Business Mathematics & Statistics

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Business Mathematics forms an important branch of mathematics in today’s world and involves direct application of mathematics to business and economics. Statistics is a branch of applied mathematics and is equally useful in business and economics as it provides the quantitative basis for arriving at decisions in numerous matters. The importance of statistics is increasing day by day and it has come to play an important role in almost every field in the modern era. Both these disciplines being part of mathematics, they enhance pupil’s reasoning power, problem solving skills, and their general ability to think. The book has been written keeping in mind the requirements of B.Com. students whose courses have undergone tremendous changes in the recent past. The new syllabus has greatly increased the course content of Business mathematics as well as Statistics and has made this paper very challenging. Moreover, there was no one combined book earlier which could cover both the subjects comprehensively. It was no meet this challenge that we decided to undertake this endeavour. This is an outcome of the lectures delivered by us during the past fifteen years to the students of commerce and management at different levels. It is intended to impart knowledge about the conceptual aspects as distinguished from the mere procedural ones. Through this book a sincere attempt has been made to integrate both these aspects in the possible manner It has got two divisions. Division One is Devoted to Business Mathematics which contains eight chapters comprising of matrices, differentiation, integration, functions and their applications. Division Two is devoted to Statistics which contains seven Chapters comprising of measures of central tendency, dispersion, correlation, regression, index numbers and time series. We have included suitably graded comprehensive illustrations starting from the easy to moderately difficult to complicated ones. comprehensive step-by-step explanations are given for easier understanding of all the topics.Unsolved problems with their answers are also given in form of exercises. In addition, questions asked in university examinations are duly incorporated with their complete solutions at appropriate places. This book would never have been written but for the support, encouragement and cooperation of our family members.We take this opportunity to thank them for the same. We are also thankful to all our colleagues and friends for their best wishes for our present endeavour.We would also like to gratefully acknowledge the assistance and support given by the entire staff of the Taxmann Allied Services Pvt. Ltd. during the production of this edition.