Aims of the book.
The general aim of the book is to give a thorough grounding in basic Mathematical and Statistical techniques to students of Business and Professional studies. No prior knowledge of the subject area is assumed.
a) The book is intended to support the courses of the following professional bodies: Chartered Association of Certified Accountants, Chartered Institute of Management Accountants, Institute of Chartered Secretaries and Administrators
b) The courses of the following bodies which will be supported by the book to a large extent: Chartered Institute of Insurance, NVQ Level 2, Association of Accounting Technicians
c) The book is also meant to cater for the students of any other courses who require a practical foundation of Mathematical and Statistical techniques used in Business, Commerce and Industry.
Format of the book
The book has been written in a standardised format as follows
a) There are TEN separate parts which contain standard examination testing areas
b) Numbered chapters split up the parts into smaller, identifiable segments, each of which have their own Summaries and Points to Note
c) Numbered sections split the chapters up into smaller logical elements involving descriptions, definitions, formulae or examples.
At the end of each chapter, there is a Student Self Review section which contains questions that are meant to test general concepts, and a Student Exercise section which concentrates on the more practical numerical aspects covered in the chapter.
At the end of each part, there is
a) a separate section containing examination examples with worked solutions and
b) examination questions from various bodies. Worked solutions to these questions are given at the end of the book.
How to use the book
Chapters in the book should be studied in the order that they occur. After studying each section in a chapter, the Summaries and Points to Note should be checked through. The Student Self Review Questions, which are cross-referenced to appropriate sections, should first be attempted unaided, before checking the answers with the text. Finally the Student Exercises should be worked through and the answers obtained checked with those given at the end of the book. After completing a particular part of the book, the relevant section of the examination questions (at the end of the book) should be attempted. These questions should be considered as an integral part of the book, all the subject matter included having been covered in previous chapters and parts. Always make some attempt at the questions before reading the solution.
The use of calculators
Examining bodies permit electronic calculators to be used in examinations. It is therefore essential that students equip themselves with a calculator from the beginning of the course.Essential facilities that the calculator should include are:
a) a square root function, and
b) an accumulating memory.
Very desirable extra facilities are:c) a power function (labelled xy),
d) a logarithm function (labelled log x), and
e) an exponential function (labelled ex).
Some examining bodies may exclude the use (during examinations) of programmable calculators and/or calculators that provide specific statistical functions such as the mean or the standard deviation. Students are thus urged to check on this point before they purchase a calculator. Where relevant, this book includes sections which describe techniques for using calculators to their best effect.
A particular problem for business managers is that most decisions often need to be taken in the light of incomplete information. The techniques described in the 6th edition of Andre Francis' best-selling Business Mathematics and Statistics enable structures to be built up to help managers alleviate this problem.
The 6th edition provides a thorough grounding in basic mathematical and statistical techniques for business students, and students on professional courses such as accounting. The result is a comprehensive, user-friendly, testing-oriented guide to quantitative methods for business.
Provides an accessible and practical foundation in the mathematical and statistical techniques used in business and management.
Ten separate parts divide the topic into the standard examination testing areas.
Numbered chapters further divide the parts into smaller identifiable segments, each of which has its own summaries and points to note.
Each chapter ends with a student self-review section to test general concepts, and a student exercise section that concentrates on the more practical, numerical aspects covered in the chapter.
Each part ends with a set of examination examples with worked solutions, and a set of actual examination questions from various professional bodies, providing practical and effective preparation for student examinations. The answers to these examination questions are given at the end of the book.
The 6th edition has been revised and updated throughout and now includes a much larger set of examination questions.