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Numbers guide: Essentials of business numeracy

Material type: TextTextPublication details: London; Economist Association; 1997Edition: 3rd edDescription: 237 pISBN:
  • 9781861970336
Subject(s): DDC classification:
  • 330.0282 ECO 3rd ed.
Summary: The new edition of this well-established guide covers all you need to know about numbers and numerical techniques. Liberally scattered with charts, graphs, tables and feature boxes, it explains the fundamentals of numeracy and provides a range of essential methods for effective decision-making. An A-Z of terms gives easy reference and is supported by a detailed index. ● On rounding Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers. On percentages Ifalic inflation rate rises from 10% to 12% it has two percentage points, but the actual percent increase is 20%. On probability The probability of dealing a five-card hand containing four aces is 48/2,598,960= 0.0000185 or 1 in 54,145. Not something to put money on.
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The new edition of this well-established guide covers all you need to know about numbers and numerical techniques. Liberally scattered with charts, graphs, tables and feature boxes, it explains the fundamentals of numeracy and provides a range of essential methods for effective decision-making.

An A-Z of terms gives easy reference and is supported by a detailed index.

● On rounding

Two times two makes four? Right? Wrong. The answer could be anywhere between two and six when dealing with rounded numbers.

On percentages

Ifalic inflation rate rises from 10% to 12% it has two percentage points, but the actual percent increase is 20%.

On probability

The probability of dealing a five-card hand containing four aces is 48/2,598,960= 0.0000185 or 1 in 54,145. Not something to put money on.

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