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Course Manual Business Mathematics and Statistics Spring 2019

This document outlines a course on business mathematics and statistics. It covers topics including functions, derivatives, optimization, probability, and statistics. Assessment includes exams, class participation, and problem solving. The course aims to provide foundational concepts and applications in economics and finance.

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Priyanka
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50 views12 pages

Course Manual Business Mathematics and Statistics Spring 2019

This document outlines a course on business mathematics and statistics. It covers topics including functions, derivatives, optimization, probability, and statistics. Assessment includes exams, class participation, and problem solving. The course aims to provide foundational concepts and applications in economics and finance.

Uploaded by

Priyanka
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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COURSE MANUAL

Business Mathematics and Statistics

Spring 2019

Course Instructor

Pranabes Dutta
Part I

Course Title: Business Mathematics and Statistics


Course Duration: One Semester
No. of Credit Units: 4
Level: BBA. LLB Programme 2018 Section E
Medium of Instruction: English
Pre-requisites: None
Pre-cursor: None
Equivalent Courses: None
Part II

Course Description
This course introduces students to the basic concepts of mathematics and statistics which has
applications in economics and finance. Students are expected to master the basic concepts of
mathematics and introductory statistics, and go over applications of the core topics covered,
mainly from business, economics and finance.

Course Aims

 To provide students with grounding in the basic concepts of business mathematics and
statistics.

 To familiarize students with applications in economics and finance using mathematics


and statistics.

 To encourage students to appreciate the role of mathematics as a language in social


sciences and the importance of empirical analysis using data.
Course Intended Learning Outcomes

Course Intending Learning Teaching and Learning Assessment Tasks/Activities


Outcomes Activities

By the end of the course


students should be able to:

 Master the 50% Lecture, class participation, One time, closed book end
basic concepts class presentations and semester written exam
of business involvement.
mathematics Class room discussion
and statistics  Students will get
introduced to the basic
business mathematics and
statistics. Through class
participation, students
will get familiar to and
understand the subject
matter.

 Apply basic 50% Lecture, class participation  In class participation


principles of and involvementin the class in problem solving
business room discussion based on and tutorial.
mathematics readings and general
and statistics in understanding.
problems of
economics and Through participation
finance. tutorials and in-class problem
solving, students will master
applications of mathematics
and statistics in economics
and finance.

Grading of Students Achievement


Exam:

 One time end semester written exam carrying 50% weightage.

 One Mid-Semester Exam: 40%

 Class Participation: 10%


Plagiarism
Any idea, sentence or paragraph you cull from a web source must be credited with the original
source. If you paraphrase or directly quote from a web source in the exam, presentation or
essays, the source must be explicitly mentioned. You SHOULD NOT plagiarise content, be it
from scholarly sources (i.e. books and journal articles) or from the Internet. The university has
strict rules with consequences for students involved in plagiarism. This is an issue of academic
integrity on which no compromise will be made, especially as students have already been
trained in the perils of lifting sentences or paragraphs from others and claiming authorship of
them.
Part III
Keyword Syllabus
Business Mathematics, Statistics, Calculus, Differentiation, Optimization, Probability,
Estimation

Basic reading: You are not required to buy textbooks. The following free online resources are
the primary references.
Paul’s Online Notes, Lamar Unniversity (Unniversity of Texas System) [LU]
Online Stats Book [OSB]
Additional Reading:
We would also be referring to the following online resources:
1. http://educ.jmu.edu/~drakepp/FIN360/readings/regression_excel.pdf

2. http://www4.ncsu.edu/~wthurman/are495/Regression_in_Excel_Easy_Excel_Tutorial.pdf

3. http://cameron.econ.ucdavis.edu/excel/ex61multipleregression.html

4. Any other material referred to would be declared when they are used and an
email would be sent to that effect.
Part IV
Lecture Programme and Schedule

Teaching Week Lecture Title


1 Functions

2 Tangent lines and rates of change

3 Limits and their properties; Definition and interpretation of Derivatives

4 Differentiation Formulas and Rules; Related rates; Higher order derivatives

Applications of Derivatives: Rates of Change, Critical points, Maxima and


5, 6 Minima; Optimization

7 Revision and Practice

8 Introduction to Statistics: What is Statistics? Data and Representation

9 Central Tendency

10 Dispersion

11 Correlation and Regression

12 Probability Theory and Estimation

13 Statistics Using Excel

14 Revision and Practice


Details on Week-Wise Lecture Outline and Readings
Week 1

Functions

 Domain and Range of Functions; graphs

 Composite functions, Inverse functions, Exponential and logarithm equations

 Common graphs.

 Reading:

 Corresponding sections from the Review section of LU

Week 2

Tangents

 Tangent lines and rates of change

 Velocity problem

 Change in notation

 Readings:

 Corresponding sections of LU

Week 3

Limits and Derivatives

 Limits

 Computation of limits

 Properties of limits and continuity

 Definition of derivative

Readings:
 Corresponding sections of LU

Week 4

Differentiation

 Differentiation formulas

 Product and Quotient rules

 Derivatives of exponential and log functions

 Chain Rule

 Implicit differentiation

 Higher order derivatives

 Readings:

 Corresponding sections of LU

Week 5 and 6

Optimization

 Critical points

 Minimum and Maximum values

 Optimization problems

 Readings:

 Corresponding sections of LU

Week 7: Revision

Week 8

Introduction to Statistics

 What is statistics? Functions and limitations.


 Data and representation: frequency and non-frequency data; tabulation; diagrammatic
representation.

 Frequency distribution: attribute and variable; discrete and continuous variable; graphical
representation.

 Readings:

 OSB: Pgs 11-34; selected sections from Pgs 76-109

Week 9

Central Tendency

 Meaning; common measures; requirements of an ideal average.

 Mean; median; mode; geometric mean; harmonic mean.

 Weighted mean.

 Readings:

 OSB: Chapter 3

Week 10

Dispersion

 Range; mean deviation; standard deviation; quantile and percentile; quartile deviation.

 Comparisons of measure of dispersion.

 Skewness and kurtosis

 Readings:

 OSB: Chapter 3

Week 11

Correlation and Regression

 Bivariate analysis: simple correlation and regression, scatter diagram; correlation;


correlation coefficient; regression; limitations of correlation coefficient.

 Least squares.
 Readings:

 OSB: Pgs 165-176; additional readings

Week 12

Probability Theory and Estimation

 Probabilty: examples and calculation

 Classical definition and limitation; frequency definition; conditional probability; Bayes’


rule; statistical independence.

 Readings:

 OSB: Pgs 185-202; 212-215

Week 13
Statistics using Excel

 Use Microsoft Excel for statistical analysis such as mean and median, standard deviation,
and regressions, and how to interpret data (such as a grading curve).

Week 14: Revision

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