BUSINESS CALCULATIONS AND STATISTICS KNEC SYLLABUS
9.1.1 Introduction
This module unit is intended to equip the trainee with knowledge, skills and attitudes that will enable him/her use business calculations and statistical techniques in making simple business decisions in day to day operations.
9.1.2 GENERAL OBJECTIVES
By the end of this module unit, the trainee should be able to:
- a) Appreciate use of business calculations and statistical techniques in business
- b) Understand various business computations leading to decisions
- c) Acquire necessary background for further mathematical treatment
- d) Appreciate the emerging trends and issues in statistical techniques
Module Unit Summary and Time Allocation
| Code | Sub-module Units | Contents | Time (Hrs) |
| 9.1.01 | Basic arithmetic operations | · arithmetic operations | 4 |
| 9.1.02 | Linear equations | · simple linear equations
· Process of solving business problems using linear equations |
6 |
| 9.1.03 | Ratios, rates, percentages, mixtures, proportions and allegations. | · rates · comparison of quantities using ratios · fractions, decimals and percentages · problems involving mixtures · differentiating direct and inverse proportions · allegations |
8 |
| 9.1.04 | Discounts and commissions | · types of discounts and commissions | 4 |
| 9.1.05 | Income tax and insurance | · meaning of income tax
· methods of computing income tax · meaning of insurance · methods of computing insurance |
4 |
| 9.1.06 | Profit and loss | · distinction between profit and loss
· distinction between margins and mark-ups · Turnover |
4 |
| 9.1.07 | Hire purchase | · meaning of hire purchase
· difference between hire purchase and cash price · procedure of solving problems involving hire purchase |
4 |
| 9.1.08 | Currency conversion | · definition of currency · different currency rates · currency conversion methods |
4 |
| 9.1.09 | Series and sequence | · definition of series and sequence
· uses of series and sequence solving problems |
8 |
| 9.1.10 | Index numbers | · basic concepts
· uses of index numbers · types of index numbers · limitations of index numbers |
6 |
| 9.1.11 | Business calculus | · basic concepts
· differentiation · integration · Application of calculus in business |
8 |
| 9.1.12 | Introduction to statistics | · meaning of the term statistics
· purpose of statistics · uses of statistics · limitations of statistics |
4 |
| 9.1.13 | Collection of data | · types of data
· methods of data collection · sampling methods |
4 |
| 9.1.14 | Classification of data | · meaning of classification of data
· frequency distribution table · tabulation of data |
4 |
| 9.1.15 | Presentation of data | · Methods of presenting data | 4 |
| 9.1.16 | Measures of central tendency | · meaning of central tendency
· types of central tendency · characteristics of central tendency · advantages and disadvantages |
8 |
| 9.1.17 | Measures of dispersion | · meaning of measures of dispersion
· types of measures of dispersion · characteristics of measures of of dispersion · advantages and disadvantages of measures of dispersion |
10 |
| 9.1.18 | Regression and correlation | · basic concepts
· regression analysis · correlation · Pearson product moment · spearman’s coefficient of rank correlation |
8 |
| 9.1.19 | Probability | · basic concepts
· rules of probability · types of events · decision trees · standard normal distribution |
8 |
| 9.1.20 | Financial mathematics | · simple and compound interest
· depreciation · annuities |
2 |
| 9.1.21 | Emerging trends and issues in business calculations | · emerging trends and issues in business calculations and statistics
· challenges posed by emerging trends and issues · coping with challenges posed by emerging trends and issues |
4 |
| TOTAL | 120 | ||
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1.Entreprenuership
2.Business calculations & statistics
3.Business Law
4.Management Accounting
5.Supply Chain Management & purchasing principles
6.Commerce
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