Institute of Commercial Management | Qualification Subject

Numeracy & Statistics

Main Topics of Study

Revision of Basic Mathematical Techniques

  • Integers, fractions and decimals
  • Order of operations – brackets
  • Percentages and ratios – percentages, profits, proportions and ratios
  • Roots and powers – powers, roots, rules for powers

Equations and Graphs

  • Formulae and equations – manipulating equalities, linear equations
  • Graphs – linear equations and graphs, simultaneous equations, non-linear equations

Data Presentation and Measurements of Location and Dispersion

  • Data – data and information, quantitative and qualitative data, primary and secondary data, discrete and continuous data
  • Data presentation – pictograms, tables, charts (bar charts, pie charts), frequency distributions, histograms, frequency polygons, ogives, scatter diagrams
  • Averages – the arithmetic mean, the mode, the median
  • Dispersion – the range quartiles and the semi-interquartile range

Probability

  • The concept and rules of probability
  • Expected values
  • Expectation and decision-making

Frequency Distributions, the Normal Curve and Sampling

  • Probability distributions
  • The normal distribution
  • The standard normal distribution

Financial Mathematics

  • Interest – simple interest, compound interest, inflation, changes in the rate of interest
  • Savings and loans – regular savings, sinking funds, loans, mortgages

Recommended Reading

Main Text:

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Business Essentials – Business Maths: Study Text (2013), BPP Learning Media

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