This subject will help the students understand the business mathematics, formula, calculation of interest, equated monthly installment, manipulation of matrices and various statistical tools and techniques in the business decision making and help preparing various reports.
1. Introduction (08 hrs)
Business mathematics, its scope and importance.
2. Interest (10 hrs)
Simple interest, compound interest (reducing balance and flat interest, rate of interest) equated monthly installment (EMI) and problems.
3. Matrix (15 hrs)
Definition and types of matrices, addition of matrices, multiplication of a matrix by Non zero scalar, subtraction of matrices.
4. Introduction to Statistics (06 hrs)
Definition, Scope and Limitation of Statistics
5. Measurement of Central Tendency (15 hrs)
Mean, mode, median, geometric mean, harmonic mean, arithmetic mean.
6. Measures of Dispersion (10 hrs)
Quartile deviation, average deviation and standard deviation
Since this subject being mathematical, the teacher must give at least five problems of each topic as home assignment to be done independently by the student and side wise evaluation of the same must take place regularly. This should be supplemented with tutorial assignments.
The teacher should give following tutorial assignments:
1. Numerical problems related to calculation of interest simple and compound
2. Numerical problems on Matrices
3. Numerical problems for calculating Mean, mode, median, geometric mean, harmonic mean, arithmetic mean.
4. Numerical problems on dispersion