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Learning Outcomes

Teaching and Learning Resources

Counting, Whole Numbers, Fractions, Decimals, Percentages,
Equations, Trade and Cash Discounts. Markup and Markdown,
Payroll, Taxes, Inventory
Measures, Shape and Space, Handling Data.
Simple Interest and Simple Discount,
Banking, Consumer Credit, Compound Interest,
Future Value, and Present Value, Mortgages, Financial Statements
Algebraic Methods
Charts and Diagrams
Statistical Methods. Business Statistics. Stocks and Bonds. Insurance

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Introduction to Quantitative Methods - Numeracy

Rationale

Quantitative Research is the systematic scientific investigation of properties and phenomena and their relationships. Quantitative research is widely used in both the natural sciences and social sciences, from physics and biology to sociology and journalism. It is also used as a way to research different aspects of education.

The objective of quantitative research is to develop and employ mathematical models, theories and hypotheses pertaining to natural phenomena. The process of measurement is central to quantitative research because it provides the fundamental connection between empirical observation and mathematical expression of quantitative relationships.

The term quantitative research is most often used in the social sciences in contrast to qualitative research.

See also

Quantitative vs. Qualitative Research Methods

Learning Outcomes

After completing the programme, students should be able to:

1. Demonstrate the rule of numeracy by:

applying the four rules to whole numbers, fractions and decimals
expressing numbers in standard form
multiplying and dividing negative numbers

2. Apply calculations to:

compare numbers using ratios, proportions and percentages;
obtain values for simple financial transactions involving purchases, wages, taxation, discounts;
calculate values using simple and compound interest;
convert foreign currency;
make calculations involving roots and powers;
evaluate terms involving a sequence of operations and use of brackets;
Interpret, transpose and evaluate formulae;
approximate data using rounding, significant figures.

3. Use algebraic methods to:

solve linear and simultaneous equations;
solve quadratic equations using factorisation and formulae;
determine the equations of a straight line through two points;
determine the gradient and intercept of a straight line.

4. Construct and use:

a) charts and diagrams derived from tabular data;

b) graphs applying general rules and principles of graphical construction including axes, choice of scale and zero. Identify points of importance e.g. maximum, minimum and break even.

5. Apply statistical methods to:

a) distinguish and use sigma continuous variables;

b) represent and interpret variables using histograms and cumulative frequency curves;

c) recognise and use sigma notation for summation;

d) calculate and interpret summary statistics: these would include measures of location (mean, mode, median),

e) calculate measures of dispersion (range, interquartile range, standard and deviation, coefficient of variations) and measures of skewness;

f) construct statistical graphs for time series, identifying trends, seasonal and random components;

g) determine a trend using moving averages and make a simple forecast.

6. Apply the laws of probability to: