Topic 1

+
MIS770:
Analytical Skills for Managers
Module 1, Topic 1
Module 1, Topic 1
Module 1 Business Performance Metrics and Data Presentation
Topic 1 covers:
a.
b.
c.
Foundation Mathematics
Percentages
Ratios and Proportions
Deakin University CRICOS Provider Code: 00113B
3
9 Time Series
and Trend
Analysis
10 Index
Numbers
Topics
1a Foundation
Maths
1b Percentages
1c Rates and
Proportions
Module 1
8a Correlation
8b Regression
Analysis
Business Performance Metrics and

Data Presentation
Module 2
Descriptive Measures, Probability
Theory and Inferences
2a Simple
Interest
2b Compound
Interest
2c Annuities
2d Depreciation
Module 3
Trend Analysis and Application
7a Hypothesis
Testing
6a Normal
Distribution
6b Confidence
Intervals
5a Sampling
5b Elementary
Probability
4a Measures of
Central Tendency
4b Measures of
Variation
3a Graphing
3b Intro to Stats
3c Visual
Presentation of
Data
3d Analysis of
Frequency Data
+
a. Foundation
Mathematics
Objectives
At the completion of this section you
should be able to undertake
calculations involving:
whole numbers
fractions
decimals
exponents
scientific notation
1.1 Whole numbers

The decimal system consists of
Numerals
Symbols, i.e. 0, 1, 2, 3 are numerals
Represent natural numbers or whole numbers

Used to count whole objects or fractions of them
Integers
Another name for whole numbers
positive integers (greater than zero)
negative integers (less than zero)
Basic Mathematical Operations

There
are four basic mathematical operations that can be

performed on numbers:
Multiplication: represented by
Division: represented by either
Addition: represented by
Subtraction: represented by
or
or
Rules for Mathematical Operations

Order of operations
Multiplication and Division BEFORE Addition and Subtraction
However, to avoid any ambiguity, we can use parentheses (or brackets),
which take precedence over all four basic operations
For example 5 + 4 9 can be written as 5 + (4 9) to remove this
ambiguity
As another example, if we wish to add numerals before multiplying, we
can use the parentheses as follows:
( 4 9) 3 13 3
39

(cont)
Multiplication
There are several ways of indicating that two numbers are to be
multiplied
4 6 or 6 4
e.g. 4 multiplied by 6 can be expressed as 4 * 6 or 6 * 4
46
(4)(6)
4(6) or (4)6
Multiplying the same signs gives a positive result

5 6 30
Multiplying different signs gives a negative result

5 4 20

(cont)
Division
There are several ways of indicating that two numbers are to be divided
6
e.g. 6 3, 6 / 3,
3
The number to be divided (6) is called the numerator or dividend
The number that is to be divided by (3) is called the denominator or
divisor
The answer to the division is called the quotient
Dividing the same signs gives a positive result 6 2
3
Dividing different signs gives a negative result 3 1

6

(cont)
Addition
Addition does have symmetry
E.g. 5 6 6 5
like signsuse the sign and add

unlike signsuse sign of greater and subtract
Subtraction
Two signs next to each other
minus and a minus is a plus ( 3) = 3
minus and a plus is a minus (+3) = 3
10
11
1.2 Fractions
A fraction can be either proper or improper:
Proper fractionnumerator less than denominator
e.g. 6 , 23 , 156
9
52
238
Improper fractionnumerator greater than denominator

3 56 856
,
,
2 32 249
The number on top of the fraction is called the numerator and

the bottom number is called the denominator
The denominator cannot be zero, because if it is, the
result is undefined
+ Addition and Subtraction of
Fractions
Same denominators
Step 1: Add or subtract the numerators to obtain the new numerator
Step 2: The denominator remains the same
Different denominators
Step 1: Change denominators to lowest common multiple (LCM)
1 2 5

3 9 6
6 4 15
18
25
18
7
18
(LCM is the smallest number into which all denominators will divide)
Step 2: Add or subtract the numerators to obtain the new

numerator
12
+ Multiplication and Division of
Fractions
Multiplication
Step 1: Multiply numerators to get new numerator
Step 2: Multiply denominators to get new denominator
Step 3: Use any common factors to divide the numerator and
denominator, to simplify the answer
Division
Step 1: Invert the second fraction
Step 2: Multiply it by the first fraction
13
14
1.3 Decimals
Any fractions can be expressed as a decimal by dividing the
numerator by the denominator
A decimal consists of three components:
an integer
then a decimal point
then another integer
e.g. 0.3, 1.2, 5.69, 45.687
Any zeros on the right-hand end after the decimal point

and after the last digit do not change the numbers value
e.g. 0.5, 0.50, 0.500 and 0.5000 all represent the same number
15
Rules for Decimals

Addition and subtraction
Align the numbers so that the decimal points are directly underneath
each other
Example of an addition Question : Add 2.3 0.34 1.672
Step 1: align
Step 2: add
2.3
0.34
1.672
4.312
16
Rules for Decimals (cont)

Multiplication
Step 1: Count the number of digits to the right of each decimal point
for each number
Step 2: Add the number of digits in Step 1 to obtain a number, say x
Step 3: Multiply the two original decimals, ignoring decimal points
Step 4: Mark the decimal point in the answer to Step 3 so that there
are x digits to the right of the decimal point
17
Rules for Decimals (cont)

Division
Step 1: Count the number of digits that are in the divisor to the right of
the decimal point. Call this number x
Step 2: Move the decimal point in the dividend x places to the right
(adding zeros as necessary). Do the same to the divisor
Step 3: Divide the transformed dividend (Step 2) by the transformed
divisor (which now has no decimal point)
The quotient of this division is the answer
18
1.4 Exponents
An exponent or power of a number is written as a
superscript to a number called the base
The base number is said to be in exponential form
This tells us how many times the based is multiplied by
itself
e.g. 23 2 2 2 8
Exponential forman
where a is the base
where n is the exponent or power
19
Rules for Exponents

Positive exponents
If numbers with same base, an and am, then product will have the same
base. The exponent will be the sum of the two original exponents
a n a m a nm
For the quotient, if the two numbers have the same base, the exponent
will be the difference between the original exponents
a m a n a mn
A number in exponential form is raised to another exponent; the result is

the original base raised to the product of the exponents
n m
a nm
20
Rules for Exponents (cont)

Negative exponents
A number expressed with a negative exponent is equal to the reciprocal of
the same number with the negative sign removed
1
n
a
21

Fractional exponents
Exponents can be expressed as a fraction
n is of the form
1
k
(where k is an integer)
1
k
a is said to be the kth root of a. The kth root of a number is one

such that when it is multiplied by itself k times, you get that number
1
k
a k a
m
n
a a
n
1
m n
22

Zero exponent
Any base raised to the power of 0 equals 1
a0 1
Except for 0 0 , which is undefined
23
1.5 Scientific Notation

Scientific notation is a shorthand way of writing very large and very small
numbers
It expresses the number as a numeral (less than 10) multiplied by the base
number 10 raised to an exponent
The rule for writing a number N in scientific notation is:
where:
N N ' 10 c
N = the digit before the reference position, followed by the decimal

point and the remaining digits in number N
c = the number of digits between the reference position
and the
decimal point
24
1.5 Scientific Notation (cont)

When c is positive
If the decimal point is to the right of the reference position, the
value of c is positive
6
e.g. 6325479.3 in scientific notation = 6.3254793 10
When c is negative
If the decimal point is to the left of the reference position, the value
of c is negative
4
e.g. 0.0005849 in scientific notation = 5.849 10
25
Types of data
Data can be classified as being categorical or numerical
The statistical analysis that is appropriate depends on the type
of data
In general, there are more alternatives for statistical analysis
when the data are numerical
26
Types of data: Categorical

Labels or names used to identify an attribute of each entity
Often referred to as qualitative data
Can be recorded in either numeric or nonnumeric format
Appropriate statistical analyses are rather limited
Usually counted or expressed as a proportion or a percentage
27
Types of data: Numerical

Numerical data indicate how many or how much:
Discrete: if measuring how many
Continuous: if measuring how much
Often referred to as quantitative data

Ordinary arithmetic operations are meaningful for quantitative
data
28
Types of data: Numerical (cont)

Numerical data can be converted to categorical data
eg. Salary can be converted into Low, Middle and High
but cannot covert High Salary back into a specific salary figure
A common mistake is to treat data collected using a

rating/ranking (eg. Likert) scale as numerical data (this can only
be justified in certain circumstances)
29
Scales of measurement
Scales of measurement include:
Nominal
Interval
Ordinal
Ratio
The scale determines the amount of information contained in

the data
The scale indicates the data summarization and statistical
analyses that are most appropriate
30
Nominal
Data are labels or names used to identify an attribute of the
entity
A nonnumeric label or numeric code may be used
e.g. Customers can be classified by their geographical location (New South
Wales, Victoria, Western Australia, South Australia, Tasmania, ACT and NT)
31
Ordinal
The data have the properties of nominal data and the
categories have a meaningful rank
A nonnumeric label or numeric code may be used.
e.g. Rating customer service as Poor, Average, Good, Very Good or
Excellent
Ordinal data have no fixed unit of measurement. Thus cannot

make meaning statements about the difference between
categories
e.g. Cannot say that the difference between Excellent and very Good
is the same as between Good and Average
32
Interval
The data have the properties of ordinal data, and the interval
between observations is expressed in terms of a fixed unit of
measure
Interval data are always numeric and have no true Zero
e.g. Both Fahrenheit and Celsius scales represent specific measure of
distance degrees of temperature but have no true zero
Thus cannot make meaningful ratios

e.g. We cannot say that 50 degrees is twice as hot as 25 degrees
33
Ratio
The data have all the properties of interval data and the ratio of
two values is meaningful
This scale must contain a zero value that indicates that nothing
exists for the variable at the zero point
e.g.
Years
Salary Employed
$ 43,000
2
$ 72,000
3.5
$ 48,500
12
34
Scales of measurement - Summary

Differences between
measurements, true
zero exists
Ratio Data
Differences between
measurements but
no true zero
Interval Data
Ordered categories
(rankings, order or
scaling)
Ordinal Data
Categories (no
ordering or
direction)
Nominal Data
Highest Level
(Strongest form of
measurement)
Lowest Level
(Weakest form of
measurement)
35
Scales of measurement - Summary

Examples
Ratio Data
Height, age, monthly

sales, delivery times
Numerical Data
Interval Data
Temperature in degrees
Celsius, standardised
exam score
Ordinal Data
Service quality rating,

student letter grades
Categorical Data
Nominal Data
Marital status,
customers
location, suppliers name
36
Foundation Mathematics Summary

A thorough knowledge of fractions, decimals and exponents is
essential for an understanding of basic mathematical principles
You should not be too reliant on modern technology to solve
every problem
You are far better prepared if you are also aware of the
processes that the calculator is undertaking when performing
calculations
b. Percentages
Objectives
should be able to:
understand and use percentages
apply percentages to common
commercial situations
calculate commission (including
brokerage)
calculate discounts (including chain,
trade and cash discounts)
calculate tax (including GST, personal
tax, company tax, FBT and land tax)
calculate profit and loss
calculate stamp duty
+ 2.1 Conversion to and from
percentages
Conversion of a fraction to a percentage
Multiply by 100 and use % sign
5
e.g.
Express as a percentage
8
5
100 62.5%
8
Conversion of a decimal to a percentage

Multiply by 100 by moving the decimal point 2 places to the right and
then add a % sign
Express 0.269 as a percentage
e.g.
0.269 100 26.9%
38
+ 2.1 Conversion to and from
percentages
39
(cont)
Conversion of a percentage to a fraction

Divide by 100 and remove % sign, then simplify
Express 72% as a fraction
e.g.
72
18
100 25
Conversion of a percentage to a decimal

Divide the percentage by 100 by moving the decimal point 2 places to the
left, and then remove the % sign
Express 45.3% as a decimal
e.g.
45.3 100 0.453
40
2.2 Commission
An agent is paid a commission when he or she sells goods and
services
Commission can be paid by looking at either a
fixed amount (irrespective of sales)
C F S R
straight commission with no fixed amount
CSR
where:
S = sale amount
R = rate of commission per sale
F = fixed amount paid (irrespective of sales)
C = commission earned
41
2.2 Commission (cont)

Brokerage
Brokerage is commission paid to a stockbroker who acts on a clients
behalf
Brokerage rates vary according to the type of transaction, but general
rules that apply are:
when selling, brokerage is subtracted from the proceeds of the sale
when buying, brokerage is added to the amount that you must pay for
the stock or shares
42
2.3 Discounts
Discount is an inducement for the customer to make a purchase
For example:
two for the price of one
an advertised special with an expiry date
a fixed amount off the price
a reduction in the unit price if large quantities are purchased
On some occasions there may be more than one discount on an

item. These multiple discounts are called chain discounts
A reduction in price is referred to as a discount and is often
expressed in the form of a percentage
43
2.3 Discounts (cont)

A reduction in price is referred to as a discount and is often
expressed in the form of a percentage
to calculate the amount of discount
where:
L = list price
D = amount of discount
R = rate of discount
DP = discount price
the rate of discount is:
the amount of discount is:
the discount price (or net price) is:
D
L
D R L
DP L D
44

Trade discount
A special discount when goods and services are purchased from one
business by another business
a builder purchasing timber from a timber yard
a service station obtaining tyres from a manufacturer
an electrician purchasing cables and switches from an electrical supplier
A typical trade discount would range between 10% and 25%, depending
on the trade and the item
The method for calculating trade discounts is the same as in the previous
examples
45

Cash discount
A form of discount that is given if the purchaser pays in cash or by cheque
The percentage of the discount may depend on how quickly the bill is paid
For example, a supplier of electrical goods informs retailers that the
following discounts are available for early payment of purchases:
Within 7 days 10.0 %
46
2.4 Goods and Services Tax (GST)

An Australian broad-based tax of 10% on most supplies of
goods and services
The GST replaced a number of other taxes, including wholesale
sales tax, that were applied at varying rates to a range of
products
The amount of GST payable can be calculated easily by working
out 10% of the cost of the goods or service
To work out how much a customer has paid in GST, divide the
final price by 11
GST inclusive
price 11 GST
47
2.5 Personal income tax

Individuals who receive income are liable for personal
income tax
Definitions
Gross income is the total amount received or accrued
Assessable income is gross income less exempt income
Allowable deductions are costs of producing income and certain
concessional deductions
Taxable income is assessable income less allowable deductions
Tax payable is tax according to the table on taxable income less
rebates
48
2.5 Personal income tax (cont)

The tax-free threshold for most resident individuals is $18,200
Taxpayers are subject to a Medicare levy, normally calculated at
the rate of 1.5% of your taxable income
49
2.6 Company tax

A company is a distinct legal entity with its own income tax
liability that is separate from personal income tax
The income tax of companies is calculated on taxable income,
which is the income earned by the company less any allowable
deductions
The amount of tax to be paid is reduced by any PAYG (pay as
you go) installments paid during the year
The general rate of tax payable by companies on 201314
income is 30%
50
2.7 Fringe Benefits Tax (FBT)

FBT is an Australian government tax paid on certain benefits
employers provide to their employees in place of, or in addition
to, salary
FBT is separate from income tax
FBT is payable by the employer and is based on the taxable
value of the various fringe benefits provided
The rate of FBT is currently aligned with the top marginal
income tax rate and was set at 46.5% in 201213
51
2.8 Land tax

Land tax is a state tax levied on the owners of land in various
states of Australia
A principal place of residence (your home) or land used for
primary production (a farm) is exempt from land tax
You may be liable for land tax if you own or part-own:
vacant land, including vacant rural land
a holiday home
investment properties
company title units
residential, commercial or industrial units
52
2.8 Land tax (cont)

Land tax is calculated on the combined value of all the taxable
land you own
The land tax threshold varies from state to state
For example, for 2012 it was
$396,000 in New South Wales
$250,000 in Victoria
$316,000 in South Australia
$600,000 in Queensland
53
2.9 Profit and loss

The actual profit is the difference between the price the
item is sold for (the selling price) and the cost of that item
(the cost price)
An item may be sold for an amount that is less than the
cost price. The profit is therefore negative and is referred
to as a loss
The actual cost of an item is often difficult to calculate,
since it involves not only the cost of obtaining the item
from the supplier but other costs as well
54
2.9 Profit and loss (cont)

These include the general costs of running a business:
wages
insurance
taxes
stationery
equipment
electricity
rent
other overhead expenses
55

The following definitions will be useful for profits:
SP = selling price (not including any applicable GST)
CP = cost price
P = actual profit (when the value of SP exceeds the value of CP)
Ps = profit rate (or mark-up rate) expressed as a fraction of selling price
Pc = profit rate (or mark-up rate) expressed as a fraction of cost price
(The profit rates expressed as percentages are 100 Ps and 100 Pc,
respectively)
56

The following definitions will be useful for loss:
L = actual loss (when the value of CP exceeds the value of SP)
Ls = loss rate (or mark-down rate) expressed as a fraction of selling price
Lc = loss rate (or mark-down rate) expressed as a fraction of cost price
(The loss rates expressed as percentages are 100 Ls and 100 Lc ,
respectively)
57

The following relationships hold:
P SP CP
L CP SP
P
Ps
SP
L
Ls
SP
Pc
P
CP
Lc
L
CP
58
2.10 Stamp duty

Stamp duty is a tax on transactions that is levied by the
individual states in Australia
Stamp duty is really a tax on the document of transfer (the title
transfer), and not on the property itself
Stamp duty on vehicles
Stamp duty is based on the market value of the vehicle or the price that
was paid, whichever is greater
Stamp duty on real estate

Stamp duty is payable on the purchase price of property
59
2.10 Stamp duty (cont)

The amount payable depends on the price of the property and
which state it was bought in
60
Percentages Summary
The application of percentages in modern business practice
is widespread and this chapter has presented some of the
more common examples
The introduction of the GST into Australia was part of
significant tax reform including substantial personal income
tax cuts and the removal of a number of indirect taxes
In using the taxation tables and related information, it is
important to be aware that rates charged may vary from
year to year
+
c. Ratios and
Proportions
Objectives
should be able to:
calculate ratios and proportions

calculate and apply profit ratios
calculate and apply efficiency ratios
calculate and apply liquidity ratios
62
4.1 Ratios and Proportions

A ratio is a method of comparing two or more numbers or rates
A proportion represents the relative contribution of a quantity
to the whole
The value of a proportion should lie between 0 and 1
63
4.1 Ratios and Proportions (cont)

Ratios are often reduced to proportions
If two quantities X and Y occur in the ratio a:b respectively, then:
X occurs in the proportion
a
ab
Y occurs in the proportion
b
ab
of the time
of the time
64

Similarly, suppose that the three quantities X, Y and Z occur in
the ratio a : b : c respectively. This means that the
proportion that X occurs is
a
abc
the proportion that Y occurs is
b
abc
proportion that Z occurs is
c
abc
This notion is easily extended to as many quantities as desired

65

Rates
When comparisons involving large numbers are made, ratios are used to
express the rate at which events take place
e.g. The rate at which a car uses fuel is expressed as a rate in the form:
litres per 100 kilometres
In the case above, the first number is a non-integer and the second
number in the ratio is a base figure such as a standard unit of
measurement
66

Hence, a rate is really a ratio expressed with a specified base
Ratios with common last numbers may also be used to
compare several items to indicate the percentage difference
between one figure and another
For example: The first driver used 8.9 litres of fuel to drive 100 kilometres
and the second driver used 9.4 litres of fuel to drive 100 kilometres
We can therefore use these ratios as a basis of comparison for

fuel economy
67
4.2 Profit Ratios

Profit ratios express the relationship of profit to some financial
quantity (e.g. total assets or sales)
The financial position of a company is indicated by a balance sheet
A balance sheet lists the resources of value (assets) and liabilities. An
important issue is whether the company has the assets to cover its
liabilities
The components of a profit and loss statement (or income
statement) for a business produce the ratio of net profit to sales
68
4.2 Profit Ratios (cont)

Asset turnover
an asset is a resource of value controlled by a business
cash
bank deposits
inventory
receivables
this ratio measures sales to total assets and is known as the total
asset turnover
sales
Total asset turnover
total assets
69
4.2 Profit ratios (cont)

Example:
A company that sells mainframe computers has total sales of $3,400,000
in a period and assets of $1 200 000. Find the total asset turnover
Solution:
sales
total assets
$3,400,000
$1,200,000
2.833
Total asset turnover
e.g. total asset turnover equals 283.3%. This means that there was a
283.3% turnover in sales in relation to assets
70

The aim of any asset management is to determine the use
being made of assets to an organisation and to uncover any
trend in the make-up of the total asset base
The total turnover measures the overall effectiveness of a
companys current management
A company with a low net profit margin should have a larger
total asset turnover than a company with a high net profit
margin
71

The return on investment for a company may be broken down
into its profit margin and asset turnover components as follows
net profit
total assets
net profit
sales
sales
total assets
net profit
total asset turnover

sales
Return on investment
72
4.3 Efficiency ratios

An efficiency ratio of a company reflects its ability to achieve
the maximum return for the lowest possible level of assets
A measure of the efficiency of a companys stock control is
given by the stock turnover (or inventory turnover), where:
Stock turnover
cost of goods sold

average stock
where the cost of goods sold is found from the profit and loss
statement
opening stock closing stock
Average
stock
and
2
73
4.3 Efficiency ratios (cont)

Debtor turnover
a measure of the operating efficiency of the credit policy of a business is
the debtor turnover (or accounts receivable turnover)
gross credit sales

average gross accounts receivable
the debtor turnover uses gross figures and any bad debts are not
deducted
74
4.3 Efficiency ratios (cont)

The debtor turnover may also be expressed in terms of the
average collection period (in days)
Average collection period
365
detor turnover
The debtor turnover measures the effectiveness of credit

control
This ratio also indicates whether a company may be
extending its credit facilities beyond an acceptable limit
75
4.4 Liquidity ratios

Liquiditythe ability of a company to pay its immediate debts
There are two methods to measure this ability. They are
Current-asset ratio and Acid-test ratio
Current-asset ratio
indicates how well current liabilities are covered by current assets
defined as
Current-asset ratio
current assets
current liabilities
76
4.4 Liquidity ratios (cont)

If a company has a high current-asset ratio, it may indicate that
the company is able to meet its obligations
Whether a current-asset ratio is acceptable or not depends on
how readily stock and accounts receivable can be converted
into cash and how quickly cash flows in from sales
This ratio can be used to compare companies of varying sizes as
well as to measure the liquidity of the same company from
year to year
77

Acid-test ratio
The acid-test ratio includes assets that are expected to be turned
into cash and liabilities that are due to be repaid within 12 mths
Liquidity may be more immediately measured by excluding the
less liquid current assets and less urgent current liabilities
for example
current assets that may be excluded include inventory and hire-purchase
debtors
current liabilities excluded include bank overdrafts
78

The acid-test ratio (or quick-test ratio) is defined as
Acid - test ratio
current assets inventory

current liabilities bank overdraft
The acid-test ratio gives an indication of a companys ability to

use its own liquid assets to meet its immediate financial
commitments
It also provides a better indication than the current-asset ratio
of the companys ability to pay short-term debts
79
Other ratios
Other ratios that reveal trends over time:
Debt/equitytests the leverage of an entity
Proprietary ratioindicates long-term financial stability
Return on investmentinterest to current and potential shareholders
Rate of returnindicates that the dollar value of profits is less important
than the rate of return
80
Ratios and Proportions Summary

We have calculated ratios and proportions which included rates
We have calculated and applied profit ratios, which included
asset turnover and returns on investment
We have calculated and applied efficiency ratios like debtor
turnover. Also included was stock turnover and average stock
We have calculated and applied liquidity ratios such as currentasset ratio and acid-test ratio
81
Readings
Croucher, J.S. (2013). Introductory Mathematics and Statistics.
6th Edition. McGraw-Hill, Australia
a. Foundation Mathematics
Read Chapter 1, Sections 1.1 to 1.4 and 1.7
b. Percentages
Read Chapter 2, Sections 2.1 to 2.11
c. Ratios and Proportions
Read Chapter 4, Sections 4.1 to 4.5
Calculating percentage changes

What would the percentage change be if a companys profit
tripled?

100
1
= % change
if profit increased from $150 million to $450 million, the % change would
be:
=
=
450 150 100

x
150
1
300 100
x
150
1
= 200 or 200% increase

Calculating percentage changes (cont)

halved?

100
1
= % change
if profit decreased from $150 million to $75 million, the % change would
be:
=
=
75 150 100
x
150
1
75 100
x
150
1
= -50 or 50% decrease


turned into a loss?

100
1
= % change
if profit decreased from $150 million to a loss of $75 million, the % change
would be:
=
=
75 150 100
x
150
1
225 100
x
150
1
= -1.5 or 150% decrease


What would happen to my water usage if the amount of water
I used dropped 20% from one period to the next and then in
the following period, increased 20%. In absolute terms, would
my usage Drop, Increase or stay the Same?
= 100 litres x -20% = -20 Litres = 100 20 = 80 litres
= 80 litres x 20% = 16 Litres = 80 + 16 = 96 litres
Why isnt my water usage the same if the % decrease and
increase were the same? The base (denominator) changed
from 100 to 80

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Topic 1

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Business Performance Metrics and

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1.1 Whole numbers

Represent natural numbers or whole numbers

Basic Mathematical Operations

are four basic mathematical operations that can be

Division: represented by either

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Rules for Mathematical Operations

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Rules for Mathematical Operations

Multiplying the same signs gives a positive result

Multiplying different signs gives a negative result

Rules for Mathematical Operations

Dividing different signs gives a negative result 3 1

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Rules for Mathematical Operations

like signsuse the sign and add

Improper fractionnumerator greater than denominator

The number on top of the fraction is called the numerator and

+ Addition and Subtraction of

Step 2: Add or subtract the numerators to obtain the new

+ Multiplication and Division of

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Any zeros on the right-hand end after the decimal point

Rules for Decimals

Rules for Decimals (cont)

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Rules for Decimals (cont)

The quotient of this division is the answer

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Rules for Exponents

A number in exponential form is raised to another exponent; the result is

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Rules for Exponents (cont)

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Rules for Exponents (cont)

a is said to be the kth root of a. The kth root of a number is one

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Rules for Exponents (cont)

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1.5 Scientific Notation

N = the digit before the reference position, followed by the decimal

1.5 Scientific Notation (cont)

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Types of data: Categorical

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Types of data: Numerical

Often referred to as quantitative data

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Types of data: Numerical (cont)

A common mistake is to treat data collected using a

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The scale determines the amount of information contained in

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Ordinal data have no fixed unit of measurement. Thus cannot

Thus cannot make meaningful ratios

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Deakin University CRICOS Provider Code: 00113B