Departments › Business Management › Module III › Business Mathematics and Statistics

Business Mathematics and Statistics

Business Management · Level 6  ·  8 Chapters

Can I download Business Mathematics and Statistics notes as a PDF?

Yes. The notes download as a PDF too: every chapter has a Download PDF button above its notes. Sign in and click it. Each download comes from your plan's monthly allowance or from credits. To read before you sign in, the first topic of every chapter opens to anyone, and a Profplanet plan opens the remaining topics.

Chapters

1
Apply Statistical Equations
6 topics
No Notes Yet
2
Apply Statistical Matrices
5 topics
No Notes Yet
3
Work-Out Commercial Mathematics
10 topics
No Notes Yet
4
Carry Out Elementary Statistics
11 topics
No Notes Yet
5
Carry Out Descriptive Statistics
6 topics
No Notes Yet
6
Apply Set Theory
3 topics
No Notes Yet
7
Apply Basic Probability Theory
6 topics
No Notes Yet
8
Use index numbers
8 topics
No Notes Yet
What Business Mathematics and Statistics covers: 47 main topics in 8 chapters

1. Apply Statistical Equations

  1. 1.1 Linear equations; solving and graphs;
  2. 1.2 Quadratic equations; solving and graphs;
  3. 1.3 Differentiation and Integration
  4. 1.4 Simultaneous equations; solving
  5. 1.5 Break-even analysis
  6. 1.6 Total revenue, total cost and profit equations; application of errors

2. Apply Statistical Matrices

  1. 2.1 Introduction: order, types
  2. 2.2 Addition, subtraction and multiplication
  3. 2.3 Determinants of 2x2 matrices
  4. 2.4 Inverses of 2x2 matrices
  5. 2.5 Application of matrices to business problems

3. Work-Out Commercial Mathematics

  1. 3.1 Buying and selling; discounts, profit and loss, margins and mark-ups
  2. 3.2 Commissions and salaries; piece and hourly rates, gross and net pay, PAYE
  3. 3.3 Bills calculations; water and electricity
  4. 3.4 Wages and salaries
  5. 3.5 Simple and compound interest
  6. 3.6 Profit margin and mark-up
  7. 3.7 Gross pay and net pay
  8. 3.8 Depreciation and appreciation of assets
  9. 3.9 Hire purchase
  10. 3.10 Foreign currency exchange transactions

4. Carry Out Elementary Statistics

  1. 4.1 Introduction: definitions and branches of statistics
  2. 4.2 Methods of data collection:
  3. 4.3 Presentation of data:

5. Carry Out Descriptive Statistics

  1. 5.1 Measures of central tendency:
  2. 5.2 Mean: arithmetic mean, weighted arithmetic mean, geometric mean and harmonic mean
  3. 5.3 Mode
  4. 5.4 Median
  5. 5.5 Measures of dispersion: range, quartile, deciles, percentiles, mean deviation, standard deviation and coefficient of variation
  6. 5.6 Measures of skewness and kurtosis excluding computation of the coefficients

6. Apply Set Theory

  1. 6.2 Types of sets: universal, empty/null, subsets, finite and infinite
  2. 6.3 Operation of sets: unions, intersections, complements and set difference
  3. 6.4 Venn diagrams

7. Apply Basic Probability Theory

  1. 7.1 Introduction to probability: definitions, events, outcomes, sample space
  2. 7.2 Types of events: simple, compound, independent, mutually exclusive,
  3. 7.3 Mutually inclusive, dependent events
  4. 7.4 Rules of probability: additive and multiplicative rules
  5. 7.5 Baye’s Theorem
  6. 7.6 Elementary probability trees

8. Use index numbers

  1. 8.1 Construction of index numbers
  2. 8.2 Purpose of index numbers
  3. 8.3 Simple index numbers; fixed base method and chain base method
  4. 8.4 Consumer Price Index (CPI)
  5. 8.5 Weighted index numbers; Laspeyre’s, Paasche’s, Fisher’s ideal and
  6. 8.6 Marshall- Edgeworth’s methods (both price and quantity index numbers)
  7. 8.7 Limitations of index numbers
  8. 8.8 Emerging issues and trends

Revise this unit

Exam-style questions Written to CDACC standard, with answers Test yourself Multiple-choice, one at a time Practise questions Quick recall — check you know the facts
3 more for this unit
Oral exam preparation What the assessor asks, and how to answer out loud Worked calculations Step-by-step maths with the common mistakes Quick cards Myth busters, skill tips and scenarios

Beyond the syllabus

Decision simulator On site, what would you do? Workplace scenarios Real site situations — what would you do? Turn this into income Where this skill earns — what to charge, how to find clients

Other units in Module III