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. Minimum Number of Instructional Minutes Per Semester
2250 minutes
IV. Prerequisites
Math Placement Test score of 7 or better or MATH103 (C or better)
Corequisites
None
V. Other Pertinent Information
A comprehensive final examination will be included in this course.
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. Learning Goals:

    Course Specific:
    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.
    3. apply matrices to problems in business and economics.
    4. solve systems of linear equations using algebraic and matrix techniques.
    5. solve linear programming problems using a graphical technique and using the simplex method.
    6. solve problems involving simple and compound interest.
    7. demonstrate understanding of exponential and logarithmic functions by solving equations involving logs and exponential functions.
    8. demonstrate understanding of the principles of counting by solving applications using these principles.
    9. demonstrate understanding of the concept of sample space by applying the basic rules of probability.

    Core Learning Goals:
    Category I:
    Math or Science:
    The student will be able to:
    1. develop the ability to analyze, interpret, and apply quantitative information.

    Core Learning Objectives:
    Category I:

    The student will be able to:
    1. accurately translate descriptive problems into mathematical formulas and solve them. (1)

    Category III:
    Critical Thinking/Problem Solving:
    The student will be able to:
    1. Demonstrate the understanding of solving problems by:
      1. recognizing the problem
      2. reviewing information about the problem
      3. developing plausible solutions
      4. evaluating the results

      These skills are developed in VII.B.1 and VII.B.3.
  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 Core Learning Goals:

    All Core Critical Thinking and Problem Solving, College Level Mathematics or Science, and Discipline-Specific Course Objectives will be assessed as follows:

    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 Students:

    Departmentally selected textbook. Details provided by the instructor of each course section. See Course format.
VIII. Teaching Methods Employed
Primary teaching methods are lecture, recitation, problem solving, and class discussion as appropriate.

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