Quantitative Methods

QUANTITATIVE METHODS

REFLECTIVE JOURNAL 1

The first topic we learned in this subject is called “Mathematics of Finance” and through here, I have gained an adequate amount of knowledge on how to compute basic simple interest and the effects of compound interest when interest earned is re-invested. This helps me to solve problems involving simple future and present values. My lecturer, Mr. Welman then teaches us how to apply this theory to overcome investments and borrowings complications.

In the following chapter, also named “Mathematics of Finance” but this time we learned about how to calculate future value of an annuity. Through this, I am now able to calculate what will be the future value if I made a fixed periodic payment on an annuity. This method helps us to know what will be the future value for a sinking fund or loan. In the second part of the chapter, we are thought to calculate, this time the present value of an annuity given the amount of future value.

We then moved on to the topic of “Linear Programming”. Firstly, this chapter teaches us how to plot linear inequalities graph of two variables. Why plot graph? Because I have learned that by plotting graph, we can actually solve linear inequalities problems which involve two variables. From the graph, I am able to obtain the corner points in the graph which then enable us to solve the inequalities. For instance, we can apply this in a real-world situation like calculating the amount that needed to be produced by a firm manufacturing two goods that maximizes profit with a given constraints.

REFLECTIVE JOURNAL 2

Weeks of studies in this module had flown by and we are then assigned with a mini research project in which consists of two peoples. We were asked to collect a sample of data and relate it with our course of study in the module. From this research, a lot of useful knowledge had been gained.

Firstly, we learned how to use Microsoft Excel to generate various kinds of statistical formula on the data that we had collected. Through this, we can easily calculate basic descriptive statistics like the average, mode and median of a data. Also, we learnt how to investigate the linear equation of a data and its relationship by using linear regression projected by Microsoft Excel.

Furthermore, this mini research project helps us understand more of what we had studied in the module. For instance, before conducting this project, I had a hard time understanding hypothesis testing and its application but now I can fully understand and utilize it. Besides, when we apply theories into real-world examples, we learned how to interpret the theories learned such as the mode, mean, median and also linear regression. Hence, this enable us to comprehend the concepts learned.

Lastly, I had learnt how to manage my time better. This projects falls on a time whereby I have lots of submission of other assignment on that few weeks. Therefore, this project forces me to plan my time well and through this I have improved my time management.