ASSAM UNIVERSITY SYLLABUS (NON - HONS): BUSINESS MATHEMATICS AND STATISTICS (2nd SEM - CBCS PATTERN)

B.Com: Semester II

Paper BC 2.3 : BUSINESS MATHEMATICS AND STATISTICS

Internal Assessment -30

Term End Exam – 70

Objectives: The objective of the course is to familiarize students with the applications of mathematics and statistical techniques in business decision-making.

Notes:

i) Use of simple calculator is allowed

ii) Proofs of theorems / formulate are not required

iii) Trigonometric functions are not to be covered

Part - A: Business Mathematics      Lectures: 26             10

Unit 1: Matrices

Definition of a matrix. Types of matrices; Algebra of matrices.

Calculation of values of determinants up to third order; Adjoint of matrix; Finding inverse of a matrix through ad joint; Applications of matrices to solution of simple business and economic problems.

Unit 2: Differential Calculus                                         20

Mathematical functions and their types – linear, quadratic, polynomial; Concepts of limit and continuity of a function; Concept of differentiation; Rules of differentiation – simple standard forms. Applications of differentiation – elasticity of demand and supply; Maxima and Minima of functions (involving second or third order derivatives) relating to cost, revenue and profit.

Part – B: Business Statistics

Lectures: 39                            20

Unit 3: Uni-variate analysis

Measures of Central Tendency including arithmetic mean, geometric mean and harmonic mean: properties and applications; mode and median. Partition values – quartiles, deciles, and percentiles. Measures of Variation: Absolute and relative. Range, quartile deviation and mean deviation; Variance and standard deviation: Calculation and properties.

Unit 4: Bi-variate analysis                                       20

Simple Linear correlation Analysis: Meaning and measurement. Karl Pearson’s co- efficient and Sperman’s rank correlction.

Simple Linear Regression Analysis: Regression equations and estimation. Relationship between correlation and regression co-efficiencies

Unit 5: Time-based Data: Index Numbers and Time-Series Analysis                                 20

Meaning and uses of index numbers; Construction of index numbers: Aggregative and average of relatives – simple and weighted, Tests of adequacy of index numbers, Construction of consumer price indices. Components of time series; additive and multiplicative models; Trend analysis: Finding trend by moving average method and Fitting of linear trend line using principle of least squares.

Suggested Readings:

1. Mizrahi and John Sullivan. Mathematics for Business and Social Sciences. Wiley and Sons.

2. Budnick, P. Applied Mathematics. McGraw Hill Publishing Co.

3. N.D. Vohra

4. S.N. Maheswari and S.K. Maheswari, Business Law, National Publishing House, New Delhi

5. Aggarwal S K, Business Law, Galgotia Publishers Company, New Delhi

6. Bhushan Kumar Goyal and Jain Kinneri, Business Laws, International Book House

7. Sushma Aroa, Business Laws, Taxmann Publications.

8. Akhileshwar Pathak, Legal Aspects of Business, McGraw Hill Education, 6th ed.

9. P C Tulsian and Bharat Tulsian, Business Law, McGraw Hill Education

10. Sharma, J.P. and Sunaina Kanojia, Business Laws, Ane Books Pvt. Ltv., New Delhi

Note: Latest edition of text books may be used.