MATHEMATICS FOR BUSINESS ANALYSIS I – Spring 2008 N. Halsey 237

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MATHEMATICS FOR BUSINESS ANALYSIS I – Spring 2008
67-204-004
M T W F 11:30 AM – 12:30 PM
Instructor: Rohini Muthuvel
Phone:
424-7349
Office hours:
Office:
Email:
N. Halsey 237
Swart 221
[email protected]
M W
9:10 – 10:10 AM
T
12:40 – 1:40 PM
F
1:50 – 2:50 PM
Others by appointment
Text: Finite Mathematics for Business, Economics, Life Sciences and Social
Sciences, 11th edition by Raymond A. Barnett, Michael R. Ziegler and Karl E.
Byleen
Calculator: TI-83 or TI-84 Graphics Calculator is required.
Bring your calculator to class every day.
Course Description:
This course is designed to acquaint business students with mathematical
techniques, which are useful in business and management. Topics include
functions, matrix algebra and applications, linear programming, probability, and
mathematics of finance.
Prerequisites:
Math 103 or Math 108 with a grade C or above.
General Goals and Objective for the Course:
Identify the basic graphs and properties of polynomial, rational, exponential, and
logarithmic functions. Apply the knowledge of functions to business applications
such as simple, compound or continuous compound interest, ordinary annuities,
finding the maximum or minimum for quantities which are quadratic functions,
and finding break even points.
Perform basic operations with matrices, and use matrix methods to solve systems
of linear equations. Apply the knowledge of matrices to business problems such
as inventory, production, and total cost.
Use geometric method to solve linear programming problems. Interpret
information as an objective function with constraints, set up the linear
programming problem, solve the problem and interpret the result in the context of
the problem.
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Use basic counting techniques and calculate probabilities, including conditional
probabilities. Apply the mathematical knowledge of probability to business
problems and interpret the results.
Represent data with graphical and numerical summaries. Calculate probabilities
for binomial and normal distributions. Apply the statistical skills to problems in
various business settings and interpret the results.
Description of Specific Content:
The course will cover the following topics.
Functions: Linear, quadratic, rational, exponential and logarithmic function.
Transformation of functions and graphing.
Mathematics of Finance: Simple and compound interest, future value and
present value of annuities, sinking funds, and amortization.
Systems of Linear Equations and Matrices: Solution of systems of linear
equations by graphing, substitution, elimination by addition, Gauss-Jordan
elimination and use of matrix inverse. The systems of equations considered will
have a unique solution, no solution or an infinite number of solutions.
Linear Programming: Systems of linear inequalities in two variables, geometric
approach to solving linear programming problems in two variables.
Probability and Statistics: Operations on sets, counting techniques including
permutations and combination, basic properties of probability, conditional
probability, Bayes formula, random variables and expected values. Graphical
description and numerical summaries of data. Binomial distribution and normal
distribution.
Exam: There will be 4 exams each worth 100 points. Make-ups for missed
exams will be available only in very special Make-ups for missed exams will be
available only in very special circumstances. You must call before the scheduled
exam in order for a make-up to be considered.
Tentative Dates:
Exam 1
February 26
Exam 2
March 21
Exam 3
April 23
Exam 4
May 16
Quizzes:
There will 14 quizzes each worth 10 points. Quizzes must be taken at
the time they are scheduled in class, i.e., quizzes cannot be taken early or made up
at a later time.
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Homework: Homework will be assigned for each section. These problems will
not be collected for grading but used for discussion.
Attendance: Attendance will count as 5% of your grade. Attendance will be
taken in each class. More than 4 absences (for any reason) will affect your final
grade by losing one percent of your course grade for each class missed. Arriving
late or leaving early will count as half a point. If absent, it is your responsibility to
obtain the missed lecture notes and to do the assignment.
Grading:
Exams (4)
Quizzes
Attendance
[91 , 100]
[77 , 82)
Below 60
A
BC
F
19% each
19%
5%
[88 , 91)
[70 , 77)
AB
C
[82 , 88)
[60 , 70)
B
D
Remarks: If you have any problems, please feel free to see me during
my office hours or make an appointment.
Tutors are available free of charge in Swart 113.
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