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Business mathematics are mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis.[1]
Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability. For some management problems, more advanced mathematics - calculus, matrix algebra, and linear programming - may be applied.
- ^ J. Olivier (2021). Business Math: A Step-by-Step Handbook. Lyryx Learning (open textbook)