 111, focusing on probability, finance mathematics, and calculus applications in business. Students will learn to use mathematical tools for decision-making and problem-solving in managerial contexts. The course includes lectures, seminars, and assessments through continuous evaluation and examinations.

Uploaded by

ezekiel nyamu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MATH 122 is a continuation of MATH 111; the course will cover topics

such as probability with major emphasis to business applications,


Mathematics of Finance, Permutation and Combination, Differentiation
and its application, Integration and its application

3. Expected Learning Outcome


Upon completion of this course the student will be able to:
Use Mathematical analytical tools in effecting business decisions.
Solve potential managerial problems that needs mathematical
techniques such as investment decision, planning, and resource
utilizations
4. Course status: Core
5. Credit rating: 9
6. Total hours spent: 45
7. Course Content:
Statistical Estimation Theory: The need of statistical estimates-
estimation of
Population parameters; Sampling methods; Statistical estimators and
estimates-estimator of population mean, estimation of population
variance; Empirical sampling distributions-the central Limit theorem;
Calculation and interpretation of confidence intervals of populations
Index Number: Uses of Index number; Problems in the construction of
Index number; Methods of Constructing Index numbers; Quantity or
Value Index numbers; Tests of adequacy on Index number formulae-
Unit test, Time reversal test, Factor reversal test, Circular test.
Mathematics of Finance: Simple interest and Discount; Compound
Interest; Annuities; Present values of an Annuity-Amortization; Applying
Financial Formulas.
Differential Calculus: Concept of Limit; Rates of change; Definition of
the Derivative; Techniques for finding derivatives; Derivatives of
products and Quotients; The Chain rule; Applications of the
Derivatives.
Integral Calculus: Anti-derivatives; Indefinite Integrals; Integration by
Substitution- Area and Definite Integral, Applications of Integrals.
Probability: Concepts and Terminologies- random experiment,
outcomes, sample space, event; Rules of Probability; Use of Venn
diagram to solve probability; Contingency Table.
Permutations and Combination: Multiplication principle-n-factorial;
Differences between permutation and combination; Applications in
business.
8. Mode of Delivery: Lectures, seminars/tutorials/group work, Case
Studies and independent study.
9. Assessment: By continuous Assessment (40%) and by Examination
(60%).
10. Reading List

Abdu, A.(2004). Study guide f

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