Download Math Review document - Duke University`s Fuqua School of Business

MMS Math Review
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Course dates: July 5-8, 2016
Registration deadline: June 20, 2016
Cost: $950
Register here: https://dukefuqua.qualtrics.com/SE/?SID=SV_3E6diNDg8cq2Wz3
DECISION 502F: MMS Business Math Review
The MMS Business Math Review is a 5-day course prior to the start of the MMS program. The course is
for students who have limited math/quantitative. The purpose of the course is to help students build
their quantitative skills, so they can succeed throughout the MMS program. Please review the
information below for a course description, course logistics, cost, and sign-up. Students must register for
the course no later than Monday, June 20.
Course Overview
The Summer Math Review Course focuses on math for business. It is extremely important that you begin
the program with solid mathematical skills since many courses will require mathematical knowledge.
There is a fee associated with this summer course and registration is required.
Meeting Time: The Summer Math Review Course is a four-day review session, which will meet Tuesday,
July 5th through Saturday, July 9th, from approximately 8 a.m. to 5 p.m. (exact times and location to be
communicated closer to the start of the course).
Who Can Attend: Only those either required or recommended to complete this course by Fuqua
Admissions (requirements outlined in your admission letter) should register for this course.
Course Topics
The Summer Math Review Course includes the following topics:
1. Algebraic functions and graphs
2. Solving systems of equations and inequalities
3. Basic calculus concepts and applications — the derivative as slope and rate of change,
optimization, partial derivatives, area under a curve
4. Logarithmic and exponential functions
5. Basic finance mathematics — Present and future value, annuities and amortization, Net present
value and Internal rate of return
6. Basic probability — through conditional probability and probability trees, discrete and
continuous probability distributions
7. Some statistics — examining large data sets, math for linear regression
Throughout the course, the primary emphasis will not be on the theory behind these concepts, but on
the applications of the concepts from a managerial perspective. The concepts of modeling real-world
scenarios will serve to tie the lectures together. Excel spreadsheets will be used when appropriate
throughout the course. In addition to discussion/lecture sessions, study group sessions will offer
students the opportunity to do problems in small groups.
Calculator Options
You will need a calculator for this course and others. The calculator should have at least the ability to do
exponential operations. Most students opt for more capability. They generally like to work with a
calculator that has finance keys on it (i.e. FV, PV, NPV, IRR) or one that has Time Value of Money (TVM)
mode. The calculator does not need to have graphing capabilities nor does it need to be programmable.
Please spend some time getting to know your calculator before you start the Summer Math Review
Course. You should be able to use your calculator to do the following exercises:
1. Calculate the fifth root of 157 to three decimal places. [ans. 2.749]
2. Determine how much money will be in an account in eight years if $1,000 is deposited into that
account today, assuming the interest rate is 5 percent per year compounded annually [ans.
$1,477.46]
Registration
The course fee is $950. To register for the course, please fill out this survey:
https://dukefuqua.qualtrics.com/SE/?SID=SV_3E6diNDg8cq2Wz3. Students must register for the course
by Monday, June 20. No refunds will be issued after the sign-up date has passed. If you have questions,
please email [email protected].