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Mathematical Association of America
Mathematics for Business Decisions Part 1: Probability and Simulation Release 1.5 and 1.5a / Edition 2

Mathematics for Business Decisions Part 1: Probability and Simulation Release 1.5 and 1.5a / Edition 2


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Product Details

ISBN-13: 9780883857427
Publisher: Mathematical Association of America
Publication date: 08/28/2005
Series: Classroom Resource Materials Ser.
Edition description: Paperbound and CD-ROM
Product dimensions: 7.80(w) x 9.40(h) x 1.50(d)

Read an Excerpt

The Mathematics for Business Decisions Part 1 CD contains files for two complete editions of the self-contained electronic text. The Standard Edition Release 1.5, is an update of the original version and used its same business projects. The Alternative Edition, Release 1.5a, introduces a new project. Each instructor will select the edition of the material that he or she wants to use. This is robust software that has been used over a period of seven years by thousands of students with very few computer programs. Successful navigation through the e-text requires an understanding of the course installation CD, the course file structure, and the arrangement of the instructional material so be sure to read the chapter on installing the software (p. xi).
 Mathematics for Business Decisions Part 1: Probability and Simulation is a new type of "textbook," that is designed for study with a computer. Running the e-text on a computer provides animated Excel directions and links to Excel files, streaming video clips, stored documents, and various web sites. All of these helpful aids to your understanding are lost if  you replace computer studying with simple reading of the screen captures in this Student Notebook.
 In addition to the extra learning support that is provided by the e-text, computerized studying will help you develop the skills that you will use in your future business career. Computer training files, help files, and instructional videos are rapidly replacing traditional paper and ink manuals in the modern business environment. Most of your on the job learning will take place at a computer. Use Mathematics for Business Decisions to develop this style of study.
 While it should not replace computer studying, the Student Notebook can play a very useful role in your learning process. Here are some ideas for constructive use of the screen captures.
l While working at a computer, use the wide margins in the Student Notebook to enter your own notes and comments about the material on the screen. The screen captures allow you to easily locate the material about which you made the notes.
l Use the Student Notebook as a backup study method when a computer is not available. Students have reported using the screen captures while riding to school on a bus, while visiting in a house with no suitable computer, or while studying in a library.
l The screen captures can also provide a quick review of specific topics from Mathematics Business Decisions. For example, you might want to check on a formula in the ten minutes before an examination. This can be done more easily with the printed material than with a computer.
Use the Student Notebook when it is appropriate, but do not let it replace working at a computer for most of your study time. Considerable experience has shown that students who do the great majority of their studying at computers get much more out of the e-text, gain a better understanding of the mathematical and business concept, and are more successful in their courses. For best results, use the material as it was designed to be used.

Table of Contents

Using the Computer Text
Solving Computer Problems
Project 1: Loan Work Outs
 Business Background
 Class Project
 Team Project
 Basic Probability
 Word Processing Mathematics
 Summation Notation
 Expected Value
 Database Functions and Filtering
 Conditional Probability
 Bayes' Theorem
 Management Example

Project 2: Stock Option Pricing
 Business Background
 Class Project
 Team Project
 Compound Interest
 Probability Distributions
 Random Sampling
 Wholesale Ordering Example

Downloading Historical Data on Stock Prices
Index for Standard Edition (Loan Work Outs and Stock Option Pricing)
Alternative Project 2: Managing ATM Queues
 Business Background
 Class Project
 Team Project
 Mathematical Background
 Exponential Growth
 Probability Distributions
 Random Sampling
 Monte Carlo Methods
 Wholesale Ordering Example

Index for Alternative Edition
 (Loan Work Outs and Managing ATM Queues)


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