Professional Documents
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MTH 302
LECTURE 1
COURSE OVERVIEW
1 COURSE TITLE
The title of this course is “BUSINESS MATHEMATICS AND STATISTICS”.
2 Instructor’s Resume
The instructor of the course is Dr. Zahir Fikri who holds a Ph.D. in Electric Power
Systems Engineering from the Royal Institute of Technology, Stockholm, Sweden. The
title of Dr. Fikri’s thesis was “Statistical Load Forecasting for Distribution Network
Planning”.
3 Objective
The purpose of the course is to provide the student with a mathematical basis for personal
and business financial decisions through eight instructional modules.
The course stresses business applications using arithmetic, algebra, and ratio-
proportion and graphing.
4 Course Outcomes
Successful completion of the following units will enable the student to apply mathematical
methods to business problems solving.
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Business Mathematics & Statistics (MTH 302)
7 Optional Resources
Handouts supplied by the professor.
Instructor’s Slides Online or CD based learning materials.
8 Prerequisites
The students are not required to have any mathematical skills. Basic knowledge of
Microsoft Excel will be an advantage but not a requirement.
9 Evaluation
In order to successfully complete this course, the student is required to meet the following
evaluation criteria:
Full participation is expected for this course
All assignments must be completed by the closing date.
Overall grade will be based on VU existing Grading Rules.
All requirements must be met in order to pass the course.
10 COURSE MODULES
The following are the main modules of this course:
Module 1
Overview (Lecture 1)
Perform arithmetic operations in their proper order (Lecture 2)
Convert fractions their percent and decimal equivalents. (Lecture 2)
Solve for any one of percent, portion or base, given the other two quantities.
(Lecture 2)
Using Microsoft Excel (Lecture 2)
Calculate the gross earnings of employees paid a salary, an hourly wage or
commissions. (Lecture 3)
Calculate the simple average or weighted average given a set of values.
(Lecture 4)
Perform basic calculations of the percentages, averages, commission,
brokerage and discount (Lecture 5)
Simple and compound interest (Lecture 6)
Average due date, interest on drawings and calendar (Lecture 6)
Module 2
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Business Mathematics & Statistics (MTH 302)
Module 3
Module 4
Module 5
Module 6
Module 7
Module 8
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Business Mathematics & Statistics (MTH 302)
11 MARKING SCHEME
As per VU Rules.
12 DESCRIPTION OF TOPICS
LECTUR RECOMMENDE
NO. MAIN TOPIC TOPICS
E D READING
1
1.0
Module Applications of Overviewew (Lecture 1) Reference 1
1 Basic
Mathematics
( Lectures 1-6)
2 Course Overview
Reference 2,
Module Lecture 2
Arithmetic Operations &
1 Tool: Microsoft
Excel
Using Microsoft Excel
3 Calculate Gross Earnings Reference 2,
Module Lecture 3
1 Tool: Microsoft
Using Microsoft Excel Excel
4 Calculating simple or Reference 2,
weighted averages Lecture 4
Module
Tool: Microsoft
1
Excel
Using Microsoft Excel Reference 6
5 Basic calculations of Reference 2,
percentages, averages, Lecture 5
commission, brokerage Reference 3, Ch
Module
and discount using 3
1
Tool: Microsoft
Excel
Microsoft Excel
6 Reference 2,
Simple and compound Lecture 6
interest Reference 3, Ch
Module
3
1
Average due date, interest
on drawings and calendar Tool: Microsoft
Excel
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Business Mathematics & Statistics (MTH 302)
7
Exponents and radicals
Reference 2,
2.0 Simplify algebraic
Lecture 7
Applications of expressions
Reference 3, Ch
Module Basic Algebra Solve linear equations in
2
2 one variable Tool: Microsoft
Rearrange formulas to Excel
( Lectures 7-9)
solve for any of its
contained variables
11 Reference 2,
Set up and manipulate
Lecture 11
ratios.
Reference 3, Ch
Module Allocate an amount on a
3
2 prorata basis using
Tool: Microsoft
proportions
Excel
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Business Mathematics & Statistics (MTH 302)
( Lectures 12-
16)
13 Reference 2,
Lecture 13
Solve merchandising
Reference 3, Ch
Module pricing problems
3
3 involving markup and
Tool: Microsoft
markdown.
Excel
14 Reference 2,
Lecture 14
Reference 3, Ch
3
Module Financial Mathematics
Reference 5, Ch
3 Part 1
16
Tool: Microsoft
Excel
15 Reference 2,
Lecture 15
Reference 3, Ch
3
Module Financial Mathematics Reference 5, Ch
3 Part 2 16
Tool: Microsoft
Excel
16 Reference 2,
Lecture 16
Reference 3, Ch
3
Module Financial Mathematics
Reference 5, Ch
3 Part 3
16
Tool: Microsoft
Excel
17 Reference 2,
Lecture 17
5.0 Break-Even Reference 3, Ch
Analysis 3
Module Graph a linear equation in
Reference 5, Ch
4 two variables.
( Lectures 17- 16 & 18
22)
Tool: Microsoft
Excel
Module 18 Solve two linear equations Reference 2,
4 with two unknowns Lecture 18
Reference 3, Ch
2
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Business Mathematics & Statistics (MTH 302)
Reference 5, Ch
1
Tool: Microsoft
Excel
19 Perform linear cost- Reference 2,
Module volume profit and break- Lecture 19
4 even analysis. Tool: Microsoft
Using a break-even chart Excel
20 Perform linear cost-
volume profit and break-
Reference 2,
even analysis.
Module Lecture 20
Using the algebraic
4 Tool: Microsoft
approach of solving the Excel
cost and revenue
functions
21 Perform linear cost-
Reference 2,
volume profit and break-
Module Lecture 21
even analysis.
4 Tool: Microsoft
Using the contribution
Excel
margin approach
22 Perform linear cost-
volume profit and break- Reference 2,
Module even analysis. Lecture 22
4 Using Microsoft Excel Tool: Microsoft
Assignment Module 3-4 Excel
Mid-Term Examination
6. Statistical 23 Reference 2,
Representation Lecture 23
Module of Data Reference 5, Ch
Statistical Data
5 ( Lectures 23- 5
27) Tool: Microsoft
Excel
24 Reference 2,
Lecture 24
Statistical Representation Reference 4, Ch
Module Measures of Central 3
5 Tendency Reference 5, Ch
Part 1 6
Tool: Microsoft
Excel
25 Reference 2,
Lecture 25
Statistical Representation
Reference 4, Ch
Measures of Central
Module 3
Tendency
5 Reference 5, Ch
Part 2 6
Tool: Microsoft
Excel
Module 26 Measures of Dispersion Reference 2,
5 and Skewness Lecture 26
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Business Mathematics & Statistics (MTH 302)
Reference 4, Ch
4
Reference 5, Ch
Part 1
6
Tool: Microsoft
Excel
27 Reference 2,
Lecture 27
Reference 4, Ch
4
Measures of Dispersion Reference 5, Ch
Module
and Skewness 6
5
Part 2 Tool: Microsoft
Excel
7. Correlation, 28
Reference 2,
Time Series
Lecture 28
and
Reference 5, Ch
Module Exponential Correlation
13
6 Smoothing Part 1
( Lectures 28-
Tool: Microsoft
33)
Excel
29 Reference 2,
Lecture 29
Reference 5, Ch
Correlation 13
Part 2 Tool: Microsoft
Excel
30 Reference 2,
Lecture 30
Reference 5, Ch
Line Fitting 14
Part 1 Tool: Microsoft
Excel
31 Reference 2,
Line Fitting Lecture 31
Part 2 Tool: Microsoft
Excel
32 Reference 2,
Lecture 32
Reference 5, Ch
Time Series and
15
Exponential Smoothing
Tool: Microsoft
Part 1 Excel
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Business Mathematics & Statistics (MTH 302)
33 Reference 2,
Lecture 33
Time Series and Reference 5, Ch
Exponential Smoothing 15
Part 2
Assignment Module 5-6 Tool: Microsoft
Excel
34 Reference 2,
Lecture 34
7. Elementary
Reference 3, Ch
Probability Factorials
Module 2
( Lectures 34- Permutations and
7
38) Combinations
Tool: Microsoft
Excel
35 Reference 2,
Lecture 35
Reference 5, Ch
Module Elementary Probability 8
7 Part 1
Tool: Microsoft
Excel
36 Reference 2,
Lecture 36
Reference 5, Ch
Module Elementary Probability 8
7 Part 2 Tool: Microsoft
Excel
37 Reference 2,
Patterns of probability: Lecture 39
Binomial, Poisson and Reference 5, Ch
Module
Normal Distributions 9
7
Part 1
Tool: Microsoft
Excel
38 Reference 2,
Lecture 40
Patterns of probability: Reference 5, Ch
Module Binomial, Poisson and 9
7 Normal Distributions Tool: Microsoft
Part 2 Excel
Tool: Microsoft
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Business Mathematics & Statistics (MTH 302)
Excel
40 Reference 2,
Lecture 41
Patterns of probability:
Reference 5, Ch
Module Binomial, Poisson and
9
7 Normal Distributions
Part 4
Tool: Microsoft
Excel
8. Probability 41
Reference 2,
Distributions
Lecture 42
( Lectures 39-
Estimating from Samples: Reference 5, Ch
Module 44)
Inference 10
8 9. Linear
Part 1
Programming
Tool: Microsoft
(Lecture 45)
Excel
42 Reference 2,
Lecture 43
Estimating from Samples: Reference 5, Ch
Module
Inference 10
8
Part 2 Tool: Microsoft
Excel
43 Reference 2,
Lecture 44
Hypothesis testing : Chi-
Reference 5, Ch
Module Square Distribution
11
8 Part 1
Tool: Microsoft
Excel
44 Reference 2,
Hypothesis testing : Chi- Lecture 45
Module Square Distribution Reference 5, Ch
8 Part 2 11
Tool: Microsoft
Excel
45 Reference 2,
Production Planning:
Lecture 45
Linear Programming
Module Reference 5, Ch
Assignment Module 7-8
8 18
End Term Examination Tool: Microsoft
Excel
13 Methodology
There will be 45 lectures each of 50 minutes duration as indicated above. The lectures
will be delivered in a mixture of Urdu and English. The lectures will be heavily supported
by slide presentations. The slides for a lecture will be made available on the VU website
for the course a few days before the actual lecture is televised. This will allow students to
carry out preparatory reading before the lecture. The course will be provided its own page
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Business Mathematics & Statistics (MTH 302)
on the VU’s web site. This will be used to provide lecture and other supporting material
from the course to the students. The page will have a link to a web-based discussion and
bulletin board for the students. Teaching assistants will be assigned by VU to provide
various forms of assistance such as grading, answering questions posted by students
and preparation of slides.
14 Grading
There will be a term exam and one final examination. There will also be 4 assignments
each covering two modules. The final exam will be comprehensive. These will contribute
the following percentages to the final grade:
16 Schedule of Lectures
Given above is the tentative schedule of topics to be covered. Minor changes may occur but
these will be announced well in advanc
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