Mathematics for Business Analysis I Fall 2007


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1 Mathematics for Business Analysis I Fall 2007 Instructor Asõkā Rāmanāyake Office: Swart 223 Office Hours: Monday 12:40 1:40 Wednesday 8:00 9:00 Thursday 9:10 11:20 If you cannot make my office hours, please feel free to make an appointment or use e mail to ask questions. Phone: Web: Course Objectives 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. Upon completion of this course, the student should be able to... 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. Use basic counting techniques and calculate probabilities, including conditional probabilities. Apply the mathematical knowledge of probability to business problems and interpret the results. Calculate measures of central tendency and measures of dispersion. Apply the mathematical skills to problems in various business settings and interpret the results.
2 Prerequisites: or with a grade C or above. Textbook: R.A. Barnett, M.R. Ziegler and K.E. Byleen, College Mathematics, 11th Edition Calculator TI 83/TI 83 PLUS/ TI 84 is required. Instruction in class will be based on this graphing calculator. A guide is posted on D2L. Please bring your calculator to class everyday. Grading Four exams (each 100 points) % Quizzes (each 10 points) % Attendance, Class participation and worksheets % Total % Quizzes and Exams A quiz will be given almost every Friday. Some of the quizzes will be group quizzes. Only students who have attended both previous 2 class periods will be allowed to work in groups during these quizzes. Tentative dates are listed on the schedule, but these may change without warning. Review solutions from previous homework and previous class material to prepare for quizzes. Some of the questions will be similar to the questions from homework. There will be absolutely no make ups of quizzes. However, the lowest quiz score will be dropped Make up exams will be given only in special circumstances. Midterm exams can be made up for students who notify me (with appropriate proof) at least two days before the exam of their unavoidable absence. All the quizzes and exams are closed book. Calculators are allowed for all exams, however sharing them is not allowed. Worksheets: The details of these will be given later.
3 Attendance Attendance is mandatory. You are responsible for all the announcements, changes, course information, and topics that I cover in class. Grade A A/B B B/C C D F Cut off(%) <60 Course Outline: Chapters 1 and 2: Review of Elementary Functions Chapter 3: Mathematics of Finance Chapter 4: Systems of Linear Equations Chapter 5: Linear Programming Chapter 7: Logic, Sets and Counting Chapter 8: Probability Chapter 11: Data Description and Probability Distributions Here are a few suggestions as you approach this course: Come to class Ask questions Use office hours Donʹt get behind Donʹt get overconfident Turn in homework Watching someone else solve problem you have not attempted will do little to improve your problem solving skills. Have fun! Think!!
4 Tentative Schedule Date Material In class Homework W 5Sep 11 Linear Equations and Inequalities 11 Linear Equations and Inequalities/12 graphs and R 6Sep lines F 7Sep 12 graphs and lines Quiz1 M 10Sep 13 Linear Regression W 12Sep 21 Functions R 13Sep 22 Graphs and Transformations F 14Sep 23 Quadratic Functions Quiz2 M 17Sep 23 Quadratic Functions W 19Sep 24 Exponential Functions. R 20Sep 25 Logarithmic Functions. F 21Sep 25 Logarithmic Functions. Quiz3 M 24Sep 31 Simple Interest. W 26Sep 32 Compound Interest R 27Sep Review F 28Sep Exam I Chapters 1 and 2 M 1Oct 33 Future Value of an Annuity; Sinking Funds. W 3Oct 34 Present Value of an Annuity; Amortization. R 4Oct 34 Present Value of an Annuity; Amortization. F 5Oct Review Quiz4 M 8Oct 41 Systems of Linear Equations in Two Variables. W 10Oct 42 Systems of Linear Equations and Matrices. R 11Oct 43 GaussJordan Elimination. F 12Oct 44 Matrices: Basic Operations. Quiz5 M 15Oct 45 Inverse of a Square Matrix. W 17Oct 46 Matrix Equations and Systems of Linear Equations. R 18Oct Review F 19Oct Exam II Chapters 3 and 4 M 22Oct 51 Inequalities in Two Variables. W 24Oct 52 Systems of Linear Inequalities in Two Variables. R 25Oct 53 Linear Programming in Two Dimensions
5 Date Material In class Homework F 26Oct 53 Linear Programming in Two Dimensions Quiz6 M 29Oct 71 Logic. W 31Oct 72 Sets. R 1Nov 73 Basic Counting Principles. F 2Nov 73 Basic Counting Principles. Quiz7 M 5Nov 74 Permutations and Combinations. W 7Nov 74 Permutations and Combinations. R 8Nov Review F 9Nov Exam III Chapters 5 and 7 M 12Nov 81 Sample Spaces, Events, and Probability. W 14Nov 82 Union, Intersection, and Complement; Odds. R 15Nov 82 Union, Intersection, and Complement; Odds. F 16Nov 83 Conditional Probability and Independence. Quiz8 M 19Nov 83 Conditional Probability and Independence. W 21Nov Thanksgiving R 22Nov Thanksgiving F 23Nov Thanksgiving M 26Nov 84 Bayes' Formula. W 28Nov 85 Random Variable, Probability Distribution etc R 29Nov 111 Graphing Data. F 30Nov 112 Measures of Central Tendency. Quiz9 M 3Dec 113 Measures of Dispersion. W 5Dec 114 Bernoulli Trials and Binomial Distributions. R 6Dec 114 Bernoulli Trials and Binomial Distributions. F 7Dec 115 Normal Distributions. Quiz10 M 10Dec 115 Normal Distributions. W 12Dec Review R 13Dec Exam IV Chapters 8 and 11 F 14Dec Optional Final  Chapters 15,7,8,11
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