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. IAI: M1 906.
Prerequisite(s)
MATH 1814 with a grade of C or better or appropriate assessment score - Must be completed prior to taking this course.
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.
Topical Outline
1. Slopes and equations of lines
2. The least squares line
3. Linear functions, linear systems and the Echelon method
4. Linear systems and the Gauss-Jordan method
5. Adding and subtracting matrices
6. Multiplication of matrices and matrix inverses
7. Solving linear systems using a matrix equation
8. Input-output models
9. Graphing linear inequalities
10. Solving linear programming problems graphically
11. Applications of linear programming
12. Slack variables and the pivot
13. Solving maximization problems using the simplex method
14. Minimization problems
15. Duality
16. Nonstandard problems
17. Simple and compound interest
18. Future value of an annuity
19. Present value of an annuity
20. Amortization
21. Sets and applications of Venn diagrams
22. Basic concepts of probability
23. Conditional probability and independent events
24. Baye’s Theorem
25. Counting principles and permutations
26. Permutations and combinations
27. Binomial probability
28. Probability distributions and expected value
2. The least squares line
3. Linear functions, linear systems and the Echelon method
4. Linear systems and the Gauss-Jordan method
5. Adding and subtracting matrices
6. Multiplication of matrices and matrix inverses
7. Solving linear systems using a matrix equation
8. Input-output models
9. Graphing linear inequalities
10. Solving linear programming problems graphically
11. Applications of linear programming
12. Slack variables and the pivot
13. Solving maximization problems using the simplex method
14. Minimization problems
15. Duality
16. Nonstandard problems
17. Simple and compound interest
18. Future value of an annuity
19. Present value of an annuity
20. Amortization
21. Sets and applications of Venn diagrams
22. Basic concepts of probability
23. Conditional probability and independent events
24. Baye’s Theorem
25. Counting principles and permutations
26. Permutations and combinations
27. Binomial probability
28. Probability distributions and expected value