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Business Mathematics and Statistical Inference PDF

This document outlines a course on Business Mathematics and Statistical Inference. The course aims to provide students with basic knowledge of mathematics and statistics for business decision making. It covers topics such as mathematical techniques, formulae, derivatives, compounding and discounting, investment appraisal, data collection and presentation, averages, dispersion, correlation, probability, normal distribution, estimation, testing, sampling, and forecasting. The course is divided into two parts - part A focuses on basic mathematical techniques and covers 40% of the syllabus, while part B focuses on statistical techniques and covers 60% of the syllabus. Upon completing the course, students should be able to apply the appropriate mathematical and statistical methods and techniques to business problems.

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1K views

Business Mathematics and Statistical Inference PDF

This document outlines a course on Business Mathematics and Statistical Inference. The course aims to provide students with basic knowledge of mathematics and statistics for business decision making. It covers topics such as mathematical techniques, formulae, derivatives, compounding and discounting, investment appraisal, data collection and presentation, averages, dispersion, correlation, probability, normal distribution, estimation, testing, sampling, and forecasting. The course is divided into two parts - part A focuses on basic mathematical techniques and covers 40% of the syllabus, while part B focuses on statistical techniques and covers 60% of the syllabus. Upon completing the course, students should be able to apply the appropriate mathematical and statistical methods and techniques to business problems.

Uploaded by

OPTIMA Consulting
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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SEMESTER 2

BUSINESS MATHEMATICS & STATISTICAL INFERENCE [ML-202]


INTRODUCTION  present the results of quantitative nature, in a suitable
This course comprises basic concepts and techniques of form for taking business decisions.
mathematics & statistics. A thorough knowledge in the areas
of basic mathematics and presentation of data, is an essential OUTCOMES
skill for management accountant. The management On completion of this course, students should be able to:
accountant should understand statistical concepts, because of  describe and demonstrate the use of mathematical and
the need to estimate the uncertainties of business decisions. statistical techniques,
This course also gives basic understanding of mathematical  understand the proper use of formulae and equations,
techniques applied for, forecasting in corporate planning and  get acquainted with the use of derivate,
Financial Management.  describe and apply financial mathematical techniques,
 describe reasonableness in the computation of answer,
OBJECTIVES  comprehend and apply techniques for summarising and
To provide the students with the basic knowledge of analysing data,
mathematics and statistics to enable them to:  describe and demonstrate the use of probability, in case
 use and interpret mathematical and statistical methods, of involvement of risk and uncertainty,
and  describe and demonstrate forecasting techniques.

PART SYLLABUS CONTENT AREA WEIGHTAGE


1 Basic Mathematical Techniques
2 Formulae and Equations
3 Derivatives
A 40%
4 Compounding and Discounting
5 Basic Investment Appraisal

6 Data and Information


7 Collection and Presentation of data
8 Averages
9 Dispersion
10 Correlation and Linear Regression
11 Index numbers
B 60%
12 Probability
13 Normal distribution
14 Estimation & Testing
15 Sampling & Sampling Frequency Distribution
16 Forecasting - Time series

TOTAL 100%

Note: The weightage shown against each section indicates, study time required for the topics in that section. This weightage does
not necessarily specify the number of marks to be allocated to that section in the examination.

RECOMMENDED BOOKS
CORE READINGS
TITLE AUTHOR PUBLISHER
CIMA, UK Study Text --- BPP
Relevant Study Text --- Kaplan Publishing
Introduction to Statistics Ronald E. Walpole Macmillan Publishing Co.
Quantitative Techniques Terry Lucy Cengage Learning
Applied Mathematics for Business, Economics
Frank S. Budnick McGraw-Hill
& the Social Sciences.
ADDITIONAL READING
Statistics for Economics and Management Hamid A. Hakeem Meyari Matbooaat, Karachi.
Barry Render / Ralph M. Stair / Jr. Michael
Quantitative Analysis for Management Prentice Hall / Pearson / Financial Times
E. Hanna / T. N. Badri
Farooq Kitab Ghar, 32-33 Urdu Bazar,
Statistics: Concepts and Methods Syed Khursheed Alam
Karachi.
Mirza Muhammad Hassan / Farooq Kitab Ghar, 32-33 Urdu Bazar,
Business Mathematics
Muhammad Ali Mirza Karachi.

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