MATH 2053 - Finite Mathematics

1. Set up and solve linear programming problems graphically.
2. Set up and solve standard and nonstandard linear programming problems using the Simplex Method.
3. Calculate future values, present values, interest rates, effective rates, interest amounts, numbers of years, and numbers of compounding periods using simple and compound interest formulas.
4. Calculate interest rates, interest amounts, principal amounts, payments, present values, and future values of ordinary annuities, and sinking funds.
5. Find the payment amount for an amortized loan, the portion of a loan payment that is interest and the portion that is principal; the remaining balance, the sum of all payments, and the total amount of interest paid.
6. Perform set operations; draw, interpret, and apply Venn diagrams.
7. Use basic counting techniques including the multiplication principle, permutations, and combinations to count and to find probabilities.
8. Compute conditional probabilities, probabilities of independent events, and binomial probabilities; calculate odds and expected values; and apply Bayes’ Theorem.
9. Organize data; create frequency & probability distributions and histograms; and compute measures of central tendency and variation.
10. Find the percentage of area under a normal curve; find z-scores; and find probabilities using the standard normal curve.
11. Solve application problems using the skills listed in outcomes 1 through 10.

• Students develop higher order thinking skills.
• Students can achieve mathematical literacy.

• Simple Interest (optional: discount)
• Compound interest
• Annuities, future value, and sinking funds (optional topic: annuity due)
• Annuities, present value, and amortization
• Graphing linear inequalities
• Linear programming: the graphical method
• Applications of linear programming
• The Simplex method: maximization
• Maximization applications
• The Simplex method: nonstandard problems (optional: equality constraints)
• Sets
• Applications of Venn diagrams and contingency tables 
• Introduction to probability
• Basic concepts of probability
• Conditional probability and independent events
• Bayes’ formula
• Probability distribution and expected value
• The multiplication principle, permutations, and combinations
• Applications of counting
• Binomial probability
• Frequency distributions
• Measures of center 
• Measures of variation (optional: boxplots)
• Normal distributions 
• A variety of application problems from each required topic should be assigned

Learning activities

• This course should be taught using real life problems when possible.

Assessments

• Each instructor will include a set of departmental assessment questions on their assessment tool. 
• These questions will be in direct support of the learning outcomes.
• Department-wide results for these questions will be reported when final grades are submitted. 

Grading guidelines 

• At least 70% of the grade should come from proctored work