1 unit 1. basic numeracy skills lecturer: a’lam asadov [email protected] office hrs: friday...
TRANSCRIPT
1
Unit 1. Basic Numeracy Skills
Lecturer: A’lam [email protected]
Office hrs: Friday 2.00-3.00pmRoom 103
QUANTITATIVE METHODS FOR BUSINESS
UGB108
2
ObjectivesScientific notation;Use symbols to represent relationships ;Simplify expressions containing symbols.Add and subtract, multiply and divide
fractions;Understand positive and negative
powers and related operations;Understand and manipulate fractional
powersPlot a straight line on a graph;Calculate the slope or gradient of a line
and the intercept with the y axis.
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
3
Essential Maths A few basic concepts are enough for most of the topics in this book. Without these basic ideas you will come across lots of things you don’t understand in the rest of your course, career and life. There won’t be any proofs here, everything will be explained fully and we start at the very beginning.
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
4
Multiplying Numbersthe same signs gives a + different signs gives a –
+ + = + 2 3 = 6+ – = – 2 (-3) = -6– + = – (-2) 3 = -6– – = + (-2) (-3) = 6
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
5
Dividing Numbersthe same signs gives a + different signs gives a –
+ ÷ + = + 6 ÷ 3 = 2 6 / 3 = 2
+ ÷ – = – 6 ÷ (-3) = -2 6 / (-3) = -2
– ÷ + = – (-6) ÷ 3 = -2 (-6) / 3 = -2
– ÷ – = + (-6) ÷ (-3) = 2 (-6) / (-3) = 2Quantitative Methods for Business, Management and Finance
(3rd Ed) by Louise Swift and Sally Piff
6
Combining OperationsIn order: BEDMASBracketsExponentials (Powers or Roots)Divide and Multiply (from left to right)Add and Subtract (from left to right)2 2 (27 ÷ 3) + (1 – 20)
= 2 2 (9) + (–19) = 36 – 19 = 17Quantitative Methods for Business, Management and Finance
(3rd Ed) by Louise Swift and Sally Piff
7
Scientific Notationa 10b
◦Where 1 ≤ a < 10◦B is an integer
12000 = 1.2 104
0.0012 = 1.2 10-3
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
8
Working With SymbolsThe rules for addition, subtraction,
multiplication and division are exactly the same as for arithmetic with numbers -(-a) = a, -(+a) = -a, etc a(-b) = -ab, (-a)(-b) = ab, etc a/(-b) = -a/b, (-a)/(-b) = a/b, etc
Remember explicit multiplication2a = 2a
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
9
Collecting Terms TogetherOften we have to collect like terms
together
2pq + pq - 5pq = -2pq s/2r +4s/2r = 5s/2r
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
10
FractionsA fraction is a:
numerator denominator
A fraction keeps the same value when you do the same thing to both the numerator and denominator
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
11
Multiplying FractionsMultiply the numerators and the
denominators
2/3 4/5 = 8/152¼ 4/5 = 9/4 4/5 = 36/20 =
9/5 = 1 4/5(-3/2) (5/7) = -15/14a/b c/d = ab/cd
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
12
Dividing FractionsTo divide one fraction by a
second, turn the second upside down and multiply
1/2 ÷ 2/3 = 1/2 3/2 = 3/45/7 ÷3 = 5/7 1/3 = 5/21a/b ÷ c/d = a/b d/c = ad/bc
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
13
PercentagesPercentages are the number of
hundredths
5% = 5/10020% = 20/1006% of 300 = 6/100 300 = 1825/400 = 6.25/100 = 6.25%
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
14
Expanding BracketsThe value before a bracket is
multiplied by everything inside the brackets
a(b + c) = ab + acx(y + z) – xy = xy +xz – xy =
xz(b + c)/a = b/c + c/a
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
15
Product of BracketsEverything inside the first
bracket is multiplied by everything inside the second bracket
(a + b)(c + d) = ac + bc + ac + ad
(x – 2)(y + 1) = xy – 2y + x - 2
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
16
PowersMultiplying a value by itself a number
of times
a squared = a a = a2
2 cubed = 2 2 2 = 23 = 8-2 to the power 4 = (-2)4 = 16(2/3) to the power 5 = 25/35 =
32/243
a0 = 1 for any value of aQuantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
17
Negative Powers
Take the reciprocal of the positive power
b-m = 1/bm
2-2 = 1/22 = ¼3-4 = 1/34 = 1/81(1 + a)-2 = 1/(1 + a)2
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
18
Multiplying PowersTo multiply powers of the same
number, add the power
bmbn = bm+n
24 2-5 = 24-5 = 2-1 = ½
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
19
Dividing PowersTo divide powers of the same
number, subtract the power
bm / bn = bm-n
24 ÷ 2-5 = 24+5 = 29 = 512
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
20
Powers of a PowerTo raise a power to a power,
multiply the powers together
(bm)n = bmn
(32)3 = 36 = 729
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
21
Power of a Product(a b)n = an bn
(3 4)3 = 33 43 = 27 64 = 1728
(2ab)m = 2m am bm
Similarly:(a/b)n = an / bn
(5/2)3 = 53 / 23 = 125/8Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
22
Fractional PowersThe square root of a = √a = a1/2
The cube root of 64 = 641/3 = 4The qth root of a is a1/q
Similarly:bn/q = (b1/q)n
(27)2/3 = (271/3)2 = 32 = 9163/4 = (161/4)3 = 23 =8
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
23
EquationsShow the relationship between
constants and variablesThey form quantitative models of
problemsWhen there is a single unknown value,
rearrange the equation so that this value is on one side of the equals sign, and all the known values are on the other side.
Then doing the calculations gives the unknown value – or solves the equation
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
24
ExamplesC = (60 + 5h) / nWhen h = 10 and n = 5 the
solution is:C = (60 + 50) / 5 = 22
V = 1000(1+i)n
When I = 0.05 and n = 10V = 1000(1.05)10 = 1629
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
25
Inequalities= is equal to ≠ is not equal to < is less than≤ is less than or equal to> is greater than≥ is greater than or equal to
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
26
Manipulating Inequalities
Inequalities can be manipulated in the same way as equations
Doing the same thing to both sides give an equivalent result
EXCEPTWhen you multiply by a negative
number you must reverse the sign of the inequality (< becomes >, ≤ becomes ≥, etc)
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
27
Examples5x + 2 > 3x – 1 means 2x > -3,
or x > -3/23/x > 2 means x < 3/23 – x < 1 < 5 – x means 2 < x < 4
But beware negative values:-2x > 6 means –x > 3 or x < -3 p/(-2) > 3 means p/2 < -3 or p < -
6Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
28
Straight line graphs
Y = 2x + 1Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
29
Y = -3x +2X -5 -4 -3 -2 -1 0 1 2 3 4 5Y 17 14 11 8 5 2 -1 -4 -7 -10 -13
30
Linear Equations
Y = ax + b
Y = 2x + 13y – 3 = x2x – 4y = 5
31
b is the intercept of the y axis
32
a is the gradient (slope)
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
33
Positive and Negative Gradients
Quantitative Methods for Business, Management and Finance(3rd Ed) by Louise Swift and Sally Piff
34
QUESTIONS ???