Applied mathematics and statistics in businessLaajuus (5 cr)

Objective

You learn to apply mathematical methods and models to solve typical business problems concerning in different business sectors.
You know to analyze and interpret statistical data to make data-driven business decisions.
You learn to use probability theory to assess risk and uncertainty in business scenarios.
You learn to perform regression analysis to identify relationships between business variables.
You learn to utilize optimization techniques e.g. for resource allocation and profit maximization.
You learn to interpret and present quantitative findings using software tools.

Content

How business is modeled by the means of mathematical and statistical methods?
How probability models are applied to various different business problems, to decision-making in particular?
How optimization problems are solved for e.g profit maximization or cost minimization?
How mathematical models are tested and validated against real business cases?

Evaluation

Students can
a. use professional vocabulary and concepts in an expert way in situations where analytical skills and technics are required.
e. choose appropriate models, methods, software and techniques according to the purpose and justify these choices.

Qualifications

Basic knowledge of statistics is required.