MTH 1050 - Finite Mathematics (2024)

4 lecture hours 0 lab hours 4 credits Course Description
This course reviews and introduces some of the mathematical tools and techniques most widely used in business. Topics include rational expressions, exponents, functions and graphs, systems of linear equations and inequalities, matrices, linear programming, sets, counting techniques, probability, and Markov chains. The emphasis is on creating mathematical models of practical situations and applying these models to solve problems.
Prereq: Placement into MTH 1050
Note: MTH 1050 is only available to students in the Rader School of Business and UX programs.
This course meets the following Raider Core CLO Requirement: NoneCourse Learning Outcomes
Upon successful completion of this course, the student will be able to:

• Solve linear, quadratic, and rational equations algebraically
• Graph and solve linear inequalities
• Find the linear regression equation of a list of data points and make predictions using it
• Perform arithmetic operations on polynomials and rational expressions
• Factor quadratics, expressions with common factors, and some other special polynomials
• Apply laws of exponents and simplify exponential and radical expressions.
• Evaluate logarithmic expressions and apply laws of logarithms
• Solve exponential and logarithmic equations
• Identify the algebraic forms, graphs, and basic properties of polynomial, rational, exponential, and logarithmic functions
• Graph transformations of functions and identify transformations of a basic function from a graph
• Identify vertical and horizontal asymptotes and removable discontinuities of rational functions
• Apply understanding of functions to business applications such as finding the maximum or minimum for quantities which are related quadratically and performing break-even analysis
• Solve systems of linear equations by various methods; identify inconsistent and dependent systems
• Perform arithmetic operations and row operations on matrices
• Use Gauss-Jordan elimination on augmented matrices to solve systems of linear equations
• Compute the inverse of an invertible 2×2 or 3×3matrix
• Apply understanding of systems of linear equations and matrices to business problems such as inventory, production, and total cost
• Solve systems of linear inequalities
• Set up a linear programming problem, identifying an objective function with constraints, and interpret its solution in the original context
• Use a geometric approach to solve linear programming problems
• Use the simplex method to solve linear programming problems
• Describe sets using set notation
• Determine the cardinality of a set
• Determine whether two sets are equal
• Identify subsets, universal sets, the empty set, and finite and infinite sets
• Determine complements, intersections, and unions of sets
• Use sigma notation to describe and evaluate a finite series
• Solve counting problems using fundamental counting principles
• Compute the numbers of permutations and combinations of a collection of objects
• Determine the sample space of an experiment and identify events
• Calculate probabilities, including conditional probabilities
• Apply understanding of probability to solve business problems and interpret the results
• Identify and create transition matrices for given situations
• Find a stationary matrix for a given transition matrix
• Find absorbing states given a transition matrix
• Determine if a transition matrix is for an absorbing Markov chain
• Find the limiting matrix for an absorbing Markov chain
• Apply understanding of stationary matrices and Markov chains to solve business problems and interpret the results

Prerequisites by Topic

• High school algebra (solving equations, applying formulas, manipulating expressions involving variables, arithmetic, order of operations)
• Functions and graphs (notation, evaluating, the Cartesian coordinate system, plotting points, sketching plane curves, reading and interpreting graphs)
• Slope, intercepts, and equations of a line

Course Topics

• Linear equations and inequalities
• Linear regression
• Functions and graphs
• Polynomials and rational expressions and functions
• Exponents and radicals
• Quadratic equations and functions
• Transformations of functions
• Exponential and logarithmic expressions and functions
• Systems of linear equations and inequalities
• Matrices, matrix operations, and matrix equations
• Gauss-Jordan elimination
• Inverse of a matrix
• Linear programming
• The simplex method
• Sets
• Counting principles
• Permutations and combinations
• Basic probability
• Conditional probability
• Markov chains

Coordinator
Dr. Jonathan Cox
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