Math 1324 Mathematics for Business & Social Sciences
Applications of common algebraic functions, including polynomial, exponential, logarithmic, and rational, to problems in business, economics, and the social sciences are addressed. The applications include mathematics of finance, including simple and compound interest and annuities; systems of linear equations; matrices; linear programming; and probability, including expected value.
Course Learning Outcomes
Apply elementary functions, including linear, quadratic, polynomial, rational, logarithmic, and exponential functions to solving real-world problems.
Solve mathematics of finance problems, including the computation of interest, annuities, and amortization of loans.
Apply basic matrix operations, including linear programming methods, to solve application problems.
Demonstrate fundamental probability techniques and application of those techniques, including expected value, to solve problems.
Apply matrix skills and probability analyses to model applications to solve real-world problems.
Class may be taken with concurrent enrollment in Math 0324
Lial, Greenwell and Ritchey; Finite Mathematics & Calculus with Applications, 10th ed.
Required: Students must buy an access code to MyMathLab, an online course management system which includes a complete eBook; students will first need a Course ID provided by the instructor in order to register; online purchase of MyMathLab access at www.mymathlab.com. ISBN for hard copies of MyMathLab access codes: 9780321199911 Hardbound Text (optional): 9780321979407 Hardbound Text + Free MyMathLab Access: 9780133981070
Calculators may be required for some assignments/assessments at the discrection of the Instructor. Refer to class syllabus for details.
Neither cell phones nor PDA’s can be used as calculators. Calculators may be cleared before tests.
Chapter 2. Systems of Linear Equations and Matrices
2.1 Solution of Linear Systems by the Echelon Method
2.2 Solution of Linear Systems by the Gauss-Jordan Method
2.3 Addition and Subtraction of Matrices
2.4 Multiplication of Matrices
Chapter 3. Linear Programming: The Graphical Method
3.1 Graphing Linear Inequalities
3.2 Solving Linear Programming Problems Graphically
3.3 Applications of Linear Programming
Chapter 4. Linear Programming: The Simplex Method
4.1 Slack Variables and the Pivot
4.2 Maximization Problems
4.3 Minimization Problems; Duality
Chapter 5. Mathematics of Finance
5.1 Simple and Compound Interest
5.2 Future Value of an Annuity
5.3 Present Value of an Annuity; Amortization
Chapter 7. Sets and Probability
7.2 Applications of Venn Diagrams (optional)
7.3 Introduction to Probability
7.4 Basic Concepts of Probability
7.5 Conditional Probability; Independent Events
Chapter 8. Counting Principles; Further Probability Topics
8.1 The Multiplication Principle; Permutations
8.3 Probability Applications of Counting Principles
8.4 Binomial Probability
8.5 Probability Distributions; Expected Value
Chapter 10. Nonlinear Functions
10.2 Quadratic Functions (focus on the vertex formula)
10.3 Polynomial and Rational Functions (focus on cost benefit analysis)