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Math 1324 Mathematics for Business & Social Sciences

Course Outline

Catalog Description

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

  1. Apply elementary functions, including linear, quadratic, polynomial, rational, logarithmic, and exponential functions to solving real-world problems.
  2. Solve mathematics of finance problems, including the computation of interest, annuities, and amortization of loans.
  3. Apply basic matrix operations, including linear programming methods, to solve application problems.
  4. Demonstrate fundamental probability techniques and application of those techniques, including expected value, to solve problems.
  5. Apply matrix skills and probability analyses to model applications to solve real-world problems.

Contact Hour Information

Credit Hours: 3
Weekly Lecture Hours: 3
Weekly Lab Hours: 0
Weekly External Hours: 0
Total Contact Hours: 48

Prerequisites

  • MATH 0310 or placement by testing
  • ENGL 0305 or higher level course (ENGL 1301) or placement by testing

Corequisite

ENGL 0309

Getting Started Assignments

Review exercises in MyMathLab that can be copied into your own course. Copy three “getting started” assignments from Chapter 1 from jezek11323

Required Materials

Textbook:

Lial, Greenwell and Ritchey; Finite Mathematics & Calculus with Applications, 9th 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; hard copies of access codes available with ISBN: 9780558357603
Hardbound Text (optional): 9780321749086
Hardbound Text + Free MyMathLab Access: 9781256636618

Calculator:

Graphing Calculator required. TI 83, TI 84 or TI 86 series calculators recommended. Calculators capable of symbolic manipulation will not be allowed on tests. Examples include, but are not limited to, TI 89, TI 92, and Nspire CAS models and HP 48 models. Neither cell phones nor PDA’s can be used as calculators. Calculators may be cleared before tests.

Textbook Sections

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

7.1 Sets
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
8.2 Combinations
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)

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