Contemporary Business Mathematics with Canadian Applications (12th Edition)

Specifications

Book Description

“Contemporary Business Mathematics with Canadian Applications” by S.A. Hummelbrunner, Ali R. Hassanlou, and Kelly Halliday offers a comprehensive exploration of mathematical concepts applied in various business scenarios within the Canadian context. Here's an overview of what the 12th edition covers:

1. Fundamental Mathematical Concepts: The book starts by covering fundamental mathematical concepts essential for understanding business mathematics, including arithmetic operations, fractions, decimals, percentages, and basic algebraic equations.
2. Financial Mathematics: Students are introduced to financial mathematics topics such as simple and compound interest, annuities, loans, investments, and the time value of money. These concepts are crucial for understanding financial transactions, calculating interest rates, and making informed financial decisions.
3. Financial Statements and Analysis: The book delves into financial statements and analysis, teaching students how to interpret income statements, balance sheets, and cash flow statements. It covers ratio analysis and financial performance metrics used to evaluate the financial health and performance of businesses.
4. Inventory Management and Pricing: Students learn about inventory management techniques, including inventory costs, valuation methods, and inventory turnover ratios. Pricing strategies, including cost-plus pricing, markup pricing, and break-even analysis, are also covered to help students understand how businesses set prices.
5. Banking and Finance: The text explores banking operations, including bank accounts, banking services, electronic banking, and credit management. Students gain insights into personal finance topics such as budgeting, credit cards, mortgages, and retirement planning.
6. Business Statistics: Statistical concepts relevant to business decision-making are covered, including data presentation, measures of central tendency and dispersion, probability theory, and statistical inference. Students learn how to analyze data, make predictions, and draw conclusions based on statistical analysis.
7. Business Applications and Case Studies: Throughout the book, real-world business applications and case studies are integrated to illustrate how mathematical concepts are applied in various business contexts. These examples help reinforce learning and demonstrate the practical relevance of business mathematics.
8. Technology Integration: The text may include sections on utilizing technology tools such as spreadsheets, calculators, and software applications for solving business math problems and conducting financial analysis.
9. Canadian Business Context: Specific attention is paid to Canadian business practices, regulations, and examples, ensuring that students understand how mathematical concepts are applied in the Canadian business environment.

“Contemporary Business Mathematics with Canadian Applications” provides students with a solid foundation in business mathematics, equipping them with the quantitative skills and analytical tools necessary for success in various business disciplines and industries within the Canadian business landscape.