Course Description
Methods from linear algebra and probability are developed and applied to problems in business and the social sciences. Topics include word problems, functions, graphs, systems of equations, matrices, linear programming, sets, probability, counting techniques, finite geometric series, and annuities.
Prerequisite(s)
MATH 1814 with a grade of C or better or appropriate assessment score
IAI Number
M1-906
IAI Title
Finite Mathematics
Topical Outline
- Slopes and equations of lines
- The least squares line
- Linear functions, linear systems and the Echelon method
- Linear systems and the Gauss-Jordan method
- Adding and subtracting matrices
- Multiplication of matrices and matrix inverses
- Solving linear systems using a matrix equation
- Input-output models
- Graphing linear inequalities
- Solving linear programming problems graphically
- Applications of linear programming
- Slack variables and the pivot
- Solving maximization problems using the simplex method
- Minimization problems
- Duality
- Nonstandard problems
- Simple and compound interest
- Future value of an annuity
- Present value of an annuity
- Amortization
- Sets and applications of Venn diagrams
- Basic concepts of probability
- Conditional probability and independent events
- Baye’s Theorem
- Counting principles and permutations
- Permutations and combinations
- Binomial probability
- Probability distributions and expected value
At the end of this course, students will be able to:
- Apply linear functions to supply and demand and cost analysis problems.
- Find the least squares line for a set of data using a graphing utility.
- Solve a system of linear equations using matrices.
- Solve a linear programming problem using graphing.
- Solve a linear programming problem using the simplex method.
- Solve interest and annuity problems.
- Apply various methods to find probabilities.