MAT1021
Quantitative Methods for Business I
The course presents the application of common algebraic functions (including polynomial, exponential, logarithmic, and rational) to problems in business, economics, and the social sciences. 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.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Graphing on the coordinate plane.
- Applying polynomials, rational expressions, exponents, and radicals.
- Solving systems of equations.
- Utilizing linear, quadratic, exponential and logarithmic functions.
- Designing linear functions for business operations.
- Graphically analyzing linear programming problems.
- Maximizing and minimizing linear systems.
- Identifying key steps in Gauss-Jordan elimination.
- Utilizing laws of matrix algebra for problem solving.
- Performing mathematical operations on matrices.
- Illustrating identity and inverse matrix concepts.
- Constructing an input/output matrix.
- Designing linear programming models.
- Expressing analytical thinking, orally and in writing, and applying that knowledge to other disciplines and to real-world situations.
- Applying linear programming methods to solve application problems.
- Applying probability analyses to model applications to solve real-world problems.
- Solving mathematics of finance problems, including the computation of interest, annuities, and amortization of loans.
- Demonstrating fundamental probability techniques and application of those techniques, including expected values, to solve problems.