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Math 145 (formerly Math 155 ) Algebra Applications for Economics and Business
ALGEBRA APPLICATIONS FOR ECONOMICS AND BUSINESS
Math 145
COURSE GOALS/OBJECTIVES:
Applications of linear, quadratic, exponential, and logarithmic equations; functions and graphs; mathematics of finance; solution of linear systems using matrices; linear programming using the simplex method.
A graphing calculator is required.
Prerequisite:
Math 99 or equivalent with a grade of "C" or better.
COURSE CONTENT (revised Spring 2007)
2.1 Graphs
2.2 Slope and Equations of a Line
2.3 Applications of Linear Equations
2.4 Linear Inequalities
2.5 Polynomial and Rational Inequalities (using graphing calculator)
Review
EXAM 1
3.1 Functions
3.2 Graphs of Functions
3.3 Applications of Linear Functions
3.4 Quadratic Functions
3.5 Application of Quadratic Functions
3.6 Polynomial Functions
3.7 Rational Functions
Review
EXAM 2
4.1 Exponential Functions
4.2 Applications of Exponential Functions
4.3 Logarithmic Functions (solving log equations)
4.4 Applications of Logarithmic Functions (solving log and exponential equations)
Review
EXAM 3
5.1 Simple Interest and Discount
5.2 Compound Interest
5.3 Annuities
5.4 Present Value of an Annuity: Amortization
Review
EXAM 4
6.1 Systems of Linear Equations
6.2 The Gauss-Jordan Method
7.1 Systems of Linear Equations
7.2 Linear Programming
7.3 Application of Linear Programming
7.4 The Simplex Method: Maximization
7.5 Application of Maximization
Review
Exam 5
Review
Final Examination
Optional Topics:
Matrix Operations
Matrix Products and Inverses
Applications of Matrices
REQUIRED EVALUATION METHODS:
Written exams, quizzes, homework, class participation, group participation
WCC OUTCOMES:
Thinking:
Students will demonstrate a good understanding of functions in graph, numerical, and equation forms.
Students will analyze application problems and choose appropriate mathematical concepts to solve the problems.
Students will use a graphing calculator as a tool to solve problems recognizing both its capabilities and limitations.
Knowing:
Students will demonstrate knowledge of the vocabulary and notation for functions.
Students will strengthen algebra skills.
Students will apply financial formulas to solving problems.
Students will build on previously learned skills to develop concepts needed for logarithmic and exponential functions; linear programming and the simplex method.
Communicating:
Students will gain experience explaining their ideas to other students and listening for understanding.
Students will write up some problems carefully. The goal will be to include pertinent information so that the problem and solution can be understand by another student in the class.
TEXT BOOKS:
Margaret L. Lial and Thomas W. Hungerford
Mathematics with Applications 9th edition,
Addison-Wesley 2007.
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