Numbers guide: Essentials of business numeracy
- 3rd ed.
- London Economist Association 1997
- 237 p.
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.