QCF Syllabus

Introduction to Quantitative Methods

Unit Title
Unit Reference Number
Guided Learning Hours
Level
Number of Credits

Introduction to Quantitative Methods

D/600/0603
100
4
12

Unit purpose and aim(s):

This unit aims to give learners a sound understanding of:
numeracy and business calculations
algebraic methods
graphs, charts and diagrams
the use of statistical methods to supply business and management information
the laws of probability

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: Understand the rules of numeracy.
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.