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MATHEMATICS FOR BUSINESS ANALYSIS I – Spring 2008
Math 204, sec 2C
MTWTh 09:10 AM – 10:10 AM
Instructor: Dr. C. Winfield
Phone:
424-7345
Office hours:
Office:
Email:
Room: Swart 2
Swart 222
[email protected]
M T W Th. 10:20 – 11:20 AM,
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-83 Plus 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.
Description of Students Who Take the Course:
The course is designed for students planning to major in Business, Economics or
related subjects. The course is a prerequisite for Math 206.
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
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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.
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 weighed according 100 percentage points.
Typically, no make-up test will be offered and a score of 0 will be recorded for
missed exams. Exceptions: Make-up exams will be available only in special
situations, namely medical emergencies or prior arrangement under very special
circumstances. Documentation will be expected in order for me to approve a
makeup test. Expect make-up tests to be taken before the scheduled test and
expect it to be different (perhaps harder) than the scheduled test. There is no
cumulative final exam – but each one will seriously count!!
Tentative Dates: (exam date to be finalized at least 1 week in advance).
Exam 1
Feb. 28
Exam 2
March 20
Exam 3
April 17
Exam 4
May 15
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Quizzes/homework: There will be several short quizzes, most of them will be
announced. 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. I will drop the lowest
percent score from this part of your grade.
Practice problems: Throughout the course a list of problems will be assigned at
the end of class. These problems will not be graded or collected, but the majority
of graded work will be based on these questions.
Attendance: Attendance will not be recorded, but it will be expected. Material
already covered will not be repeated in class, except in review sessions for a test,
time permits. Usually material missed can be discussed during office hours. To
encourage attendance, I will have some short, UNNANNOUNCED quizzes, based
on recent homework or practice problems.
Grading:
4 Exams
80% (20% each)
Quizzes/homework
20% (average based on percent scores)
Approximate grade scale will be according the given ranges
A: 90 and above
B: 80 and below 90
C: 70 and below 80
D: 60 and below 70
F: below 60
Intermediate grades, AB or BC, may be assigned for scores sufficiently close to the
next highest grade.
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.
Please TURN CELL PHONES OFF DURING CLASS
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