math week 1.docx

WEEK 1 INTRODUCTION TO MATHEMATICS IN BUSINESS Mathematics is integral to various business functions, providing the tools and techniques necessary for analysis, optimization, and decision-making by leveraging mathematical models and methods business can improve efficiency, reduce costs, enhance cu...

WEEK 1 INTRODUCTION TO MATHEMATICS IN BUSINESS Mathematics is integral to various business functions, providing the tools and techniques necessary for analysis, optimization, and decision-making by leveraging mathematical models and methods business can improve efficiency, reduce costs, enhance customer satisfaction and achieve strategic objectives ASSIGNMENT (8/6/24) Write a short essay on the importance of mathematics in the business word WEEK 2 NUMBER SYSTEMS AND BUSINESS APPLICATION BASIC MATHEMATICAL TERM (NUMBER TYPES) - Natural numbers (N): Postive integers (1,2,3...) - Whole numbers: Natural numbers including zero (0,1,2,3...) - Integers: Whole numbers and their negatives (-3,-2,-1,0,1....) - Rational numbers (Q): Numbers that can be expressed as a fraction of two integers (1/2,3/4,5) - Irrational numbers: Number that cannot be expressed as fraction of two integers (√,π) - Complex Numbers (C): Numbers that have a real and an imaginary part (3+4, X, N, Y) formulas ASSIGNMENT (8/8/24) 1\. A company sells a product for 350. The cost to produce the product is 250. Calculate the profit margin as percentage 2\. A retailer buys an item for 120 and sells it for 100. Calculate the loss and the loss percentage 3\. A store is offering a 15% discount on a product that originally costs 80. Calculate the discount amount and the final price after the discount. 4\. A product is marked up by 25% from its cost price of 60. Calculate the markup amount and the selling price. 5\. Calculate the simple interest earned on an investment of 1000 at an annual interest rate of 5% for 3 years