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Iqra University

Course Outline BUSINESS MATHEMATICS & STATISTICS WELCOME TO THE CLASS

Introduction: I look forward to have a fruitful and meaningful interaction with each one of you during the term. This will however depend on your active participation and attention during the class sessions and an active follow up afterwards. Course Description: This course is an introduction to statistical methods used in business decision-making. To briefly review basic math; to introduce students to a number of business topics and to teach students the calculations required in solving business math problems. Course Objective: To explain the basic concepts of statistics with an understanding of business To provide different statistical ideas for improving business conditions Increase his or her awareness and understanding of the uses of mathematics and statistics in business decision-making Realize a variety of methods that enhance the decision-making process Start to recognize and understand situations in which statistical tools can appropriately aid in the decision-making process Teaching Methodology & Requirements: Please arrive and leave on time. Class will begin promptly five minutes after the hour and will end exactly on the hour. Late arrivals and early departures disrupt class and ruin the presentations of others. They are unprofessional. Do your own work. Plagiarism and cheating will lead to dismissal. Do not copy the work of others. Do not use others to do your work. Do not pass off work done in past semesters as work done for this course. Assignments must incorporate lessons taught in class. Personal assignments must be produced individually. Group assignments must be produced by the members of the group. Students will be expected to read assignments in advance of their discussion in class. Class time will be used to emphasize and clarify some text material, but additional topics will be discussed as well. This will not be a lecture-only course. You will be asked to discuss what you have read. While you should expect to be frequently called on in class, you should also voluntarily discuss and ask questions. READ AND BE PREPARED TO DISCUSS ALL DISCUSSJON QUESTIONS AND/OR CASES AT THE END OF EACH CHAPTER. Class meetings will NOT cover everything in the text. Separate instructions will be provided for assignments. All written assignments must be handed in at the beginning of

class on the due dates. They will not be accepted after the class has begun. All assignments not completed on time (not handed in before class has begun) will receive a zero. Check the schedule for due dates. It is essential to keep current with the chapter assignments. Classroom conduct is predicated on the assumption that you have read the relevant material. You are most welcome to ask questions in class dealing with any material being presented, and to take an active role in class participation. COURSE CONTENTS: Session 1 2 3 Description Review of Algebra Solving First-Degree Equations Solving Second-Degree Equations Characteristics of Linear Equations Graphical Characteristics Slope-Intercept Form Determining the Equation of a St. Line Determining the Equation of a St. Line Two-Variable Systems of Equations Mathematical Functions Types of Functions Linear Functions: Applications Examples of Linear Functions Break-Even Models Mid-Term Exam Quadratic Functions Quadratic Functions: Applications Introduction to Statistics Frequency Distributions Descriptive Statistics Descriptive Statistics Introduction to Probabaility Probability and Expected Value Conditional Probability Contingency tables Review for Final Exam Final Exam Chapter Appendix Chapter 1 Chapter 2 Sections A-1, A-2 1.1 1.2 2.1 2.2 2.3 2.4 2.4 3.1 4.1 4.2 5.1 5.2 5.3 6.1 6.2 3.2 3.3 3.5 3.5 4.1 4.2 4.3 4.3

4 5 6 7 8 9 10 11 12 13 14 15 16 17

Chapter 3 Chapter 4 Chapter 4 Chapter 5

Chapter 6 Chapter 3

Chapter 4

Required Textbooks: Applied Mathematics for Business, Economics, and the Social Sciences, Frank S. Budnick, 4th edition. Statistics: A Basic Course, Donald Sanders, 5th edition.