MATHEMATICS 114

MATHEMATICS FOR THE CONSUMER

Professor:  Dr. Robert P. Webber

Office and hours:  Ruffner 332.  MF, 2:00 - 3:30; T, 1:30 - 3:00; and by appointment or coincidence.

Telephone and email:  395-2192; webberrp@longwood.edu

Course description:  An introductory course designed to acquaint the student with applications of mathematics in the life of the consumer.  Special attention will be given to the algebraic derivation of formulas, the reduction of real life situations to mathematical models, and the mathematics employed in banking, credit, taxes, insurance, installment buying, and annuities.

Text:   Roueche, Graves,and Tuttle, Business Mathematics:  A Collegiate Approach, 9th edition.  Prentice Hall, 2006.  ISBN 0-13-114014-0.

Calculator:  The TI83+, TI84, or equivalent calculator is required.  An equivalent calculator may be acceptable, but it is your responsibility to know how to use it.  Bring your calculator to class each day.

Course objectives:  The student will

1. be able to do calculations involving decimals and percents quickly and accurately;
2. be able to determine the appropriate kind of average to use in a given situation;
3. be able to set up and solve word problems involving percent, interest, installment payments, depreciation, insurance, and stocks and bonds;
4. be able to use formulas and technology to calculate compound interest, present value, annuities, and periodic payments;
5. understand of the meaning of annual percentage rate.

Grades:  Your course grade will be determined as follows.

        3 tests, 1 composite quiz grade ...drop lowest of these 4 ......... 48% of the final grade
        Class participation (group work) ............................................ 15% of the final grade
        Writing assignments ............................................................... 15% of the final grade
        Final exam ............................................................................. 22% of the final grade

90-100, A; 80-90, B; 70 - 80, C; 60 - 70, D; below 60, F

Homework:  Homework is assigned regularly, and everyone is expected to do it.  Homework will not be collected without warning, and it is your responsibility to do the assigned problems.  Feel free to work with others on homework, and ask me about problems you cannot solve.

Quizzes:  Given frequently (but not every day), quizzes are given at the start of the period.  They are intended to see if you have read the material and done the simple exercises.  Quizzes are always short, and they are open book and notes.  Often they will be taken directly from the homework.  Quizzes that are missed for any reason cannot be made up.  You may miss one quiz without penalty, but you will be assigned a grade of  0  for any additional quizzes that you miss.

Class participation:  Often you will be asked to work in groups in class.  Working in small groups of three or four, you will be asked to solve a problem and present your results to the class.  Missed class participation sessions cannot be made up, but you will be allowed one absence from a class participation session without penalty.  You will receive a grade of  0  for each additional missed session.

Writing assignments:  As a general education course, Math 114 will require more writing than in some non-general education mathematics courses.  There will be two writing assignments in this course.  They will be graded both for mathematical correctness and for writing style.  More details and a grading rubric will be provided with the assignments.

Attendance:  Your attendance is expected at all classes.  Makeup tests will be given reluctantly, and then only upon presentation of a doctor's excuse.  Makeup test are always more difficult than regular tests, regardless of the reason for absence.  You may not make up missed class participation sessions nor quizzes.

Do not leave in the middle of a class, even to get a drink of water.  Students who leave in the middle of class for any reason disrupt the class and break the teacher's concentration.

Honor code:  I subscribe to the Longwood University honor system, which, among other things, assumes you do not cheat and that you take responsibility for seeing that others do not.  Infractions will be dealt with harshly.  A student who is convicted of an Honor Code offense involving this class will receive a course grade of F, in addition to any penalties imposed by the Honor Board.

Tentative schedule: