Quantitative Techniques Module II KNEC Notes – KNEC Syllabus and Course Outline

Quantitative Techniques is a unit offered in Diploma to equip learners with the right attitudes, knowledge and skills needed in business decision making.

This unit is offered in the following Diploma courses

• Diploma in Human Resource Management
• Diploma in Sales and Marketing
• Diploma in Supply Chain Management
• Diploma in Business Management

General Objectives

By the end of this module unit, the learner should be able to:

• Use quantitative techniques in business management
• Apply quantitative techniques in decision making
• Apply network analysis in project management
• Cope with the emerging trends and issues in quantitative techniques

Topics/Course Outline

Topic 1: Introduction to Quantitative Techniques

1.1. Meaning of quantitative techniques

1.2. Development of quantitative techniques

1.3. Role of quantitative techniques

1.4. Types of quantitative techniques

1.5. Areas where quantitative techniques are applicable

Topic 2: Correlation and Regression

2.1. Definition of terms: correlation and regression

2.2. Differences and similarities between correlation and regression

2.3. Methods of studying correlation

2.4. Interpretation of correlation coefficient

2.5. Linear regression equation

2.6. Forecasting using regression equation

Topic 3: Linear Programming

3.1. Definition of linear programming

3.2. Assumption of linear programming

3.3. Requirements of linear programming

3.4. Formulation of linear equation

3.5. Formulation of linear programming problems

3.6. Solving linear programming problems

Topic 4: Matrices

4.1. Definition of matrices

4.2. Types of matrices

4.3. Determination of order of a matrix

4.4. Matrix operations

4.5. Determination of determinant of a matrix

4.6. Inverse of a matrix

4.7. Solving simultaneous equations using matrices

Topic 5: Index Numbers

5.1. Definition of index numbers

5.2. Uses of index numbers

5.3. Types of index numbers

5.4. Factors to be considered in construction of index numbers

5.5. Problems encountered when constructing index numbers

5.6. Computation of index numbers

5.7. Limitation of index numbers

Topic 6: Time Series

6.1. Definition of time series

6.2. Objectives of time series analysis

6.3. Component of a time series

6.4. Computation of time series components

6.5. Decomposition of a time series

Topic 7: Network Analysis

7.1. Meaning of network analysis

7.2. Terms used in network analysis

7.3. Rules used when drawing networks

7.4. Construction of project network

7.5. Critical path and project duration

7.6. Application of network analysis

Topic 8: Introduction to Calculus

8.1. Definition of calculus

8.2. Differentiation of simple functions

8.3. Integration of simple functions

8.4. Application of Calculus

Topic 9: Inventory Control Models

9.1. Definition of basic terms used in inventory control

9.2. Inventory control limits

9.3. Minimization of cost of inventories

9.4. Inventory control models

Topic 10: Financial Mathematics

10.1. Definition of terms used in financial mathematics

10.2. Present and future values

10.3. Annuities and perpetuities

Topic 11: Probability and Statistics

11.1. Distributions

11.2. Definition of basic terms used in probability

11.3. Basic concepts of probability

11.4. Laws of probability

11.5. Probability distributions

11.6. Application of basic probability distribution functions

Topic 12: Tests of Hypothesis

12.1. Definition of Hypothesis

12.2. Types of hypothesis

12.3. Type I and Type II errors

12.4. Critical and acceptance regions

12.5. Z-test and T-test

Topic 13: Emerging Trends and Issues in Quantitative Techniques

13.1. Emerging trends and issues in quantitative techniques

13.2. Challenges posed by emerging trends and issues in quantitative techniques

13.3. Coping with challenges posed by emerging trends and issues in quantitative techniques