Mathematics for Business Analysis I Fall 2007

Transcription

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: [email protected] 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 5-Sep 1-1 Linear Equations and Inequalities 1-1 Linear Equations and Inequalities/1-2 graphs and R 6-Sep lines F 7-Sep 1-2 graphs and lines Quiz1 M 10-Sep 1-3 Linear Regression W 12-Sep 2-1 Functions R 13-Sep 2-2 Graphs and Transformations F 14-Sep 2-3 Quadratic Functions Quiz2 M 17-Sep 2-3 Quadratic Functions W 19-Sep 2-4 Exponential Functions. R 20-Sep 2-5 Logarithmic Functions. F 21-Sep 2-5 Logarithmic Functions. Quiz3 M 24-Sep 3-1 Simple Interest. W 26-Sep 3-2 Compound Interest R 27-Sep Review F 28-Sep Exam I- Chapters 1 and 2 M 1-Oct 3-3 Future Value of an Annuity; Sinking Funds. W 3-Oct 3-4 Present Value of an Annuity; Amortization. R 4-Oct 3-4 Present Value of an Annuity; Amortization. F 5-Oct Review Quiz4 M 8-Oct 4-1 Systems of Linear Equations in Two Variables. W 10-Oct 4-2 Systems of Linear Equations and Matrices. R 11-Oct 4-3 Gauss-Jordan Elimination. F 12-Oct 4-4 Matrices: Basic Operations. Quiz5 M 15-Oct 4-5 Inverse of a Square Matrix. W 17-Oct 4-6 Matrix Equations and Systems of Linear Equations. R 18-Oct Review F 19-Oct Exam II- Chapters 3 and 4 M 22-Oct 5-1 Inequalities in Two Variables. W 24-Oct 5-2 Systems of Linear Inequalities in Two Variables. R 25-Oct 5-3 Linear Programming in Two Dimensions

5 Date Material In class Homework F 26-Oct 5-3 Linear Programming in Two Dimensions Quiz6 M 29-Oct 7-1 Logic. W 31-Oct 7-2 Sets. R 1-Nov 7-3 Basic Counting Principles. F 2-Nov 7-3 Basic Counting Principles. Quiz7 M 5-Nov 7-4 Permutations and Combinations. W 7-Nov 7-4 Permutations and Combinations. R 8-Nov Review F 9-Nov Exam III- Chapters 5 and 7 M 12-Nov 8-1 Sample Spaces, Events, and Probability. W 14-Nov 8-2 Union, Intersection, and Complement; Odds. R 15-Nov 8-2 Union, Intersection, and Complement; Odds. F 16-Nov 8-3 Conditional Probability and Independence. Quiz8 M 19-Nov 8-3 Conditional Probability and Independence. W 21-Nov Thanksgiving R 22-Nov Thanksgiving F 23-Nov Thanksgiving M 26-Nov 8-4 Bayes' Formula. W 28-Nov 8-5 Random Variable, Probability Distribution etc R 29-Nov 11-1 Graphing Data. F 30-Nov 11-2 Measures of Central Tendency. Quiz9 M 3-Dec 11-3 Measures of Dispersion. W 5-Dec 11-4 Bernoulli Trials and Binomial Distributions. R 6-Dec 11-4 Bernoulli Trials and Binomial Distributions. F 7-Dec 11-5 Normal Distributions. Quiz10 M 10-Dec 11-5 Normal Distributions. W 12-Dec Review R 13-Dec Exam IV- Chapters 8 and 11 F 14-Dec Optional Final - Chapters 1-5,7,8,11