Basic Business Math

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Basic Business Math

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rg *** About the Structure and Flow of our Presentations ***

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• Basic Business Math

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• The information gathered here is under KeyPoints format and may be use:• - Either to give the reader an overview before deciding for a full scale study of the

topic.• - Or act as a study guide for learners in expanding their knowledge on that given topic.

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rgBasic Business Math – Summary.

☺ To answer questions of business math, you will review crucial terms, basic mathematical concepts, and how to apply concepts to the business environment.

☺ A basic understanding of decimals and percentages is key to any businessperson, whether tallying costs for warehouse supplies or estimating resource allocation.

☺ Therefore learn to use decimals, addition, subtraction, multiplication, and division; and to solve problems involving percentages.

☺ Also, knowledge of ratios and averages is indispensable in the business world.

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rgBasic Business Math - Aim of publication.

To bring some introductory concepts to the reader or the learner who are interested apply basic math skills to business.

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rgBasic Business Math - Learning Objectives.

☺ After developing the KeyPoints outlined in this publication, you should mainly be able to:

recognize the value of using and rounding whole numbers to estimate in business applications.

choose the necessary operation to solve a problem using fractions.

convert a business problem into an equation.

solve a problem in a hypothetical business situation.

calculate base, given portion and rate.

express ratios as decimal numbers and percentages.

determine the correct ratio and convert it to percentage.

solve a problem determining a simple average.

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rgBasic Business Math - Sections List.

(Section 1) Whole Numbers, Fractions, and Equations.

(Section 2) Decimals and Percents.

(Section 3) Ratios and Averages.

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rg(Section 1) Whole Numbers, Fractions, and Equations – Summary.

☺ What are whole numbers and how are they estimated?

☺ How are fractions used in mathematical operations?

☺ How do you find the unknown variable to solve an equation?

☺ To answer such questions of business math like these, you will review crucial terms, basic mathematical concepts, and apply concepts to a business environment.

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rg(Section 1) Whole Numbers, Fractions, and Equations – HighPoints.

Using Whole Numbers to Estimate.

Using Fractions.

Solving Equations.

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rg(Section 1) HighPoints: Using Whole Numbers to Estimate.

☺ recognize the value of using and rounding whole numbers to estimate in business applications.

☺ match whole numbers, fractions, and mixed numbers to examples.

☺ round numbers to specified place values.

☺ round whole numbers to a given place value and use those numbers to make an estimate in a business environment.

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rg(Section 1) HighPoints: Using Fractions.

☺ know the benefits of using fractions in the workplace.

☺ convert the improper fractions to mixed numbers.

☺ solve an addition or subtraction problem using fractions.

☺ multiply fractions.

☺ solve a multiplication problem using fractions.

☺ divide fractions.

☺ solve a division problem using fractions.

☺ choose the necessary operation to solve a problem using fractions, and solve the problem in a workplace situation.

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rg(Section 1) HighPoints: Solving Equations.

☺ recognize the benefits of knowing how to solve equations in the workplace environment.

☺ convert a business problem into an equation.

☺ convert a problem into an equation and solve that equation.

☺ sequence the rules of order of operations.

☺ apply the order of operations to solve an equation in a hypothetical workplace case.

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rg(Section 2) Decimals and Percents – Summary.

☺ A basic understanding of decimals and percentages is key to a businessperson, whether tallying costs for warehouse supplies or estimating resource allocation.

☺ The KeyPoints that follow are to instruct the learner in the following manner:

how to use decimals, including addition, subtraction, multiplication, and division;

how to solve problems involving percentages to determine portions, a rate, a whole unit, and increases and decreases;

how to apply these operations in business settings.

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rg(Section 2) Decimals and Percents – HighPoints.

Using Decimals.

Using Percents.

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rg(Section 2) HighPoints: Using Decimals.

☺ recognize the importance of understanding decimals in the workplace.

☺ match various digits in a decimal number with their appropriate place values.

☺ add and subtract decimals.

☺ add or subtract decimals to solve a problem in a hypothetical business situation.

☺ multiply decimals.

☺ multiply decimals to solve a problem in a business environment.

☺ divide decimals.

☺ divide decimals to solve a problem in a hypothetical business situation.

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rg(Section 2) HighPoints: Using Percents.

☺ value the benefit of knowing how to work with percents.

☺ compare partial quantities of a whole unit using simple percentages.

☺ calculate portion, given rate and base.

☺ calculate portion in a hypothetical business situation.

☺ calculate rate, given portion and base.

☺ calculate the percent of one number compared to another in a business situation.

☺ calculate base, given por tion and rate.

☺ calculate the base in a hypothetical business scenario, given portion and rate.

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rg(Section 3) Ratios and Averages – Summary.

☺ Whether tracking profitability or portraying the rate of inventory consumption, knowledge of ratios and averages is indispensable in the business world.

☺ Using real cases scenarios, learn to explain the concepts of ratio, proportion;

☺ And also how to compare different kinds of numbers; and discusses simple, weighted, and moving averages.

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rg(Section 3) Ratios and Averages – HighPoints

Using Ratios.

Using Averages.

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rg(Section 3) HighPoints: Using Ratios.

☺ recognize the benefits of using ratios in the workplace.

☺ reduce ratios to their simplest forms.

☺ express ratios as decimal numbers and percentages.

☺ determine the correct ratio and convert it to a decimal or percentage.

☺ solve for the missing variable in a pure math problem.

☺ solve for an unknown quantity in two business scenarios given an equality between two ratios.

☺ solve rate problems using the appropriate method.

☺ solve for the missing variable in rate problems, given hypothetical business situations..

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rg(Section 3) HighPoints: Using Averages.

☺ recognize the value of using averages in the workplace.

☺ solve a problem determining a simple average.

☺ determine a weighted average in a pure math problem.

☺ solve a problem to determine a weighted average in a hypothetical case.

☺ calculate a moving average in a pure math problem.

☺ solve a problem to determine a continuing simple moving average.

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rgBasic Business Math – Conclusion.

☺ At this point you should be able to be familiar with the following:

rounding numbers to specified place values.

using fractions in the workplace.

solving equations in a workplace environment.

understanding decimals in the workplace.

knowing how to work with percents.

calculating portion, given rate and base.

missing variable in a pure math problem.

using ratios in the workplace.

determining a simple average.

moving average in a pure math problem.

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