Computation for Business

Upon successful completion of this unit, learners will be able to:

1. Make and apply calculations relevant to business;
2. Demonstrate how mathematics can be applied to the solution of business problems;
3. Apply statistical methods to provide business information;
4. Identify and apply the laws of probability to find solutions to business problems.

Be able to make and apply calculations relevant to business:

• Compare numbers using ratios
• Obtain values for transactions involving purchases, discounts, taxation and wages
• Determine values for simple interest, compound interest and depreciation
• Convert foreign currency
• Compute unweighted and weighted index numbers and understand their applications

Demonstrate how mathematics can be applied to the solution of business problems:

• Construct decision trees and show how they can be used as an aid to decision making
• Explain and calculate expected monetary values
• Apply breakeven analysis to determine the output decisions of firms and analyse the effects of changes in cost and revenue functions
• Use algebraic and graphical representations of demand and supply functions to determine the equilibrium price and quantity in a competitive market
• Analyse the effects of changes in the market

Be able to apply statistical methods to provide business information:

• Distinguish between qualitative and quantitative data
• Distinguish between continuous and discrete data
• Represent and interpret data using histograms, stem and leaf diagram and cumulative frequency curves
• Determine summary statistics, measures of location and dispersion (mean, median, mode, range, interquartile range and standard deviation)

Identify and apply the laws of probability to find solutions to business problems:

• Recognise outcomes which are equally likely, not equally likely or subjective
• Use formulae to determine probabilities for complementary, mutually exclusive, independent and conditional events
• Determine probabilities using a two-way table and a tree diagram

• Diploma in Applied Business Studies

  Secure your foundation for a degree and career in Business, Human Resource Management and Marketing.

  The Diploma in Applied Business Studies, awarded by SBCS Global Learning Institute Ltd, is a Pearson (UK) and ACTT approved programme, designed for CSEC / CXC graduates as an alternative to CAPE or 6th Form. It provides such learners with the opportunity to pursue a higher level qualification in a Business discipline, by enabling a seamless transfer from Secondary to Post-secondary education.

  Graduates of this Diploma programme will progress directly to the ABE Level 5 Diploma in Business Management and then onto the final year of an undergraduate degree; BA (Hons) Business Management, BA (Hons) Business and Marketing, or BA (Hons) Business and HRM from the University of Sunderland.

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  Click here to see our full suite of Foundation programmes, or here for our 2020 academic schedules.

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  Related Courses:

  • Short Business Courses
  • Short Information Technology Courses
  • ABE Level 4 Foundation Diploma in Business Management
  • ABE Level 5 Diploma in Business Management
  • BA (Hons) Business Management
  • BA (Hons) Business and Marketing
  • BA (Hons) Business and HRM
  • Master of Business Administration
  • Doctor of Business Administration

• This unit aims to provide students with a thorough foundation in basic Mathematics and Statistical Techniques necessary in Business and Management Studies.