BUSINESS MATHEMATICS & STATISTICS
LECTURE 1 COURSE OVERVIEW
Instructor Dr. Zahir Fikri Ph.D in Electric Power Systems Engineering Royal Institute of Technology, Stockholm, Sweden
Objective to provide the student with a mathematical basis for personal decisions and business financial decisions
Stresses business applications using arithmetic, algebra, ratio-proportion and graphing
Applications include payroll, cost-volume-profit analysis and merchandising mathematics
Also includes Statistical Representation of Data, Correlation, Time Series and Exponential Smoothing, Elementary Probability and Probability Distributions
Stresses Logical reasoning and problem solving skills
TOOLS Access to Microsoft Excel software required
Course Outcomes 1. Apply arithmetic and algebraic skills to everyday business problems
Course Outcomes 2. Use ratio, proportion and percent in the solution of business problems
Course Outcomes 3. Solve business problems involving commercial discount, markup and markdown
Course Outcomes 4. Solve systems of linear equations graphically and algebraically, and apply to cost- volume-profit analysis
Course Outcomes 5. Apply Statistical Representation of Data, Correlation, Time Series and Exponential Smoothing methods in business decision making
BUSINESS MATHEMATICS & STATISTICS