Institute of Commercial Management | Qualification Subject

Numeracy & Statistics

Main Topics of Study

Revision of Basic Mathematical Techniques

  • Integers, fractions and decimals
  • Order of operations – brackets
  • Percentages and ratios – percentages, profits, proportions and ratios
  • Roots and powers – powers, roots, rules for powers

Equations and Graphs

  • Formulae and equations – manipulating equalities, linear equations
  • Graphs – linear equations and graphs, simultaneous equations, non-linear equations

Data Presentation and Measurements of Location and Dispersion

  • Data – data and information, quantitative and qualitative data, primary and secondary data, discrete and continuous data
  • Data presentation – pictograms, tables, charts (bar charts, pie charts), frequency distributions, histograms, frequency polygons, ogives, scatter diagrams
  • Averages – the arithmetic mean, the mode, the median
  • Dispersion – the range quartiles and the semi-interquartile range

Probability

  • The concept and rules of probability
  • Expected values
  • Expectation and decision-making

Frequency Distributions, the Normal Curve and Sampling

  • Probability distributions
  • The normal distribution
  • The standard normal distribution

Financial Mathematics

  • Interest – simple interest, compound interest, inflation, changes in the rate of interest
  • Savings and loans – regular savings, sinking funds, loans, mortgages

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

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Business Essentials – Business Maths: Study Text (2013), BPP Learning Media

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