MATH117 Finite Mathematics for Business

Department of Science, Technology, Engineering & Mathematics: Mathematics

I. Course Number and Title
MATH117 Finite Mathematics for Business
II. Number of Credits
3 credits
III. Number of Instructional Minutes
IV. Prerequisites
Math Placement Test score of 7 or better or MATH103 (C or better)
V. Other Pertinent Information

A comprehensive final examination will be included in this course.

This course meets the General Education requirement for Quantitative Literacy.

VI. Catalog Course Description
This is primarily for students of accounting, business, economics, management, data processing, technologies, and related fields. Topics include linear and quadratic models, matrix theory, linear systems and linear programming, probability, and expected value.
VII. Required Course Content and Direction
  1. Course Learning Goals

    The student will be able to:

    1. solve linear and quadratic equations in one variable and apply these equations in mathematical modeling;
    2. perform basic operations on matrices, apply matrices to problems in business and economics, and solve systems of linear equations using algebraic and matrix techniques;
    3. solve linear programming problems, problems involving simple and compound interest, logarithmic equations, and exponential equations using appropriate techniques;
    4. solve problems using the principles of counting and basic rules of probability; and
    5. accurately translate descriptive problems into mathematical formulas and solve them [Quantitative Literacy].
  2. Planned Sequence of Topics and/or Learning Activities

    The following is a list of the minimum amount of course material covered by the instructor. Accompanying each topic is an approximate number of lessons required to study the topic.

    1. Linear and Quadratic Models (6 lessons)
      1. Slope and equation of a line
      2. Linear equations in one unknown
      3. Linear functions and their graphs
      4. Linear mathematical models
      5. Quadratic functions and models
    2. Matrix Theory (7 lessons)
      1. Basic operations on matrices
      2. Solving systems of linear equations by using the Gauss-Jordan method
      3. Multiplication of matrices
      4. Inverses of matrices
      5. Solving matrix equations
      6. Applications of matrices
    3. Linear Programming (6 lessons)
      1. Graphing a system of linear inequalities
      2. Slack variables and pivot operations
      3. Solving a linear programming problem using the graphical method
      4. Solving a linear programming problem using the simplex method
    4. Applications of Finance (3 lessons)
      1. Simple interest
      2. Compound interest
    5. Exponential and Logarithmic Functions (6 lessons)
      1. Exponential functions and their graphs
      2. Logarithmic functions and their graphs
      3. Properties of logarithms
      4. Applying logarithms to solving equations
    6. Probability and Counting (7 lessons)
      1. Tree diagrams and the fundamental principal of counting
      2. Permutations and combinations
      3. Sample spaces and probability of an event
      4. Rules of probability (addition and multiplication rule)
      5. Conditional probability
      6. Expected value
  3. Assessment Methods for Course Learning Goals

    The student will apply mathematical concepts and principles to identify and solve problems presented through informal assessment, such as oral communication among students and between teacher and students and, for the core, formal assessment using open-ended questions reflecting theoretical and applied situations.
  4. Reference, Resource, or Learning Materials to be used by Student:

    Departmentally-selected textbook. Details provided by the instructor of each course section. See course syllabus.

Review/Approval Date - 3/06; Core Goals/Objectives added 11/04; New Core 8/2015