Mathematics for Business Analysis I Fall 2007

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67‐204 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: 424‐2305

Email:

[email protected]

Web:

http://www.uwosh.edu/faculty_staff/ramanaya/

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.

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Prerequisites:

67‐103 or 67‐108 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)

400 74.07%

Quizzes (each 10 points)

100 18.52%

Attendance, Class participation and worksheets

40 7.41%

Total

540 100.00%

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.

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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(%)

90

85

80

75

70

60 <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!!

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Tentative Schedule

Date

Material

In class

Homework

W

5-Sep

1-1 Linear Equations and Inequalities

R

6-Sep

1-1 Linear Equations and Inequalities/1-2 graphs and _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

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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