syllabus

PAPER-III MATHEMATICS & STATISTICS FOR MANAGEMENT
Unit 1. Functions: Meaning of functions, to find f (x) if x is known,
functions used in business and economics, demand functions, supply
function, cost function, revenue function, profit function, Newton’s divided
difference formula for unequal interval to determine the form of a function,
Limits & Derivatives: Meaning of limits, meaning of Derivatives, Working
rules of derivatives, application of derivatives to business & economics –
marginal cost, marginal revenue, maximisation & minimisation using second
order derivative. (15 hours)
Unit 2. Determinants - Meaning of determinants ,Evaluation of second &
third order determinants , Cramers rule. Matrices –Meaning of matrix, order
of matrix, addition of subtraction & multiplication of matrices, unit matrix,
transpose of matrix, equality of two matrices, adjoint of matrix, universe of
matrix, scaler multiplication of a matrix, Application of matrices in business.
(15 hours)
Unit 3. Variable: Variable, constant, random variable discrete & continuous
random variable, Mathematics of finance-interest calculation, annuity,
present value annuity, present value concept in investment. Meaning of
Central Tendency-Concept of Mean, Median & Mode, problems only on
Mean, Measure of Dispersion-range, mean deviation, quartile deviation
Standard deviation & Variance. (15 hours)
Unit 4. Correlation - Definition of correlation, Types of correlation Karl
Pearson’s correlation coefficient & its interpretation (continuous data be
omitted). Regression: Meaning of regression, least square method, linear &
non –linear regression, explained & unexplained variations.
(15 hours)
Note : Use of Calculator is allowed.
Examples based on Trigonometry to be avoided.
Reference Books :
1) Business mathematics with applications: S. R. Arora . & Dinesh Khatter .
2) Fundamentals in Statistics : S.C. Gupta
3) Statistics for Management: Richard I. Levin & David S. Rubin .
4) Business Mathematics: Q. Zamiruddin & V.K. Khanna . S. k. Bhambri.
5) Business Statistics: S.J. Gupta & Indra Gupta