MAT_201

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MAT_201

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HELP Bachelor of Business (Hons) Year 2

Semester 2, 2016

Subject:

MAT 201

Business Mathematics

Telephone: 03- 2716 2000

Fax:

03- 2093 5311

Email: harikrishnan.kk@help.edu.my

Consultation:

By appointment

PRE-REQUISITE(S)

No pre-requisite is required.

RATIONALE:

This unit is an introduction to topics such as calculus, linear algebra and optimisation for

students studying in the areas of Business, Economics, Banking, Finance, Management

and Accounting. This subject explores various quantitative methods, which are of

particular relevance to those involved in decision-making and analysis. The course

describes situations in which mathematical arguments can be used in problem solving.

The primary objective is to provide students the mathematical framework and a more

scientific approach of modelling business and economic behaviour.

SYNOPSIS:

Students of this course are introduced to various mathematical tools. Topics include basic

Quantitative Methods, Mathematical Functions, Vectors and Matrices, Differentiation,

Integration, Optimisation, Partial Differentiation, Linear Programming, Sequences and

Series. Students are also exposed to Business Mathematics Techniques covering areas

such as Simple and Compound Interest, Present value, Discounting, Depreciation and

Amortisation.

OBJECTIVES:

On successful completion of this unit student will be able to:

1. Understand and use polynomial functions;

2. Find the domain and range of functions;

3. Sketch the graphs of quadratic functions and its applications in profit functions,

demand and supply functions;

4. Solve various types of equations and inequalities;

5. Understand and perform vectors addition and scale multiplication;

6. Solve a system of linear equations using Cramers rule, matrix inversion and row

operations;

7. Differentiate algebraic, exponential, and logarithmic functions using various rules

of differentiation;

8. Differentiate functions implicitly ;

9. Use first or second order derivatives to check the nature of turning or stationary

points of a function;

10. Differentiate functions of several variables;

11. Optimise univariate and multivariate functions (with and without constraint);

12. Apply sequences and series in management and finance;

13. Apply mathematical tools in the following areas of: computing interest, present

value, discount, depreciation and amortisation;

14. Optimise functions using a linear programming technique;

15. Integrate functions using various methods.

TOPICS:

Description

1. Basic Quantitative Methods

a) Arithmetic Operations

b) Terminology Notations

c) Simple Algebra

d) Equations

e) Simple Manipulation

f) Indices

g) Reciprocals

2.

Mathematical Functions

a) Relationships in Sets

b) Relations: Definitions and Notations

c) Functions: Definitions and Notations

d) Different types of Functions

e) Graphing a Function

f) Applications of Functions to Business and Economics

3.

a) Cramers rule

b) Matrix inversion

c) Gauss Jordan elimination

4. Differentiation

a) Rules of Differentiation

b) Implicit Differentiation

c) Applications of Differential Calculus

5. Multivariate Differentiation

a) Partial derivatives

b) Stationary points

c) Maximum and minimum

d) Economics and Business Applications

6. Optimisation

a) Without Constraint

b) With Equality Constraint

c) With Inequality Constraint

7. Integration

a) General Rules of Integration

b) Methods of Integration

8. Sequence and Series

a) Sequence

b) Series

c) Arithmetic Progression

d) Geometric Progression

9. Business Mathematics

a) Simple and Compound Interest

b) Discounting and Present value

c) Depreciation and Amortisation

10. Linear Programming

Main Text

Jacques, I, (2006), Mathematics for Economics and Business, 7th ed, Addison- Wesley

Publishing Co.

Preference Texts

Anthony, M. & Biggs, N., (1996), Mathematics for Economics and Finance Methods

and Modelling, Cambridge University Press.

Haeussler, E.F.Jr. and Paul, R.S., (2005), Introductory Mathematical Analysis for

Business, Economics for Life and Social Sciences, 11th ed., Prentice Hall Editions.

Department

Lecturer

Week

: Business Studies

: Dr K Harikrishnan

Subject Title : Business Mathematics

Topics

Reference

Chapter 1

Chapter 2

Quadratic equation and applications in Economics

and business, Inequalities, Indices and Logarithm

Arithmetic progression and geometric progression. Chapter 3

Simple Interest, Compound Interest and Sinking

fund.

Present value, discounting and depreciation.

Investment appraisal, deferred annuity

amortization

Chapter 3

and

Cramers rule and row reduction method

Chapter 7

Chapter 7

sensitivity analysis

Differentiation, rules of differentiation, exponential Chapter 4

and natural logarithm function.

Elasticity of demand and supply, marginal cost and Chapter 4

revenue. Optimization of economic functions.

BREAK

Chapter 5

Unconstrained and constrained optimization and

Lagrange multipliers

Indefinite and Definite Integration

Chapter 6

Chapter 6

producers surplus

8 9

FINAL EXAMINATION

ASSESSMENT:

There are 2 assessment items for this subject.

Assessment Items

Value

Due Date

1. Test

30%

Week 4 or 5 **

2. Final Examination

70%

August 2016**

REQUIREMENTS:

To gain a pass in this subject, students must:

Achieve a passing grade in the final examination i.e. score a minimum of 35 marks

out of 70 marks if there is an examination for this subject.

Attempt ALL areas of assessment; and achieve a total result of 50% or better

overall.

** - Please check on the notice board or My Acel for the actual date. HELP

University reserves the right to make any changes to the above where appropriate.

ACADEMIC INTEGRITY

Honesty and Responsibility

Academic integrity is an important tenet for HELP University. In pursuit of the highest

standards of academic integrity, the Department of Business Studies holds it students to

the highest ethical standards defined by the Rules and Regulations section of the

Academic Handbook. All students at the Department of Business Studies are subjected

to and are bound by the Student Academic Misconduct Rule to assure academic honesty.

Students are required to sign a pledge on the assignment cover sheet before submitting

your assignments to the Administration Office of the Faculty of Business, Economics &

Accounting.

What is Plagiarism?

Plagiarism is academic dishonesty or academic theft, and it is a serious academic offence.

Plagiarism includes, but is not limited to, the followings:

1. quote, paraphrase or summarize someone elses ideas, theories or data, in whole

or in part, without appropriate acknowledgement

2. borrow ideas, opinion or words, in whole or in part, from other sources without

properly crediting the author(s)

3. use any facts, statistics, diagrams or graphs, in whole or in part, without

acknowledging the source clearly

4. claim or imply original authorship of someone elses ideas, theories or data, in

whole or in part, as your own

5. employ or allow someone to help to revise, amend or write your work and pass

off as your own original work

6. collaborate with or allow other students to copy your work

7. draw on sources more than what you have acknowledged by citations

While a student is not discouraged to discuss an assignment with his/her friends or

classmates, the work he/she submits must be done by the student alone. If a student shares

his/her assignment with other students and they plagiarize it, the student is as guilty as

those students who plagiarized his/her assignment. All parties to plagiarism are

considered equally guilty. Under no circumstances should a student be involved in

collusion with other students unless he/she is permitted to work on an assignment jointly

by the lecturer/tutor. If a student is unsure what constitutes plagiarism, he/she is obliged

to consult the lecturer/tutor on the matter before submission of his/her assignment.

When and How to Reference?

Knowing when and how to cite is a students responsibility. If he/she is in doubt or need

more help on this matter, the student may consult the lecturer/tutor. The following list

comprises some of the sources a student will need to reference. The list is by no means

exhaustive, but simply consists of the most common sources used by students to complete

their work.

1. Books

2. Chapters in books

7

3.

4.

5.

6.

7.

8.

Journal articles

Conference papers

Newspaper articles

Magazines

Websites

Study guide

1. When he/she quotes two or more words verbatim, or even one word if it is used

in a way that is unique to the source

2. When he/she introduce facts that he/she have found in a source

3. When he/she paraphrase or summarize ideas, interpretations, or conclusions that

he/she find in a source

4. When he/she introduce information that is not common knowledge or that may

be considered common knowledge in your field, but the reader may not know it

5. When he/she borrow the plan or structure of a larger section of a sources

argument (for example, using a theory from a source and analyzing the same

three case studies that the source uses)

6. When he/she build on anothers method found either in a source or from

collaborative work in a lab

7. When he/she build on anothers program in writing computer code or on a notcommonly-known algorithm

8. When he/she collaborate with others in producing knowledge

In general, a referencing system requires two parts:

1. In-text citations

This is information about a source within the text of an assignment.

2. List of references

This is a list of all sources a student has used to research his/her assignment. It is

alphabetically arranged by author surname and appears immediately after the last

page of an assignment.

Different faculties or departments may have different requirement on how referencing

for an assignment should be done. The various formats used for in-text citations and list

of references are available in the following websites:

1. Harvard System (http://www.adelaide.edu.au/library/guide/gen/harvard.html)

2. Chicago Style (http://www.chicagomanualofstyle.org/index.html)

3. American Psychological Association or APA Style (http://www.apastyle.org)

4. Modern Language Association of America or MLA Style (http://www.mla.org)

Once a student has selected a referencing style for his/her assignment, he/she must follow

the same style consistently throughout the assignment. We strongly suggest that the

student consults the lecturer/tutor about which method to use before submission of

his/her assignment.

When a lecturer/tutor encounters a possible case of plagiarism, the lecturer/tutor shall

report the matter to the Head of the Department, who then initiates an investigation on

the matter. The following procedures would be carried out:

1. The lecturer/tutor shall provide evidence that substantiates an academic offence

has occurred. The following documentations must be ready prior to reporting of

alleged plagiarism:

a. Copy of the alleged plagiarized assignment

b. Copy of the source material (e.g. articles, websites, newspaper, etc.)

c. Report of plagiarism

d. Any other information that would support the claim of plagiarism

2. If the evidence warrants an accusation of academic offence, the Head of

Department shall establish a Board of Inquiry comprising 3 academic staff. The

Department shall provide all necessary documentations, including report on prior

academic offences if applicable, to the Board of Inquiry.

3. The Board of Inquiry shall put the matter to the student in writing and give

him/her an opportunity to respond to the accusation within 3 working days.

4. The student will be required to attend a meeting with the Board of Inquiry. After

meeting the student, the Board of Inquiry shall decide whether or not the alleged

plagiarism has occurred. The following documentations shall be submitted to the

Head of Department at the end of the meeting:

a. Findings of the investigation

b. Recommended action(s) to be taken or imposed

5. The Head of Department shall review the Board of Inquirys report with

supporting evidence and shall decide on an appropriate action(s) based on the

recommendation of the Board of Inquiry.

6. The decision of the Head of Department shall be put in writing to the student.

Copies of all documentations will be retained in the Department.

7. If the student feels that he/she has been unfairly accused or treated, the student

may appeal to the Head of Department within 5 working days.

8. The Head of Department shall review the appeal and the final decision will be

communicated to the student in writing and a copy will be kept with the

Department. Once a determination of plagiarism and penalty has been made by

the Head of Department, the investigative process will be deemed to have ended

and the student will not be allowed to appeal.

Possible penalties for plagiarism range from mark reduction for the assignment to

expulsion from the University. The student will not be allowed to make up the

assignment. If plagiarism has been found to have occurred, the Department will take

action(s) as determined by the forms of plagiarism implicated:

1. Complete plagiarism

Verbatim copying another persons work without acknowledgement

1st offence : A grade of F in the subject and a warning letter will be

issued

nd

2 offence : Expulsion from the University at the discretion of the Head

of Department

2. Substantial plagiarism

Near-verbatim copying another persons work by simply altering the order of the

sentences or the format of presentation or by changing a few words or phrases

without acknowledgement.

1st offence

issued

nd

2 offence : A grade of F in the subject and a warning letter will be

issued

3rd offence : Expulsion from the University at the discretion of the Head

of Department

3. Minimal plagiarism

Acknowledgement is made but paraphrasing by changing and/or eliminating

some words

1st offence : Deduction of 50% of available marks on the assignment and

a warning letter will be issued

nd

2 offence : A grade of F in the subject and a warning letter will be

issued

3rd offence : Expulsion from the University at the discretion of the Head

of Department

4. Unintentional plagiarism

Insufficient acknowledgement by not applying citation or quotation marks

correctly

1st offence : Deduction of up to 50% of available marks on the assignment

and a warning letter will be issued

nd

2 offence : A grade of F in the subject and a warning letter will be

issued

rd

3 offence : Expulsion from the University at the discretion of the Head

of Department

Pleading ignorance or unintentional plagiarism does not constitute valid reasons for

plagiarism and will not avoid the penalties from being imposed. Excuses for acts of

plagiarism such as the following, but not limited to, will not be entertained:

1. I dont have time to do the assignment

2. I have too many assignments due on the same day

3. I dont know, I really didnt do it

4. I am not aware

5. I dont understand what plagiarism means

6. I have no intention to plagiarize

7. I forgot to cite the reference

8. I forgot to include the bibliography

9. My English is not good

10. My lecturer/tutor did not explain to me

11. In my country, it is alright to copy someone elses work

12. My friend copied my assignment when I let him/her to look at my assignment

13. My friend copied my assignment when I allow him/her to use my laptop

14. I did my assignment in the computer lab, someone must have copied my work

15. I asked my friend to submit my assignment and he/she copied my work

16. I discussed my assignment with my friends, so our answers are the same/similar

17. Even though I do not have in-text citation but I have bibliography/reference list

Students should be reminded that it is their responsibilities to take due care throughout

their written work to effectively reference or cite when they use others ideas from any

source.

10

SEMESTER X, 20XX

SAMPLE FINAL EXAMINATION

Subject Code

MAT201

Subject Name

BUSINESS MATHEMATICS

This examination carries 70% of the total assessment for this subject.

Examiner(s)

MR ABC

Day

Date

Moderator(s)

MR XYZ

Time

Time allowed :

Reading 10 MINUTES

Writing 3 HOURS

INSTRUCTION(S):

1. This examination consists of SIX (6) questions:

Students are required to answer any FIVE (5) questions in the answer book provided.

2. Writing on the examination answer book is NOT permitted during reading time.

3. This is a CLOSED BOOK examination.

4. Students are NOT permitted to retain this examination paper.

5. Only Non-Programmable calculators are allowed to be used.

6. Students MUST pass this examination in order to pass the subject.

(This examination paper consists of 6 questions in XX printed pages, including cover page)

11

Question 1

(a)

= 200 3

= 2 + 60

where , , denotes price, quantity demanded and quantity supplied

respectively.

i)

(4 marks)

ii) Calculate the new equilibrium price and quantity after a fixed tax of $10 per

unit is imposed and the amount of tax revenue.

(6 marks)

(b)

Given that the variable cost per unit is + 5 , the fixed costs are $300 and the

demand function is

= 125 2 ,

show that the associated profit function is

= 3 2 + 120 300 .

Using completing square method or otherwise, deduce the maximum profit.

(10 marks)

Question 2

(a)

(b)

years. Determine the future value if the interest is compounded

i)

annually

(3 marks)

ii)

quarterly

(3 marks)

iii)

continuously

(3 marks)

compounded semi-annually. After how long does this money first exceeds

$100,000?

(5 marks)

12

(c)

Find the present value of an annuity that yields an income of RM6000 at the end

of each year for 12 years, assuming the interest rate is 8% compounded annually.

(6 marks)

Question 3

(a)

i)

= 2 (3 + 1)

ii)

= 2 5

(6 marks)

(b)

(c)

() = 100 + 80

21

2

when = 0.

(4 marks)

2 + 3 3

Find,

i)

(2 marks)

ii)

(2 marks)

iii)

provided the current demand is 12 units.

(2 marks)

iv)

(4 marks)

Question 4

(a)

i)

(b)

1 (4 3 3)

= 1

(4 marks)

0.25

13

+1

Determine the maximum production level and the labour size needed at this

level.

(8 marks)

(c)

= 60 2

and supply function

= 30 + .

Calculate the consumers surplus, CS, and the producers surplus, PS, assuming

pure competition.

(8 marks)

Question 5

(a)

(, ) = 3 + 2 2 + 7 8 + 5

(10 marks)

(b)

= 28 + 22

where K units of capital and L units of labor are used by the company.

A manufacturing companys unit capital and labor costs are $12 and $3

respectively.

Find the optimal output and level of K and L at which it is achieved when the

total input costs are fixed at $150.

(10 marks)

Question 6

(a)

4

1 0

2

0 1

5 2

Let A = [ 2 2 1] , B = [

] and C= [

].

1 2 3

3 4

1 0 1

Determine if = + 2 .

(4 marks)

14

(b)

interdependent commodities that satisfy

1 + 22 + 23 =50

21 + 2 + 33 = 65

1 + 32 + 3 = 55

(8 marks)

(c)

Find the maximum value of 2x + 3y and the point at which it occurs subject to the

following constraints (by using graphical method).

+ 30

2 0

40

0

(8 marks)

15

FORMULAS

Future Value

= ( + )

Present Value

= ( + )

Geometric Series

= (

Consumers Surplus

= ()

Producers Surplus

= ()

), || < 1

16

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