BUSINESS MATHEMATICS & STATISTICS. LECTURE 1 COURSE OVERVIEW.

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Presentation transcript:

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