Written by Richard Thompson
Business Projects by Christopher G. Lamoureux and Pamela E. Slaten
Print ISBN Part I: 978-0-88385-726-7
Print ISBN Part II: 978-1-61444-731-1
Series: MAA Textbooks
Mathematics for Business Decisions is a set of self-contained, electronic texts that provide material for a two semester sequence of mathematics courses for lower division business students. Mathematical topics are presented in PowerPoint files, as tools that student teams apply to real-world business projects. Prepared and student created Excel files are used to support the mathematics and for simulation.
Mathematics for Business Decisions, Part 1, Standard Release 2.3: Probability and Simulation; applies probability, Bayes’ Theorem, data analysis, exponential growth, probability distributions, random sampling, and bootstrapping to two business decision scenarios, Loan Work Outs and Stock Option Pricing. An Alternative Release 2.3a, presents the same topics, but substitutes Managing ATM Queues for the second project.
Mathematics for Business Decisions Part 2, Release 2.3: Calculus and Optimization; applies differentiation, integration, probability distributions, variance; normal distributions, and Monte Carlo methods to the projects Marketing CompactFlash Cards and Bidding on an Oil Lease. It develops calculus understanding via numerical and graphical methods, with only limited symbolic manipulation. This is designed for a second course to follow Mathematics for Business Decisions Part 1.
A new e-text, Calculus for Business Decisions, 2.3, Optimization and Probability; retains the projects, and emphasis on numerical and geometric methods from Mathematics for Business Decisions Part 2, but includes symbolic work with most of the standard formulas for differentiation and integration. This can be used for a one semester course in business calculus, having only algebra and some computer experience as prerequisites. It can also be used for a second semester course following Mathematics for Business Decisions Part 1.
New for 2012
The Teachers Toolkit now includes Excel quizzes for the Loan Project in Part 1 and for the Marketing and Auctions Projects in Part 2, as well as WeBWorK materials designed to assess the students’ understanding of the mathematical and computer tools used in Math for Business Decisions Parts 1 and 2. The Excel quizzes come with a tool that automates the grading of the quizzes. A problem library and sample assignments for each course as well as a Quick Start Guide which explains how to customize and use the sample assignments are included with the WebWork materials.
Any one of the Mathematics for Business Decisions texts can be adopted through a site licensing arrangement with the Mathematical Association of America, for a cost of $30 per enrolled student. Licenses will be issued to institutions on an academic year basis. The MAA will provide copies of the software to adopting institutions for the distribution to their students.
System requirements: Mathematics for Business Decisions and Calculus for Business Decisions files will run on PC’s with Windows XP, Vista, or Windows 7; and Excel, PowerPoint, and Word from Microsoft Office Suite 2007-2010. They are not designed to run on the Macintosh platform.
Student Manuals: Mathematics for Business Decisions, Parts 1 & 2
David Williamson, Marilou Mendel, Julie Tarr, & Deborah Yaklic
The student manuals for Mathematics for Business Decisions, Parts 1 & 2 supplement the course material by providing suggestions to help students work effectively with teams. Included are over 200 combined examples and exercises with worked out solutions.
To obtain further information please contact: Carol Baxter at firstname.lastname@example.org.