Applied Business Mathematics

Students of Management Sciences and Economics can build strong mathematical concepts through this course.

Ratings 4.40 / 5.00

What You Will Learn!

Linear Equations and Linear Inequalities and their solution with properties and applications.
System of Linear Equations and their solution with applications.
Concept of Mathematical Function along with Cost Functions, Revenue Functions, Profit Functions, Break-Even Models with Graphical Representations.
Business Arithmetic with Concept of Ratios, Proportions, Percentages etc.
Mathematics of Finance including the concepts of Simple and Compound Interest, Annuities, Cost-Benefit Analysis.
An introduction to Linear Programming with different techniques along with graphical solution and application in Business Models.

Description

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.