Business Math Business Administration 112 Winter 2006 Daily 5 Credits Instructor: Krista Mahan, Office #24 Office Hour: 1:30 or by appointment Office Phone: 527-4233 E-mail: Krista.Mahan@WWCC.EDU Texts: Practical Business Math Procedures, 8th Edition by Slater Business Math Handbook and Study Guide by Slater After a basic math review (relevant sections of Chapters 1-3), we will be covering Chapters 6, 7, 8, 10, 11, 12, and 13. For each chapter we will solve problems using calculators and then build spreadsheet formulas using Excel. Description: This course develops competency in common business calculations with an emphasis on solving word problems related to financial decision-making and the management of cash flow. Students learn to calculate percentages, trade and cash discounts, markups and markdowns, simple and compound interest, bank discounts, present and future value of annuities and sinking funds. Students perform calculations with the aid of a calculator and create spreadsheet formulas to solve problems using Excel. Strong basic math skills or Math 49 is recommended. Instruction Method: Lecture, demonstration, small group work and practice, practice, practice. Course Topics/Learning Outcomes: You will be able to: Solve word problems related to common business and personal situations. Calculate the rate of percent increases and decreases. Convert percentages, decimals and fractions for use in applications. Solve problems related to trade and cash discounts and understand how they affect business decisions. Calculate the cost and selling price of merchandise through markups. Determine changes in original selling price through markups and markdowns. Calculate simple interest. Perform calculations dealing with the borrowing or lending of monies. Perform calculations required for establishment of annuities & sinking funds. Apply math skills learned to develop spreadsheet formulas that will automatically calculate answers to problems students did manually in class. Evaluation: 15% Homework Assignments. Homework assignments will be given daily throughout each chapter and you will be given a chance to correct and learn from your mistakes. All homework for the chapter will be checked during the chapter’s testing period and will not be accepted past this day. Note: You have total control over earning 100% of these points. For Chapters 6-13 Homework consists of the following and is listed on your calendar: B-pages: most of which will be completed in class (purple edge in back of text) End of the chapter problems (Check figures for odd questions are on “B” pages) Summary Practice Test (Check figures are on “B” pages at back of text.) Additional Practice Problems as provided and assigned. Extra Practice if desired: Use your DVD provided with the text. I will check homework to see if you completed the following assignments: (1) B-pgs.; (2) End of Chapter; (3) Summary Practice ; and (4) Additional Packets if given. If you have completed all four you will get 100%. Each assignment left undone lowers your homework grade for that chapter25%. Homework is meant to raise your grade, not lower it. If your final homework grade is lower than your test average, your grade will be based on test average alone. 85% Chapter Tests . A Chapter/Unit test will be given approximately every 7 days and your scores will be averaged to determine this portion of your grade. Safety Net: At the end of the quarter I will drop out your lowest test score (10%) before your average is calculated. The final exam is comprehensive, however it is open book, open note. Missed Test Policy: It is your responsibility to notify me and schedule a time to make- up a missed test. Fifteen percent is deducted on any test involving an unexcused absence the day of the test. 93% and above ...... A Chapter Test Values: 90 – 92% ................ A- Review: 5% 87-89 ...................... B+ Chapter 6 10% 83-86 ...................... B Chapter 7 10% 80-82 ...................... B- Chapter 8 10% 77-79 ...................... C+ Chapter 10 10% 73-76 ...................... C Chapter 11 10% 70-72 ...................... C- Chapter 12 and 13 20% 67-69 ...................... D+ Final 10% 60-66 ...................... D Test = 85% 59 and below F Homework = + 15% Final Grade 100% - see chart to left Suggestions for Success: 1. Attend class and participate. 2. Be prepared for class by completing your assignments on time. 3. Seek out help when needed. 4. Focus on understanding the concept – don’t try to memorize the steps! 5. Practice, practice, practice!! Since math is a skill, practice is necessary to become proficient. proficient.
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