Business Mathematics and Statistics

• Introduce the fundamental concepts and applications of mathematics in the business context.
• Familiarize with various types of data relevant to business operations and the sources from which such data can be collected.
• Equip with the skills to organize data through frequency distribution and represent it visually using charts and graphs.
• Interpret measures of central tendency (mean, median, mode) in the context of business, providing them with tools to summarize and analyze data distributions.
• Develop proficiency in using measures of dispersion, skewness, and standard deviation for analyzing variability and risk in business data.

• Articulate the importance of mathematics in business and apply mathematical concepts to real-world scenarios.
• Demonstrate the ability to identify and categorize different types of data relevant to business operations, and critically evaluate appropriate data sources.
• Create and interpret frequency distributions, charts, and graphs, providing meaningful insights into business data.
• Apply measures of central tendency to analyze and summarize business-related data sets, facilitating effective decision-making in various business contexts.
• Utilize measures of dispersion, skewness, and standard deviation to assess variability and risk in business data, contributing to more informed and strategic business decisions.

The academic approach of the course focuses on ‘work-centric’ education. With this hands-on approach, derive knowledge from and while working to make it more wholesome, delightful and useful. The ultimate objective is to empower learners to also engage in socially useful and productive work. It aims at bringing learners closer to their rewarding careers as well as to the development of the community.

• Step 1: Learners are given an overview of the course and its connection to life and work
• Step 2: Learners are exposed to the specific tool(s) used in the course through the various real-life applications of the tool(s).
• Step 3: Learners are acquainted with the careers and the hierarchy of roles they can perform at workplaces after attaining increasing levels of mastery over the tool(s).
• Step 4: Learners are acquainted with the architecture of the tool or tool map so as to appreciate various parts of the tool, their functions, utility and inter-relations.
• Step 5: Learners are exposed to simple application development methodology by using the tool at the beginner’s level.
• Step 6: Learners perform the differential skills related to the use of the tool to improve the given ready-made industry-standard outputs.
• Step 7: Learners are engaged in appreciation of real-life case studies developed by the experts.
• Step 8: Learners are encouraged to proceed from appreciation to imitation of the experts.
• Step 9: After the imitation experience, they are required to improve the expert’s outputs so that they proceed from mere imitation to emulation.
• Step 10: Emulation is taken a level further from working with differential skills towards the visualization and creation of a complete output according to the requirements provided. (Long Assignments)
• Step 11: Understanding the requirements, communicating one’s own thoughts and presenting are important skills required in facing an interview for securing a work order/job. For instilling these skills, learners are presented with various subject-specific technical as well as HR-oriented questions and encouraged to answer them.
• Step 12: Finally, they develop the integral skills involving optimal methods and best practices to produce useful outputs right from scratch, publish them in their ePortfolio and thereby proceed from emulation to self-expression, from self-expression to self-confidence and from self-confidence to self-reliance and self-esteem!