Numeracy Skills: A Comprehensive Guide to Essential Mathematical Concepts

NUMERACY
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Table of Contents
Section 1......................................................................................................................................................3
Task 2..........................................................................................................................................................3
Task 3......................................................................................................................................................4
Section 2......................................................................................................................................................5
Task 2..........................................................................................................................................................5
Task 3......................................................................................................................................................6
Section 3......................................................................................................................................................7
Task 2..........................................................................................................................................................7
Task 3......................................................................................................................................................9
Section 4....................................................................................................................................................10
References.................................................................................................................................................17
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Section 1
Task 2
Question 1
Reflection
During the learning in the class, I learned various and critical aspects of the most widely used
mathematical function namely, BODMAS rule. During the session, I gain an in-depth
understanding of its significance as well as its application while solving mathematical
calculations. I understand the fact that the BODMAS is simply a function explaining the order of
operations. Thus it explains the sequence in which mathematical operations will be solved since
it is impossible to solve all the operations at the same time. Several issues arise during the
session which was adequately resolved during the session by discussing these issues within the
overall class and discussing these issues were the main and prominent feature of the session. All
the people present in the class communicate their knowledge they possess. For the better
improvement, it is advisable to conduct class learning through digital learning and that too by
various field experts.
Question 2
Example of a ‘real-life’ problem
While performing ratio analysis, several and varied types of ratios are calculated to determine the
nature and extent of the relationship that exists between these two variables. This indirectly helps
to take various crucial decisions with respect to the investment decision (Khan, and Khokhar,
2015). For instance, while calculating the liquidity ratios, current ratios are the most widely used
ratios. If the current assets of a business organization are the $ 200,000 and the current liabilities
are the $100,000 then the current ratio comes out to be 2:1. In the same manner, all the ratios can
be computed and an effective portfolio can be chosen.
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Task 3
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