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1 Math 204 FINITE MATHEMATICS FOR BUSINESS Fall, 2014 SECTION 012 TIME 1:50 PM – 2:50 PM DAYS MTuWF ROOM Swart 240 INSTRUCTOR: Dr. Hong Zhang OFFICE: Swart 206 PHONE: 424-7353 E-MAIL: [email protected] OFFICE HOURS: 8:00-10:00 AM (MWF) , or by appointment. TEXT: Finite Mathematics for Business, Fall 2014-Summer 2015 version (Orange Cover), by Zoubir Benzaid, K.L.D. Gunawardena, Kandasamy Muthuvel and Steven Winters. PREREQUISITE: Mathematics 103 or 108 with a grade of C or better. ABOUT THE COURSE: We will cover Chapters 1-6 CALCULATOR: TI-83 / TI-83 Plus / TI-84 / TI-84 Plus Graphing Calculator is required EXAMS: There will be three exams: Exam 1 EXAM TOPICS Chapters 1,2 DATE Oct. 8, 2014 Exam 2 Chapters 3,4 November 5, 2014 Location Testing Center (In the basement of Polk Library) Testing Center Exam 3 Chapters 5,6 December 9, 2014 Testing Center In the event that classes are officially canceled on the day of a quiz, you should assume that the quiz will be given the next day that the class meets. MAKE-UP EXAMS/QUIZZES will be given only when student has a valid university excuse. Please contact me as soon as you can if such circumstances occur. If a make-up exam/quiz is allowed, it may contain a different number of questions and/or different types of questions. GROUP PROJECTS: There will be group projects throughout the semester. There will be NO make-ups on group projects. HOMEWORK: Problems from the text will be assigned each day. While the solutions to assigned problems will not be collected, you should do the problems in order to learn the proper application of the techniques and concepts covered in the text. 2 GRADING POINTS: Exams 1-3 [100 points each], total for exams: 300 points Quizzes [10 points each], total for quizzes: 90 points (9 out of 10 quizzes count) Group Projects: 10 points Total=400 points GRADING SCALE: PERCENTAGE 90%-100% 87%-89.999% 84%-86.999% 81%-83.999% GRADE A AB+ B PERCENTAGE 78%-80.999% 75%-77.999% 70%-74.999% 66%-69.999% GRADE BC+ C D+ PERCENTAGE 63%-65.999% 60%-62.999% 0%-59.999% GRADE D DF ATTENDANCE: You will be expected to attend to classes regularly. If you miss a class, you are responsible for all material covered, assignments and all announcements made that day. LAST DAY TO Withdraw WO LADRF: 10/17/2014 Thanksgiving Recess: Wednesday, November 26 – Sunday, November 30, 2014. ACADEMIC INTEGRITY: You are expected to be “responsible for the honest completion and representation of your own work.” CELL PHONES: All cellular phones, pagers, iPod and other electronic equipment should be turned off and put away during class period. 3 GENERAL GOALS AND OBJECIVE 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. 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. 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. COURSE DESCRIPTION: The first course in mathematics for business students is divided into five parts: Basic Algebra Review, Functions, Mathematics of Finance, Systems of Linear Equations, Linear Programming, Probability and Statistics. The course will cover all the material of the text. The course will cover the following topics. Algebra Review: Algebra and Real Numbers, Operations on Polynomials, Rational Expressions, Integer Exponents and Scientific Notation, Rational Exponents and Radicals, Factoring Polynomials, Quadratic Equations. 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. 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, expected values and variance . Binomial distribution and normal distribution.