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MTH 101-Mathematics For Business

Course Description (catalog):

Covers coordinate systems and graphs, matrices, linear systems and applications, topics in the mathematics of finance, elementary linear programming, set theory, counting techniques, permutations and combinations, introduction to probability. Emphasis is placed on techniques and applications.

Course Objectives:

This Course is designed to help the student:

 1. Develop adequate skills to construct and interpret graphs of functions and transformations, particularly linear and quadratic functions and apply these functions to some conventional business models.
 2. Understand and apply the basic mathematical formulas of finance in modern business applications.
 3. Write and solve linear programming models in two or more variables using both geometric and algebraic approaches.
 4. Understand the basics of probability theory and use the probabilistic techniques and procedures to solve some business oriented application problems.

Learning Outcomes:

After finishing this course a student must

1. Understand the definition of piecewise, linear, quadratic functions and their applications.
2. Understand simple interest and its application.
3. Understand compound interest and its applications.
4. Understand present and future value of annuity and how to differentiate between them.
5. Learn the applications of mathematics of finance in many practical business problems including mortgage and sinking fund problems.
6. Understand how to use augmented matrices to solve systems of linear equations.
7. Understand the subject of matrices and their applications in business problems.
8. Learn the geometric approach to solve linear programming problems.
9. Learn how to use simplex method to solve linear programming problems.
10. Learn the applications of linear programming in business problems.
11. Understand the basic principles of counting including the addition and multiplication principles.
12. Understand the subjects of permutations and combinations and their applications.
13. Learn basic principles of probability.

Assignments & Exams Policy:

Throughout this course, students will be given many homework assignments and quizzes, two midterm tests, and a comprehensive final exam

 •Although you are required to submit all homework problems on time, only few, randomly selected, problems will be graded. Late assignments, if and when accepted, will result in 20% deduction per day per assignment regardless of the reasons.
 •Quizzes'dates and material will be announced at least one lecture ahead of time. No make up quizzes will be given.
 •Tentative exam dates are shown in the table below. Refer to the syllabus to see the topics that will make up the material for each exam. With a valid written excuse and making immediate arrangements with the instructor, a missed exam might be replaced with the grade of the final exam and/or the average grade of all tests, quizzes and homework assignments.
 •A scientific (not financial) calculator is required for this course.

Remarks & Rules :

1. Attendance: It is the university policy that if a student misses 15% of class sessions ( equivalent to 7 lectures for SMW classes or 5 lectures for UT classes), he/she will be dropped from the course with an F grade.

2. Late attendance: Not only are you expected to be in class, but you are also expected to be there on time. Three (3) late attendances will count as one absence. Late is defined as follows: showing up to class after the instructor has finished calling the class roster, and within the first 10 minutes of the lecture. Showing up more than 10 minutes late to the lecture counts as an absence.

3. Academic integrity: You are expected to submit your own work. Copying, cheating or plagiarism, if detected, will result in an F grade in the course for all who are involved (i.e. it does not matter if somebody copied your homework, project etc., you are guilty as well). In addition, those involved may be reported to the administration for disciplinary action.

4. Grade Adjustments: Once you get your exam papers back, make sure to check that the totals are correct, and that every problem has been graded. If you feel that your paper was not fairly corrected, you must inform your instructor as soon as you receive your papers back and before you leave the classroom. We will not look at any paper once the student steps out of the classroom

 Weekly Schedule

# of Weeks Sections Material
3 1.1, 1.2, 1.3 Review, Elementary Functions, Linear Functions
1.4, 2.2, 2.3 Quadratic Functions, Exponential Functions , Logarithmic Functions
3 3.1, 3.2 Simple Interest, Compound Interest
3.3, 3.4 Future Value of an Annuity; Sinking Funds, Present Value of Annuity; Amortization
2 1/2 Review, 4.1 Review, Systems of Linear Equations in Two Variables
4.2, 4.3 Matrices, Gauss Jordan Eliminations
3 5.1, 5.2 Systems of Linear Inequalities in Two Variables , Linear Programming-A Geometric Approach
5.3, 5.4, 5.5 Introduction to Simplex Method, The Simplex Method
2 6.1, 6.2 Basic Counting Principles, Permutations and Combinations
1 1/2 6.3 Sample Space, Events, and Probability
6.4 Union, Intersection, and Complement of Events; Odds in Favor and Odds against
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