Unit Title: Introduction to Quantitative Methods

Unit Reference Number: D/600/0603

Guided Learning Hours: 100
Level: Level 4
Number of Credits: 12

Learning Outcome 1
The learner will: Understand the rules of numeracy.

Assessment Criteria
The learner can:

Indicative Content

1.1 Apply the four rules of

numeracy.

1.1.1 Apply the four rules of numeracy to whole numbers,

fractions and decimals.

1.2 Express numbers in

standard form.

1.2.1 Express numbers in standard form.

1.3 Multiply and divide

negative numbers.

1.3.1 Multiply and divide negative numbers.

Learning Outcome 2
The learner will: Be able to make and apply calculations relevant to business.
Assessment Criteria
The learner can:

Indicative Content

2.1 Compare numbers and

approximate data.

2.1.1 Compare numbers using ratios, proportions and

percentages in a business context.
2.1.2 Approximate data using rounding, significant figures.

2.2 Determine values for

simple financial
transactions.

2.2.1 Obtain values for simple financial transactions involving

purchases, wages, taxation, discounts.
2.2.2 Determine values for simple and compound interest, and
for depreciation of an asset using the straight line method and
the reducing balance method.
2.2.3 Convert foreign currency.

2.3 Make and apply

calculations.

2.3.1 Make calculations using a scientific calculator including

roots and powers; logarithms and exponential values.
2.3.2 Evaluate terms involving a sequence of operations and
use of brackets.

2.3.3 Interpret, transpose and evaluate formulae.

Learning Outcome 3
The learner will: Be able to use algebraic methods to solve business problems.

Assessment Criteria
The learner can:

Indicative Content

3.1 Solve equations using

algebraic methods.

3.1.1 Solve linear and simultaneous equations.

3.1.2 Solve quadratic equations using factorisation and
formulae.

3.2 Solve equations using

roots or logarithms.

3.2.1 Solve and simplify equations using roots or logarithms.

3.3 Determine the

equation of a straight line.

3.3.1 Determine the equation of a straight line through two

points and also when given one point and its gradient.
3.3.2 Determine the gradient and intercepts on the x or y axes
for a straight line.

Learning Outcome 4
The learner will: Be able to construct and use graphs, charts and diagrams in a business
context.

Assessment Criteria
The learner can:

Indicative Content

4.1 Draw charts and

diagrams derived from
tabular data.

4.1.1 Draw charts and diagrams derived from tabular data: e.g.
bar charts, pie charts, scatter diagrams.

4.2 Plot graphs applying

the general rules and
principles of graphical
construction.

4.2.1 Plot graphs applying the general rules and principles of

graphical construction, including choice, range and scale of
axes.

4.3 Plot and interpret

mathematical graphs.

4.3.1 Plot and interpret mathematical graphs for simple linear,

quadratic, exponential and logarithmic equations.
4.3.2 Identify points of importance on graphs e.g. points of
maximum and minimum; points of intercept with x and y axes.

Learning Outcome 5
The learner will: Be able to apply statistical methods to provide business and management
information.

Assessment Criteria
The learner can:

Indicative Content

5.1 Distinguish between

different types of data.

5.1.1 Distinguish between quantitative and qualitative data.

5.1.2 Distinguish between continuous and discrete data.

5.2 Represent and

interpret data.

5.2.1 Represent and interpret data using histograms, stem and

leaf diagrams and cumulative frequency curves.

5.3 Determine and

interpret summary
statistics.

5.3.1 Determine and interpret summary statistics, including

measures of location (e.g. mean, mode and median), measures
of dispersion (e.g. range, interquartile range and standard
deviation) and measures of skewness.
5.3.2 Recognise and use the sigma notation for summation.

Learning Outcome 6
The learner will: Understand and be able to apply the laws of probability to find solutions to
business problems.

Assessment Criteria
The learner can:

Indicative Content

6.1 Explain and apply the

laws of probability.

6.1.1 Recognise outcomes which are equally likely, not equally

likely or subjective.
6.1.2 Use appropriate formulae to determine probabilities for
complementary, mutually exclusive, independent and
conditional events.
6.1.3 Determine probabilities, using a sample space, two way
table or tree diagram.

6.2 Calculate the expected

value of an outcome.

6.2.1 Use probabilities to calculate the expected value of an

outcome.

6.3 Determine probabilities

using the normal
distribution.

6.3.1 Determine probabilities using the normal distribution, by

making use of standard normal distribution tables.
6.3.2 Represent normal probabilities as areas under the

standard normal distribution curve.

Assessment:
Assessment method: written examination (unless otherwise stated).
Written examinations are of three hours duration.
All learning outcomes will be assessed.

Recommended Reading:
Introduction to Quantitative Methods ABE Study Manual.
Please refer to the Tuition Resources section of the Members Area of the ABE
website (www.abeuk.com) for further recommended reading.