CA200-Quantitative Methods for Business Decisions

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CA200-Quantitative Methods for Business Decisions

• Lecturer Professor Jane Horgan
• Rm LG06
• Email jane.horgan_at_computing.dcu.ie
• Assistant Dr. Sebnem Er
• Rm L249
• Email sebnem.er_at_computing.dcu.ie

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Organisation of Module

• Two lectures per week
• Labs /tutorials once a week
• End of semester exam 75
• R project 25

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• The module deals with data
• (a) Collection
• (b) Presentation
• (c) Description
• (d) Interpretation

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Applications

• Business, Accounting and Industry Estimating
  the volume of retail sales to provide background
  for management decisions
•  Computing Analysing web site traffic data
•  Finance Pricing of options and derivatives
  modelling and management of financial risk.
•  Economics Measuring indicators such as trade,
  size of labour force and standard of living
  long and short range forecasting of economic
  indicators.
•  and so on

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A statistician is concerned with questions such
as

• What data need to be collected?
• How can resources be used efficiently to
  collect the data?
•  How can the data be presented so as to convey
  their salient features?
•  What conclusions can be drawn from these data
  and what is the degree of certainty of these
  conclusions?
•  What actions should be taken on the basis of the
  conclusions drawn from these data?