Business Math

Knowledge of mathematical concepts and ability to apply these to business transactions.

Behavior Statements

Proficiency Level 1 - Basic understanding

Performs basic arithmetic quickly and correctly.

Explains arithmetic symbols and the order of operations.

Uses variety of rounding techniques and explains their associated implications.

Calculates percentages and ratios and knows when to utilize.

Proficiency Level 2 - Working experience

Uses basic computational tools such as calculators, spreadsheets, or custom applications.

Works with fractions and decimal point notation and computations.

Describes the formulas for basic statistical functions such as average, median.

Assures accuracy using basic validation and cross-checking techniques.

Works with metric and non-metric scales and uses conversion tools and techniques.

Proficiency Level 3 - Extensive experience

Helps others develop expertise with common financial and mathematical computations.

Creates and tests complex arithmetic formulas involving multiple expressions.

Troubleshoots and consults on difficult or unusual calculations including algebraic equations.

Verifies process for selecting best mathematical formula or method for a specific measurement.

Teaches others how to use financial and mathematical functions in a spreadsheet.

Determines key measurements to be used in business and explains the rationale for their usage.

Proficiency Level 4 - Subject matter depth and breadth

Solves a wide range of complex mathematical problems using a variety of techniques.

Identifies opportunities for applying mathematics to business situations.

Validates data analysis performed by others and identifies errors in logic or formulas.

Teaches others mathematical formulas for quantifying business activities.

Serves as expert in the application of quantitative methods and tools in business.

Demonstrates the value of advanced math (such as linear programming or calculus) in business.

What steps did you take to ensure that your work, and the work of your colleagues, was accurate?
What are some of the common mathematical formulas or functions that you have used, and what did you use them for?
Tell me about any math classes you've taken. What did you learn and how did you apply that information?
Have you ever taught/trained a colleague on business math? How did you explain the concept(s) and test for understanding?