Title:

The fast forward MBA in business math

Author:

Garrity, Peter.

Personal Author:

Publication Information:

New York : Wiley, [2000]

©2000

Physical Description:

x, 342 pages : illustrations ; 26 cm.

Language:

English

ISBN:

9780471315032

Format :

Book

### Available:*

Library | Call Number | Material Type | Home Location | Status | Item Holds |
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Searching... | HF5691 .G317 2000 | Adult Non-Fiction | Non-Fiction Area | Searching... | Searching... |

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### Summary

### Summary

This volume is designed designed to help readers master the basic quantitative skills that are part of any business environment. Key concepts covered include the time value of money, basic statistics, and an introduction to algebra.

### Author Notes

Peter Garrity, PhD, is a professor at Columbia University Business School

### Table of Contents

Part 1 Making Decisions with Time Value of Money: it Makes Cents | p. 1 |

Chapter 1 The Basics of Time Value of Money | p. 3 |

A Simpler Time: The Basic Definitions | p. 4 |

The Nature of Compound Interest | p. 8 |

Time Value of Money and Your Calculator | p. 13 |

Applications of Future Value | p. 16 |

End Point | p. 24 |

Chapter 2 The Dynamics of Compounding | p. 25 |

Compounding in a Nutshell | p. 25 |

Understanding Nominal and Effective Rates | p. 30 |

The Best Compounding Relationship | p. 36 |

Applications of Periodic Compounding | p. 41 |

End Point | p. 43 |

Chapter 3 The Significance of Present Value | p. 45 |

Defining Present Value | p. 45 |

Determining Rate of Return | p. 52 |

Finding the Annual Rate of Return | p. 53 |

Determining Time to Achieve a Specified Return | p. 54 |

Applications of Present Value | p. 55 |

End Point | p. 62 |

Chapter 4 The Fundamentals of Cash Flows | p. 65 |

Defining a Cash Flow | p. 66 |

Defining Annuities | p. 66 |

Annuity Structure of an IRA Plan | p. 73 |

The Present Value of an Annuity | p. 73 |

Determining the Payment Amount | p. 76 |

Applications of Cash Flow Analysis | p. 78 |

End Point | p. 87 |

Chapter 5 The Beauty of Bonds | p. 89 |

The Nature of Bonds | p. 89 |

Defining Bonds | p. 90 |

How Coupon Bonds Work | p. 90 |

Cash Flow for a Zero-Coupon Bond | p. 93 |

What Makes Bonds Attractive Investments | p. 97 |

Applications of Bond Cash Flows | p. 108 |

Determining Yield to Maturity | p. 111 |

End Point | p. 115 |

Chapter 6 The Decision-Making Power of Internal Rate of Return and Net Present Value | p. 117 |

How Companies Compare Returns among Competing Projects | p. 118 |

What the Internal Rate of Return Tells You | p. 122 |

Introducing Net Present Value (NPV) | p. 127 |

Applications of IRR and NPV | p. 133 |

End Point | p. 140 |

Part 2 Business Statistics: Making Decisions from Data | p. 141 |

Chapter 7 Organizing Your Data for Better Decision Making | p. 143 |

Statistics in Action | p. 143 |

Descriptive versus Inferential Statistics | p. 144 |

Rules Regarding Sampling | p. 148 |

Details Regarding Frequency Classes | p. 151 |

The Mean as a Measure of Central Tendency | p. 157 |

The Median--Not Influenced by Outliers | p. 163 |

Mean or Median--Which Is Better? | p. 164 |

The Mode--Identifying the Clusters | p. 165 |

Skewness | p. 166 |

Applications of Data Organization and Central Tendency | p. 166 |

End Point | p. 172 |

Chapter 8 Describing Variation | p. 175 |

Defining Variation | p. 176 |

The First Measure of Variation: Range | p. 177 |

The Second Measure of Variation: Average Deviation | p. 178 |

A Better Measure of Variation: Variance | p. 180 |

The Almighty Standard Deviation | p. 182 |

The Coefficient of Variation | p. 186 |

Applications of Data Variation | p. 187 |

End Point | p. 191 |

Chapter 9 Fundamentals of Probability Distributions | p. 193 |

The Nature of Random Variables | p. 194 |

Discrete and Continuous Variables | p. 194 |

Introducing Probability | p. 195 |

Expected Value and the Mean | p. 203 |

Applications of the Binomial Distribution | p. 206 |

End Point | p. 209 |

Chapter 10 Probability and the Normal Distribution | p. 211 |

Perspective on the Normal Distribution | p. 212 |

Finding Probabilities with the Normal Distribution | p. 219 |

The Importance of Sketching | p. 219 |

Using the Standard Normal Distribution | p. 220 |

The Importance of Sample Means | p. 227 |

Applications of the Normal Distribution | p. 229 |

End Point | p. 237 |

Chapter 11 Hypothesis Testing | p. 239 |

Hypothesis Testing and Quality Control--A Case | p. 240 |

Defining the Null Hypothesis Setup | p. 240 |

Creating a Null Hypothesis | p. 241 |

Decision Options in Hypothesis Testing | p. 242 |

Determining Risk with Type I and Type II Errors | p. 244 |

Using Level of Significance to Define Decision Limits or Critical Values | p. 253 |

Applying Hypothesis Testing | p. 255 |

End Point | p. 257 |

Chapter 12 Regression and Estimation | p. 259 |

Correlation and Causation | p. 260 |

The Difference between Regression and Correlation | p. 260 |

Types of Regression Models | p. 261 |

Conducting a Bivariate Study | p. 262 |

Mapping the Steps in Regression Analysis | p. 264 |

Regression and the Computer | p. 271 |

Applications of Regression Analysis | p. 276 |

End Point | p. 287 |

Part 3 All the Algebra and High School Math You Need for Business | p. 289 |

Chapter 13 Algebra Redux | p. 291 |

Recommended Method of Proceeding | p. 291 |

Operations with Numerical and Algebraic Expressions | p. 292 |

The Importance of Factoring | p. 297 |

Solving First-Degree Equations | p. 299 |

Functions | p. 301 |

The Importance of Slope | p. 306 |

Behavior of the Quadratic Function | p. 308 |

Solving Systems of Equations | p. 313 |

Behavior of the Exponential Function | p. 318 |

Behavior of e[superscript x] and Continuous Compounding | p. 321 |

Using Summation Notation | p. 323 |

Using Logarithms | p. 324 |

Factorials and Their Applications | p. 327 |

Appendix Time Value of Money and Standard Normal Distribution Tables | p. 331 |

Index | p. 338 |