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AD23: BUSINESS MATHEMATICS AND STATISTICS

Description

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GENERAL OBJECTIVE

This paper is intended to equip the candidate with the knowledge, skills and attitudes that will enable him/her to apply the principles of management in practice.

LEARNING OUTCOMES

A candidate who passes this paper should be able to:

Apply linear, quadratic and simultaneous equations to solve business problems

Solve business problems using matrix algebra

Solve business problems involving commercial mathematics

Present statistical data in form of tables, graphs and curves

Calculate measures of location, dispersion, skewness and kurtosis

Apply basic probability concepts

Compute simple, general and weighted index

Weekly Course Recap Zoom Session

What Will I Learn?

  • Linear, quadratic and simultaneous equations to solve business problems
  • Solution to business problems using matrix algebra
  • Solution to business problems involving commercial mathematics
  • Statistical data in form of tables, graphs and curves
  • Measures of location, dispersion, skewness and kurtosis
  • Probability concepts
  • Simple, general and weighted index

Topics for this course

9 Lessons77h

EQUATIONS?

- Linear equations; solving and graphs - Simultaneous equations; solving - Quadratic equations; solving and graphs - Basic calculus; simple differentiation and integration - Total revenue, total cost and profit equations - Break-even analysis - Application of errors; absolute/relative
Linear equations; solving and graphs
Simultaneous equations; solving
Quadratic equations; solving and graphs
Basic calculus; simple differentiation and integration
Total revenue, total cost and profit equations
Break-even analysis
Application of errors; absolute/relative

SEQUENCES AND SERIES?

- Arithmetic progression(A.P): nth term, sum of first n terms - Geometric progression (G.P): nth term, sum of first n terms

MATRICES?

- Introduction: order of matrices, types of matrices - Addition, subtraction and multiplication of matrices - Determinants of 2x2 matrices - Inverses of 2x2 matrices - Application of matrices in solving business problems

COMMERCIAL MATHEMATICS?

- Buying and selling; discounts, profit and loss, margins and mark-ups - Wages and salaries; piece and hourly rates, commissions, gross and net pay - Statutory deductions; PAYE, NHIF, NSSF - Simple and compound interest - Depreciation and appreciation of assets - Hire purchase - Foreign exchange rate transactions

INTRODUCTION TO STATISTICS?

- Introduction: definitions and branches of statistics - Methods of data collection: primary and secondary data, - Sampling techniques

PRESENTATION OF STATISTICAL DATA?

- Tables - Diagrams: bar charts and pie charts - Graphs: time series graphs, Z-charts, Lorenz curves and semi-logarithmic graphs - Frequency distribution tables - Histogram and frequency polygons - Cumulative frequency curve (ogive) and its application

DESCRIPTIVE STATISTICS?

- Measures of central tendency: mean: arithmetic mean, weighted arithmetic mean; geometric mean, harmonic mean, median and mode. - Measures of dispersion: range, quartile, deciles, percentiles, mean deviation, standard deviation and coefficient of variation - Measures of skewness: pearsons coefficient of skewness, product coefficient of skewness - Measures of kurtosis: pearsons coefficient of kurtosis, product coefficient of kurtosis.

SET THEORY?

- Introduction to set theory - Types of sets: universal, empty/null, subsets, finite and infinite - Operation of sets: unions, intersections, complements and set difference - Venn diagrams

BASIC PROBABILITY THEORY?

- Introduction to probability: definitions, events, outcomes, sample space - Types of events: simple, compound, independent, mutually exclusive, mutually inclusive, dependent events - Rules of probability: additive and multiplicative rules - Introduction to counting techniques, combinations and permutations - Baye’s Theorem - Elementary probability trees

INDEX NUMBERS?

- Construction of index numbers - Purpose of index numbers - Simple index numbers; fixed base method and chain base method - Weighted index numbers; Laspeyre’s, Paasche’s, Fisher’s ideal and Marshall, Edgeworth’s methods (both price and quantity index numbers) - Consumer Price Index (CPI) - Applications of CPI - Limitations of index numbers

EMERGING ISSUES AND TRENDS

About the instructors

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GlobopointConsultantsLtd

e-Learning Training and Consultation

 

Globopoint Consultants Limited is a fully registered Research, Training, and Consultancy firm based in Mombasa Kenya serving the entire East African region and beyond. The company is geared towards building professionals, entrepreneurs, growing businesses, and fostering sustainable economic development.

Globopoint Learning center is a fully accredited institution run by Globopoint Consultants Limited to specifically nurture modern-day professionals in the business field in an easy, practical, and convenient way.

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144 Courses

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1 Courses

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KSh1,000.00

Material Includes

  • Regularly updated online notes
  • Handouts
  • Zoom sessions
  • Video Clips & Recordings
  • KASNEB Past Papers Questions and Answers
  • Case Studies

Requirements

  • PASS in ATD Level 1

Target Audience

  • ATD Level 2 Students
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