Course

Course Summary
Credit Type:
Course
ACE ID:
CMPS-0024
Organization's ID:
GAC010
Organization:
ACT Education Solutions, Limited
Location:
Classroom-based
Length:
Self-paced, 12 weeks (60 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 finite mathematics
Description

Objective:

The course objective is for the student to apply a basic knowledge of the principles of probability and statistics to solving and analyzing common financial problems.

Learning Outcomes:

  • solve problems using arithmetic and geometric sequences and series
  • apply algebraic methods to solve financial problems and analyze information
  • solve problems using probability and counting techniques
  • analyze collected data using statistical methods
  • use the normal distribution to analyze data

General Topics:

  • Sequence and series (terminology)
  • Arithmetic progressions
  • Geometric progressions
  • Sum to infinity
  • Sigma notation
  • Earning money and purchasing goods
  • Basic percentage calculations
  • Mark-ups, discounts, profits and losses
  • Spending money and purchasing goods
  • Earning an income
  • Taxation
  • Investing and loans
  • Dividends and shares
  • Simple interest
  • Compound interest
  • Simple annuities
  • Financial applications involving sequences and series
  • Probability
  • Terminology in probability
  • Combining events
  • Mutually exclusive and independent events
  • The concept of probability
  • Elementary properties of probability
  • Calculating probabilities using addition rules
  • Conditional probability
  • Calculating probabilities using multiplication rules
  • Probability trees
  • Probability tables
  • Some special counting techniques
  • Statistics
  • Terminology in statistics
  • Statistical variables and statistical data
  • Displaying data
  • Presenting data using graphs
  • Relative frequency distributions and their graphs
  • Cumulative frequency distributions
  • Frequency curves
  • Stem-and-leaf diagrams
  • Some further types of graphs
  • Numerical measures of central location
  • Summation notation
  • Measures of central location
  • Mean, median and mode
  • Comparing the mean, median and mode graphically
  • Measures of position or relative standing
  • Five-number summary
  • Numerical measures of variability
  • Distance measures
  • Measures of deviation
  • Some applications of variance and standard deviation
  • A practical interpretation of the standard deviation
  • Box-and-whisker diagrams
  • The normal distribution
  • Using the standard normal tables for any normal distribution
  • Applications of the normal distribution
  • The empirical rule re-visited
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Classroom Exercise
  • Computer Based Training
  • Discussion
  • Lectures
  • Practical Exercises
  • Project-based Instruction

Methods of Assessment:

  • Examinations
  • Other
  • Performance Rubrics (Checklists)
  • Quizzes
  • Project

Minimum Passing Score:

70%
Supplemental Materials