Math Methods for Business

Course title and number: Math Methods for Business, 15658

Time and place MoWe 5:30pm-6:45pm, OV 025

Instructor: William Watkins
Office hours: Mon in Math 103L labs (JR221) 4:00-4:50, Tue 2:00-2:50 (SN414), Wed 2:30-
3:20 (SN414).
Office: SN 414

Textbook: College Mathematics for Business, Economics, Life Sciences and Social Sci-
ences, Custom Edition for California State University, Northridge, Barnett, Ziegler, Byleen,
Pearson-Prentice Hall

Math 103L

The lab for this course, Math 103L, will be taught by Alexander Bojkov in JR 221 at the
following times:
Time Day Class Number
3:30-4:20pm Monday 15907
4:30-5:20pm Monday 15908
7:00-7:50pm Monday 15909.

The purpose of Math 103L is to help you study the material and pass the course. The
Math 103L Workbook is a collection of problems like the ones you will find on the final for
Math 103. Most of your time in the lab will be spent working through the problems in the
Workbook. You may want to form study groups in the lab for this purpose. Mr. Bojkov
and a student assistant, who recently completed Math 103 as a business major, are there
to help you overcome any difficulties you may encounter. But they are not there to work
the problems for you. Instead they will try to guide you to a better understanding of the
material so you can work the problems by yourself.

Math 103 tutoring: TBA

Grading: Your grade will be computed from the homework, mid-term exams, short quizzes,
and the final. There is a total of 300 points possible:

120 points: best three out of four midterms
40 points: quizzes
40 points: homework
100 points: final exam.

Midterm exams: There will be four mid- term exams , each worth 40 points. They are given
in the Math 103 lecture starting at about 6:00 on the following dates:

Only the best three of the four exams will count for your grade. If you miss a midterm exam,
then that will be the one that does not count. No makeup exams.

Quizzes: Short quizzes will be given on some of the lecture days. I will announce a quiz and
the topic for the quiz in the lecture and the quiz will be given at the beginning of the next
lecture. I expect there to be 12 to 15 quizzes altogether. You can miss two of them without
penalty. If you take all (or all but one) of the quizzes, I will not count the two (one) lowest
scores. If you miss more than two quizzes, then those will be counted as zeros.

Final exam: The final exam is given on Saturday, May 9, from 11:30 to 1:30. You must
take the final at this time. It is a departmental final; no calculators, notes, or books are
permitted.

Homework: Assignments will be done on a computerized homework program called WeB-
WorK. Your password is your nine digit student ID number (if yours is not nine digits then add
zeros at the beginning to make it 9 digits). The system is very easy to use, but you may want
to read this short introduction to WeBWorK.  I recommend that you print
out a hardcopy of your homework and work the problems before going online to enter your
answers. You should expect to spend about five hours outside of class, and in the Math 103L
laboratory per week, working on homework and the problems in the Math 103L Workbook.

Sections to be covered:

Sections Topic
1.1-2 Linear equations and their graphs
2.1 Functions
2.2 Elementary functions: graphs and transformations
2.3 Quadratic, polynomial and rational functions (only rational functions of the form (ax+b)/(cx+d)
2.4-5 Exponential and Logarithmic functions
3.1-2 Simple interest , compound interest, and continuously compounded interest
10.1-7 Limits, continuity, derivative, sum , product, quotient, power rules, applications
11.7 Elasticity
12.1 Absolute max/min
12.6 Optimization
4.1-4 Solving systems of equations and matrices (at least this far)

Catlog description: Prerequisites: Passing score on or exemption from the Entry Level
Mathematics Examination (ELM), or credit in Math 093 and a passing score on the Mathe-
matics Placement Test (MPT). Concepts and applications of algebra and calculus to business.
Topics include functions, systems of equations, matrices, the derivative and business-related
topics in calculus. (Available for General Education, Basic Skills; Mathematics).

Course topics:

1. Functions: Definition and concept; graphs of functions and equations; Linear, quadratic,
square and cubic root , general polynomial, absolute value, rational, exponential, logarithmic.
2. Business applications of the above functions: cost, price-demand, revenue, pro t.
3. Mathematics of accounting and finance. Simple interest, compound interest, continuously
compounded interest.
4. The derivative: Limits, continuity, difference equations , computing the derivative with
the limit, computing derivative of the above functions and their compositions.
5. The derivative and applications to business: Maximum pro t is realized when marginal
revenue equals marginal costs, elasticity of demand and connection to revenue.
6. Systems of linear equations and applications.
7. Matrices and equations.

Measurable Course Objectives: Upon successful completion of the course students will
be able to:
i. Compute with Linear, quadratic, rational functions. Including solving equations involving
such functions.
ii. Prepare a well-scaled graph of a one-variable function
iii. Find the equation of a linear function from two ordered pairs
iv. Compute with simple interest, compound interest, and continuously compounded interest
models.
v. Evaluate exponential functions and be able to solve equations with exponential expressions
using logarithms
vi. Find the derivative of a polynomial function and evaluate marginal revenue/cost/pro t
for a revenue/cost/pro t function
vii. Explain verbally and in writing why maximum pro t is realized when marginal revenue
equals marginal costs.
viii. Use derivatives to find local maximum and local minimum points
ix. Solve a system of linear equations using algebraic (elimination) methods

GE-SLOs (General Education Student Learning Outcomes):

1. Represent, understand, and explain mathematical information symbolically , graphically,
numerically, and verbally;
2. Develop mathematical models of real-world situations and explain the assumptions and
limitations of those models;
3. Use models to make predictions/draw conclusions/check whether results are reason-
able/ find optimal results; using technology when necessary and appropriate;
4. Demonstrate an understanding of the nature of mathematical reasoning including the
ability to prove simple results and/or make statistical inferences

Assessment of GE-SLOs (General Education Student Learning Outcomes):

SLO 1 will be assessed through traditional testing and the common final exam.

SLOs 2 and 3 will be assessed by evaluating students performance on specially designed
word problems that will be imbedded in all midterms and the final exam. The imbedded
problems will be consistent from semester to semester which will allow us to do a long term
assessment of the SLOs.

SLO 4 will be assessed by students performance on at least one exam problem.