Module Details
| Module Code: |
MATH6025 |
| Title: |
Business Maths for Hospitality
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Long Title:
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Business Maths for Hospitality
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| NFQ Level: |
Fundamental |
| Valid From: |
Semester 1 - 2017/18 ( September 2017 ) |
| Field of Study: |
4610 - Mathematics
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| Module Description: |
This module is a first course in Business Mathematics for the hospitality sector. It provides an introduction to Financial Mathematics and to Statistics. Through a series of computer laboratory sessions, the learner will also have the opportunity to use software packages such as Excel to analyse data and to construct statistical charts.
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| Learning Outcomes |
| On successful completion of this module the learner will be able to: |
| # |
Learning Outcome Description |
| LO1 |
Perform business calculations relevant to the hospitality sector. |
| LO2 |
Summarise raw data for presentation in tabular and graphical forms by hand and using Excel. |
| LO3 |
Calculate and interpret summary statistics relevant to the hospitality sector. |
| LO4 |
Calculate and interpret index numbers. |
| LO5 |
Perform and interpret financial mathematical calculations. |
| Dependencies |
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
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Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
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| No incompatible modules listed |
Co-requisite Modules
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| No Co-requisite modules listed |
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
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| No requirements listed |
| Indicative Content |
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Business Calculations
Calculation and interpretation of ratios and percentages. Application to mark-up, food and beverage margin, occupancy rates, VAT calculation.
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Presentation of Data
Tabulation, tally diagram. Charts and graphs, including histograms, ogives, bar charts, pie charts.
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Descriptive statistics
Measures of central tendency - mean, median and mode. Measures of spread - range, variance, standard deviation, coefficient of variation. Quartiles, interquartile range, deciles and percentiles. Coefficient of skew. Advantages and disadvantages and uses of each measure.
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Index Numbers
Calculation of simple indices and inflation/deflation using index number. The Consumer Price Index and its sub-indices (Recreation and Culture, Restaurants and Hotels, Food and Non Alcoholic Beverages and Alcoholic Beverages and Tobacco)
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Financial Mathematics
Calculation and interpretation of simple and compound interest. AER. Depreciation - straight line method, reducing balance method. Annuities.
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Module Content & Assessment
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| Assessment Breakdown | % |
|---|
| Coursework | 100.00% |
Assessments
| No End of Module Formal Examination |
| Reassessment Requirement |
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
|
The University reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Lecture |
Every Week |
2.00 |
2 |
| Lab |
Contact |
Computer Lab |
Every Week |
1.00 |
1 |
| Independent & Directed Learning (Non-contact) |
Non Contact |
Class notes, exercise sheets |
Every Week |
4.00 |
4 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
3.00 |
| Workload: Part Time |
| Workload Type |
Contact Type |
Workload Description |
Frequency |
Average Weekly Learner Workload |
Hours |
| Lecture |
Contact |
Theory lecture |
Every Week |
2.00 |
2 |
| Lab |
Contact |
Computer practical |
Every Week |
1.00 |
1 |
| Independent & Directed Learning (Non-contact) |
Non Contact |
Independent learning |
Every Week |
4.00 |
4 |
| Total Hours |
7.00 |
| Total Weekly Learner Workload |
7.00 |
| Total Weekly Contact Hours |
3.00 |
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Module Resources
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| Recommended Book Resources |
|---|
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J. Curwin and R. Slater. (2007), Quantitative Methods for Business Decisions, 6th. Cengage Learning, London, [ISBN: 978-1844805747].
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S.Taylor. (2007), Business Statistics: for Non-Mathematicians, 2nd. Palgrave Macmillan, [ISBN: 978-140397499].
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L.Blocker, J.Hill, The Culinary Institute of America. (2016), Culinary Math, 4th. Wiley, [ISBN: 978-111897272].
| | Supplementary Book Resources |
|---|
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W. M. Harper. (1998), Statistics, 6th. Financial Times/Prentice Hall, [ISBN: 978-0273634263].
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Andre Francis. (2004), Business Mathematics and Statistics, 6th. Thomson Learning, [ISBN: 978-1844801282].
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J.Buglear. (2000), Stats To Go: A Handbook for Hospitality, Leisure and Tourism Studies, Routledge, [ISBN: 978-075064556].
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T.Jones. (2007), Culinary Calculations: Simplified Math for Culinary Professionals, 2nd. Wiley, [ISBN: 978-047174816].
| | This module does not have any article/paper resources |
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| Other Resources |
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Website, Central Statistics Office Ireland. (2016), CSO, Cork,
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Website, MathCentre. MathCentre,
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Website, CIT Department of Mathematics. CIT MathsOnline,
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