# Business Mathematics & Statistics: Course Outline

The scope of the course is to see the horizon of Mathematics & Statistics application in business and financial affairs. The course stresses business applications using arithmetic, algebra, and ratio-proportion and graphing.

## Course Contents

SET THEORY AND SYSTEM OF LINEAR EQUATIONS

• Set Theory, Types of sets
• Methods of Representing sets ,Venn Diagram
• System of Linear Equations and its Applications
• Solution of Linear system of equations as well as solution by graphically method
• Sets and properties of sets
• Slopes, distance between two points, graphical understanding
• Rate, Ratio, proportion, percentage, Interest, depreciation and fraction.
• Pie chart, bar chart and word problems
• Real number and real line
• Solution of linear equations involving one and two variables and presenting them in real line
• Discount, profits and general understanding of business
• Mathematics of merchandise

Matrices:

• Introduction of matrices, addition, subtraction and multiplication of matrices
• Inverse of matrices and linear solution
• Solution of linear equations involving more than two variables
• Introduction to optimization and linear programming

Descriptive Statistics

• Introduction to Statistics
• Constructing a Frequency Distribution
• Graphing Frequency Distribution
• Measures of Central Tendency
• Percentiles, Declines and Quartiles
• Measures of Dispersion and skewness
• Range and Semi-Inter quartile Range
• Coefficient of Variation
• Chebysshev’s Inequality

## Course Contents

Probability:

• Definitions of Probability
• Addition and Multiplication Rules of Probability
• Probability Distribution
• Discrete Probability Distribution
• Expected Values and Variance
• Continuous Probability Distribution
• The Binomial Distribution
• The Poisson Distribution
• Hyper geometric Distribution
• The Normal Distribution

SAMPLING AND SAMPLING DISTRIBUTION

• Population and Sample
• Parameters and Estimators
• Reasons for Sampling
• Random Sampling
• Stratifies Random Sampling
• Systematic Sampling
• Cluster Sampling
• Sampling Distributions
• Point and Interval Estimation
• Determination of Sample Size

TESTING OF HYPOTHESIS

• The rationale of Hypothesis
• Testing Type of Errors
• Testing Hypothesis about One Mean
• Testing Hypothesis about Two Means
• Goodness of Fit
• Contingency Table Analysis

REGRESSION AND CORRELATION ANALYSIS

• The Functional Relationship between Two Variables
• Scatter Diagram
• Linear Correlation
• Inferences Concerning Correlation Coefficient
• The Linear Regression Equation
• The Principle of Least Squares
• Estimating Regression Equation
• Coefficient of Determination
• Multiple Regression and Correlation Analysis