Syllabus - Modified Scheme of Study

Operational Level-2


(05) BUSINESS MATHEMATICS & STATISTICAL INFERENCE

PART - A WEIGHTAGE 40%
Business Mathematics
1. Basic Mathematical Techniques
• Integers, Fractions and Decimals
• Using Scientific & Financial Calculator
• Order of Operations
• Percentage and Ratios
• Roots and Powers
• Errors
2. Formulae and Equations
• Introduction
• Manipulating Inequalities
• Linear Equations
• Linear Equations and Graphs
• Simultaneous Equations
• Non-Linear Equations
3. Derivatives
• Concept of Derivative and differentiation
• Basic Rules of differentiation
• Instantaneous rate of change
• Derivatives, Maxima and Minima & Point of Inflection
4 Compounding and Discounting
• Simple Interest
• Compound Interest
• Equivalent Rates of Interest
• Regular Savings and Sinking Funds
• Loan and Mortgages
• Concept of Discounting
5 Basic Investment Appraisal
• Net Present Value (NPV) Method
• Internal Rate of Return (IRR) Method
• Annuities and Perpetuities
• Linking Compounding and Discounting
• Using Spreadsheet
• Shareholder Value
PART - B WEIGHTAGE 60%
Statistics and Statistical Inference
6 Data and Information
• Introduction
• Characteristics of Good Information
• Data Type
7 Collection and Presentation of data
• Tables
• Charts
• Frequency Distribution
• Histograms
• Ogives
• Scatter Diagram
8 Averages
• Arithmetic Mean
• Mode
• Median
9 Dispersion
• Range
• Quartiles and the Semi-Quartiles Range
• Mean Deviation
• Variance and Standard Deviation
• Coefficient of Variation
• Skewness
10 Correlation and Linear Regression
• Correlation
• Correlation Coefficient and Coefficient of determination
• Spearman’s Rank Correlation Coefficient
• Lines of Best Fit
• Scatter Graph Method
• Linear Regression Analysis
• Using Spreadsheets
11 Index numbers
• Basic Terminology
• Index Relatives
• Time Series of Index Relatives
• Time Series Deflation
• Composite Index Numbers
• Weighted Index Numbers
• Retail Price Index for Pakistan
12 Probability
• Concept of Probability
• Rules of Probability
• Expected Values
• Expectation and Decision Making
13 Normal distribution
• Probability Distributions
• Normal Distribution
• Standard Normal Distribution
• Using Normal Distribution to Calculate Probabilities
• Pareto Distribution and 80:20 Rule
14 Estimation & Testing
• Confidence Interval Z and T test for single population mean
• Testing hypothesis Z and T test for single population mean
15 Sampling & Sampling Frequency Distribution
• Sampling Frequency Distribution with & without replacement for sample size 2 and 3
• Random and Non-Random Sampling
• Sampling Frequency distribution for proportion
16 Forecasting - Time series
• Components of Time Series
• Finding the Trend
• Finding the Seasonal Variations
• Forecasting
• Limitation of Forecasting Models
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