D. NUMERACY

The numeracy tasks of small business owner/operators involve:

• Money Math at Complexity Level 3.
• Scheduling or Budgeting/Accounting Math at Complexity Level 5.
• Measurement and Calculation Math at Complexity Level 3.
• Data Analysis Math at Complexity Level 3.
• Numerical Estimation at Complexity Level 3.

Examples:

Small business owner/operators:

• calculate prices using a formula.
• approve payment of bills which include calculation of a quantity of product charged at a unit rate, discount and taxes.
• prepare payroll.
• review financial records to determine accuracy and adherence to financial procedures.
• prepare annual business plans which include establishing and monitoring budgets and schedules for the short, medium, and long-term.
• measure dimensions of a room and/or windows in order to optimize the use of floor space.
• analyze statistics from client surveys and other forms of research to draw conclusions about the quality of customer service.
• analyze Statistics Canada data to stay abreast of economic trends.
• make estimates, such as the demand for various products and interest rates, in preparing annual business plans.

1. Specific Math Skills or Knowledge Use

Whole Numbers

Read and write, count, round off, add or subtract, multiply or divide. For example, inventory control.

Integers

Read and write, add or subtract, multiply or divide. For example, plot data on graphs.

Fractions

Read and write, add or subtract, multiply or divide by a fraction, multiply or divide fractions. For example, half price sale.

Decimals

Read and write, add or subtract, multiply or divide by a decimal, multiply or divide decimals, round off. For example, calculate unit costs.

Other Real Numbers

Not applicable.

Per Cent

Read and write, calculate per cent one number is of another, calculate a per cent of a number, calculate a number when percentage is known. For example, calculate profit margins.

Equivalents

Convert between fractions and decimals or percentages, convert between decimals and percentages. For example, calculate discounts.

Ratio and Proportion

Use ratio to show comparisons between two numbers, use proportion to solve problems. For example, compress computerized data to diskette or change size of paper.

Summary Calculations

Calculate averages, calculate proportions or ratios, calculate rates other than percentage. For example, calculate average hourly wage.

Areas, Perimeters, Volumes

Calculate areas, calculate perimeters, calculate volumes. For example, calculate the area of an office.

Measurement Conversions

Convert between metric and imperial measurement systems. For example, convert inches to centimetres.

Algebra

Calculate formulas for spreadsheet. For example, Excel. Solve for an unknown. For example, set selling price when cost of sales and materials is known.

Trigonometry

Calculate. For example, fabrication and stress load.

Geometry

Recognize common angles such as 15, 30, 45 and 90 degrees, draw, sketch, or form common forms and figures such as circles, triangles, spheres, rectangles, squares, etc. For example, review advertising copy.

Probability and Statistics

For example, analyze data from Statistics Canada.

2. Calculations

Some small business owner/operators make calculations:

• in their heads.
• using pen and paper.
• using a calculator to add and subtract and for calculating percentages.
• using an adding machine.
• using a computer.

3. Measurement

Small business owner/operators:

• measure electrical current, such as volts, amps and ohms.
• use scales to measure weight, such as freight, food, vehicles or people.
• use thermometers for cooking or baking, to check efficiency of coolers and to maintain climate control.
• use standard measuring devices, such as shot glasses, measuring cups and spoons.
• measure distances, such as GPS, odometers and transits.
• measure time using a watch or clock.

They use both metric and imperial measurement systems.