
An equation is two algebraic expressions joined by an equal sign, with a left-hand side and a right-hand side, including identity, conditional equations, false statements, and the degree.
Discover how sequences operate in business, finance, and economics, define a sequence and its nth term, and classify finite and infinite sequences with examples like even numbers, doubling, and squares.
Explore the types of sequences, including arithmetic, geometric, and harmonic, with definitions of common difference and common ratio, and learn practical applications in finance and growth/decay.
Apply arithmetic series concepts and sum formula to problems like bike depreciation over ten years, first installment in a decreasing plan, and total profit over 60 months rising by 5,000.
Derives the sum formula for a geometric series with first term a1 and common ratio r, and presents formulas for S_n across cases |r|<1, |r|>1, and r=1.
Apply the infinite geometric series formula to find sums, using examples like 1 + 1/3 + 1/9 + ... and 0.23 + 0.0023 + ...
Explore how interest is reinvested in compound interest to grow the principal and compute the compound amount using a $1000, 10% annual rate over three years.
Learn to calculate the future value of an ordinary annuity by summing end-of-period payments, illustrated by investing $1,000 yearly for five years at 10%.
Apply the present value of an ordinary annuity to two examples: computing a laptop's cash price from monthly payments and estimating loan payoff years.
Welcome to Applied Business Mathematics. As we all know that Mathematics is the mother of all sciences even social sciences. In this course, Mathematics is a key role in the education of students belonging to Management Sciences, Business, Economics, and the Social Sciences. This course is appropriate for all levels of management, business, and economics students. This course focuses on the following topics:
Study concept of Linear Equation and its applications in different business and economic models.
Study System of Linear Equations along with applications in daily life with the help of different examples.
Linear Inequality along with their solutions on the number line with various examples.
Using MS Excel and Python to solve System of Linear Equation with application in different business and management models.
Solve System of Linear Equations using Matrices techniques like Gauss Jordan Method and Gaussian Elimination Method.
Concept of Mathematical Function along with concepts of Linear Cost Function, Linear Revenue Functions, Linear Profit Functions, Break-Even Models.
In the Finance Mathematics section, we will focus on Simple and Compound Interest, Annuities, Cost-Benefit Analysis, and some more useful concepts, and compare the difference between Simple and Compound Interest with the help of graphs in Python.
An introduction to Linear Programming with different techniques like Simplex Method, Big-M Method, Dual Method along with some graphical techniques.