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MATHEMATICS FOR BUSINESS ANALYSIS I – Fall 2009
67-204-003
M, Tu, W, F: 9:10 AM – 10:10 AM
Instructor: Dr. Kandasamy Muthuvel
Phone: 424-0301
Swart 3
Office: Swart 243
Email: [email protected]
Office hours: M, Tu, W, F: 10:20 AM – 11:20 AM,
M, Tu, W: 1:50 PM – 2:50 PM, 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-84 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 104 with a grade C or above.
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
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
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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 worth 100 points. Make-ups for missed exams will be
available only in very special circumstances. You must e-mail me before the scheduled exam in
order for a make-up to be considered. Exam dates will be announced at least one week in
advance.
Quizzes: There will be 10 quizzes each worth 10 points. Quizzes must be taken at the time they
are scheduled in class.
Homework: Homework will be assigned each class. Students are expected to come to class
with assignment completed and the next section read. Homework will not be collected. It is
important that you keep up with the homework. Most of the problems on the quizzes are very
similar to the homework problems.
Attendance: Attendance will count as 3% of your grade. Attendance will be taken in each class.
Regular attendance is required. Those having two or more unexcused absences will be
penalized.
Exams (4)
Quizzes
Attendance
Grading:
[90, 100]
[88, 90)
[85, 88)
[80, 85)
A
A __
B+
B
78%
19%
3%
[78, 80)
[75, 78)
[70, 75)
[65, 70)
B __
C+
C
D+
[61, 65) D
[58, 61) D __
[0, 58) F
Remarks: If you have any concerns or questions, please see me during my office hours
(scheduled or arranged) right away.
Tutors are available free of charge in Swart 113.
Ask a lot of questions in class.
Students are subject to disciplinary action for academic misconduct, which is in UWS 14.03,
Wisconsin Administrative Code.
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