Unit 1 - functions - Differentiation - Integration - Variables - Constants - Mathematical models

1. By
Mr. Victorseelan D., MSc.,MPhil(Statistics)
Dept of Mathematics
Nehru College of Management
Coimbatore
Quantitative Methods For Management

2. Quantitative Methods For
Management
SYLLABUS
UNIT I
Linear, Non-Linear functions – graphical representation of functions, Constants,
Variables – notion of Mathematical models – concept of trade off – notion of
constants – concept of Interest. Basic Concept of differentiation – integration –
Optimization concepts – use of differentiation for optimization of business problem-
Optimization.
UNIT II
Data Analysis – Uni-Variate – ungrouped and grouped data measures of central
Tendencies, measures of dispersion – C V percentages (problem related to business
applications). Bivariate – correlation and regression – problems related to business
applications.
UNIT III
Probability – definitions – addition and multiplication Rules (only statements) –
simple business application problems – probability distribution – expected value
concept – theoretical probability distributions – Binomial, Poison and Normal –
Simple problems applied to business

3. Quantitative Methods For
Management
SYLLABUS
UNIT IV
Basic concept of index numbers – simple and weighted index numbers – concept of
weights - types of index numbers – Business index number – CPT, WPI, Sensex, Niffy,
Production Index, Time series – variations in Time Series for business forecasting.
UNIT V
Hypothesis testing of Proportion and Mean – single and two tailed tests – errors in
Hypothesis Testing – Measuring the power of Hypothesis test. Chi-Square Tests
References :
1. Statistics for Management – Richard L Levin & Daid S Rubin
2. Statistical Methods – S P Gupta
3. Statistics for Business and Economics – R P Hoods – MacMillan India Limited
4. David M.Levine, Timothy C.Krehbiel and Mark L.Berenson “Business Statistics: A
First Course” , Pearson Education Asia
5. Amir D. Aczel, Complete Business Statistics, 5th edition, Irwin McGraw-Hill.
Questions : 80% of the questions shall be problems 20% of the questions shall be
theory based.

4. UNIT – 1 Review
Linear, Non-Linear functions:
 Graphical representation of functions, Constants, Variables –
 Notion of Mathematical models –
Concept of trade off – notion of constants –
concept of Interest.
Basic Concept of differentiation – integration –
Optimization concepts – use of differentiation for optimization of business problem-
Optimization.

5. Constants and Variables
Constants and Variables are the two types of symbols in algebra.
Constant:
A symbol which has a fixed numerical value is called a
constant.
For example:
2, 5, 0, -3, -7, 2/7, 7/9 etc., are constants.
Number of days in a week represents a constant.
In the expression 5x + 7, the constant term is 7.

6. Constants and Variables
Variables:
A quantity which has no fixed value but takes no
various numerical values is called a variable.
For example:
Temperature at different times of a day represents a
variable.
The height of a student in your grade is a variable, as
it varies from student to student. A variable is
denoted by a letter like x, y, z, u, v etc.

7. Examples
Examples on Constants and Variables:
(i) In 2a, 2 is a constant and a is a variable.
(ii) In -7mn, -7 is a constant and m and n are variables.
(iii) In 3x, 3 is constant and x is variable but together
3x is a variable.
(iv) If 3 is a constant and x is a variable,
then 3 + x, 3 - x, 3/x, 3x, x/3, etc.,
are also variables.
So, we conclude that the combination of a constant
and a variable is always a variable.

8. Trade-off functions
Trade-off functions express how much of one objective has
to be sacrificed to increase the value of another objective
by one unit.

9. Functions

16. Linear Functions
An equation whose graph is a straight line is
called a linear function. A linear function has an
equation that can be written in the form of

17. Nonlinear Functions -Quadratic function
Equations whose graphs are not straight lines are
called nonlinear functions. Some nonlinear
functions have specific names.
A quadratic function is nonlinear and has an
equation in the form of

18. Nonlinear Functions - Cubic function
Another nonlinear function is a cubic function. A
cubic function has an equation in the form of

21. Mathematical Models

35. Concepts of Simple
and Compound
Interest

47. Simple Interest - Example

48. Compound Interest - Example

49. Basic Concept of
Differentiation and
Integration

68. Chain Rule

70. INTEGRATION

86. Previous Year Questions (Theory)
Distinguish between Constant and Variable of a Mathematical Model with a suitable
Example?
Define Linear and Non Linear functions with Example
Differentiate Integration and Differentiation?