Features step-by-step examples based on actual data and connects fundamental mathematical modeling skills and decision making concepts to everyday applicability
Featuring key linear programming, matrix, and probability concepts, Finite Mathematics: Models and Applications emphasizes cross-disciplinary applications that relate mathematics to everyday life. The book provides a unique combination of practical mathematical applications to illustrate the wide use of mathematics in fields ranging from business, economics, finance, management, operations research, and the life and social sciences.
In order to emphasize the main concepts of each chapter, Finite Mathematics: Models and Applications features plentiful pedagogical elements throughout such as special exercises, end notes, hints, select solutions, biographies of key mathematicians, boxed key principles, a glossary of important terms and topics, and an overview of use of technology. The book encourages the modeling of linear programs and their solutions and uses common computer software programs such as LINDO. In addition to extensive chapters on probability and statistics, principles and applications of matrices are included as well as topics for enrichment such as the Monte Carlo method, game theory, kinship matrices, and dynamic programming.
Supplemented with online instructional support materials, the book features coverage including:
- Algebra Skills
- Mathematics of Finance
- Matrix Algebra
- Geometric Solutions
- Simplex Methods
- Application Models
- Set and Probability Relationships
- Random Variables and Probability Distributions
- Markov Chains
- Mathematical Statistics
- Enrichment in Finite Mathematics
An ideal textbook, Finite Mathematics: Models and Applications is intended for students in fields from entrepreneurial and economic to environmental and social science, including many in the arts and humanities.
Author(s): Carla C. Morris, Robert M. Stark
Edition: 1
Publisher: Wiley
Year: 2015
Language: English
Pages: 534
Tags: Finite Mathematics; Linear Programming; Matrix; Probability
Cover
Title Page
Copyright
Contents
Preface
About the Authors
Chapter 1 Linear Equations and Mathematical Concepts
1.1 Solving Linear Equations
1.2 Equations of Lines and Their Graphs
1.3 Solving Systems of Linear Equations
1.4 The Numbers π and e
1.5 Exponential and Logarithmic Functions
1.6 Variation
1.7 Unit Conversions and Dimensional Analysis
Chapter 2 Mathematics of Finance
2.1 Simple and Compound Interest
2.2 Ordinary Annuity
2.3 Amortization
2.4 Arithmetic and Geometric Sequences
Chapter 3 Matrix Algebra
3.1 Matrices
3.2 Matrix Notation, Arithmetic, and Augmented Matrices
3.3 Gauss-Jordan Elimination
3.4 Matrix Inversion and Input-Output Analysis
Chapter 4 Linear Programming - Geometric Solutions
Introduction
4.1 Graphing Linear Inequalities
4.2 Graphing Systems of Linear Inequalities
4.3 Geometric Solutions to Linear Programs
Chapter 5 Linear Programming - Simplex Method
5.1 The Standard Maximization Problem (SMP)
5.2 Tableaus and Pivot Operations
5.3 Optimal Solutions and the Simplex Method
5.4 Dual Programs
5.5 Non-SMP Linear Programs
Chapter 6 Linear Programming - Application Models
Chapter 7 Set and Probability Relationships
7.1 Sets
7.2 Venn Diagrams
7.3 Tree Diagrams
7.4 Combinatorics
7.5 Mathematical Probability
7.6 Bayes' Rule and Decision Trees
Chapter 8 Random Variables and Probability Distributions
8.1 Random Variables
8.2 Bernoulli Trials and the Binomial Distribution
8.3 The Hypergeometric Distribution
8.4 The Poisson Distribution
Chapter 9 Markov Chains
9.1 Transition Matrices and Diagrams
9.2 Transitions
9.3 Regular Markov Chains
9.4 Absorbing Markov Chains
Chapter 10 Mathematical Statistics
10.1 Graphical Descriptions of Data
10.2 Measures of Central Tendency and Dispersion
10.3 The Uniform Distribution
10.4 The Normal Distribution
10.5 Normal Distribution Applications
10.6 Developing and Conducting a Survey
Chapter 11 Enrichment in Finite Mathematics
11.1 Game Theory
11.2 Applications in Finance and Economics
11.3 Applications in Social and Life Sciences
11.4 Monte Carlo Method
11.5 Dynamic Programming
Answers to Odd Numbered Exercises
Using Technology
Glossary
Index
EULA
