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MTH302 : Business Mathematics & Statistics

Course Overview

Course Synopsis

The purpose of the course is to provide the student with a mathematical basis for personal and business financial decisions through eight instructional modules. The course stresses business applications using arithmetic, algebra, and ratio-proportion and graphing. Applications include payroll, cost-volume-profit analysis and merchandising mathematics. The course also includes Statistical Representation of Data, Correlation, Time Series and Exponential Smoothing, Elementary Probability and Probability Distributions. This course stresses logical reasoning and problem solving skills.

Course Learning Outcomes

At the end of the course, you should be able to

  • Apply arithmetic and algebraic skills to everyday business problems.
  • Use ratio, proportion and percent in the solution of business problems.
  • Solve business problems involving commercial discount, markup and markdown.
  • Solve systems of linear equations graphically and algebraically and apply to cost volume-profit analysis.
  • Apply Statistical Representation of Data, Correlation, Time Series and Exponential Smoothing methods in business decision making.
  • Use elementary probability theory and knowledge about probability distributions in developing profitable business strategies.


Course Calendar

1 Course Overview
2 Application of basic mathematics- I
3 Application of basic mathematics- II

4 Application of basic mathematics- III
5 Application of basic mathematics- IV
6 Application of basic mathematics- V

7 Application of basic mathematics- VI
8 Compound Interest I
Quiz 1
9 Matrix, its dimension and types

10 Matrices I
11 Matrices II
12 Ratio and proportion

13 Mathematics of Merchandising I
14 Mathematics of Merchandising II
15 Mathematics of Merchandising III

16 Mathematics of Merchandising IV
Quiz 2
17 Financial Mathematics I
18 Financial Mathematics II

19 Break-Even Analysis I
20 Break-Even Analysis II
21 Linear cost volume profit and break even Analysis I

22 Linear cost volume profit and break even Analysis II
Midterm Examinations
23 STATISTICAL DATA REPRESENTATION
24 STATISTICAL REPRESENTATION I

25 STATISTICAL REPRESENTATION II
26 STATISTICAL REPRESENTATION III
27 STATISTICAL REPRESENTATION IV
Quiz 3

28 MEASURES OF DISPERSION-I
29 MEASURES OF DISPERSION-II
30 MEASURES OF DISPERSION-III

31 LINE FITTING
Quiz 4
32 TIME SERIES
33 TIME SERIES AND EXPONENTIAL SMOOTHING

34 FACTORIALS
35 ELEMENTARY PROBABILITY I
Quiz 5
36 ELEMENTARY PROBABILITY II

37 PATTERNS OF PROBABILITY I
38 PATTERNS OF PROBABILITY II
39 PATTERNS OF PROBABILITY III

40 PATTERNS OF PROBABILITY IV
41 Some Functions of Normal distribution
42 Statistical Inference

43 Hypothesis Testing-I
44 Hypothesis Testing-II
45 Linear Programming