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MAT202 Course Outline 2022

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156 views3 pages

MAT202 Course Outline 2022

Uploaded by

Bulelwa Harris
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Course Title Quantitative Techniques

Course Code MAT202


Instructor Prof. Sandile Motsa
Office S2.101 (DEAN’s office – Science and Engineering Faculty)
E-mail [email protected]
Tel: (Office) 2517 0447
Mobile 76048105 or 79048105
Course Apps https://mat202.netlify.app (for notes and interactive examples)
Website https://mat202examples.netlify.app (for practice examples and assignments)
Description The Quantitative Techniques course has been developed for students enrolled for the Bachelor of Commerce
degree at the University of Eswatini. The course is designed to develop algebraic and quantitative problem-
solving skills. Emphasis is on mathematical techniques that have important and varied applications in business,
economics and in many types of organizational decision making situations.
Audience The target audience is second year Bachelor of Commerce students.
Description
Delivery The Quantitative Techniques course has six components, namely, theory, model, analysis, solution,
Methods interpretation and application. Introduction of the theory and the model development will be discussed in
face-to-face lectures. The analysis of the model equations, solution procedures, interpretation and application
of results will be done online.
The online component of the course will consist of:
1. Dynamically generated interactive course material (including lecture slides, notes, animations,
simulations, examples, exercises and quizzes).
2. Course Mobile/web app
3. Static supplemental course material such as notes, solution guides and e-Books.
4. Screencast recorded video lectures
5. Links to video lectures or other presentations from free sources like the Khan Academy and MIT's
OpenCourseWare (OCW).

Course Goals Upon completion of this course, students should be able to:
1. Identify business problems that could be modelled and solved mathematically.
2. Apply a range of quantitative techniques to summarise and effectively analyse data to support
decision-making.
3. Construct mathematical formulations that model and solve real-life problems in business, economics
and finance.
4. Apply analytical techniques in making the best or most effective use of scarce resources.
5. Deduce optimal scheduling in the transportation of commodities.
6. Determine the most efficient assignment of or allocation of jobs to employees, people to projects,
contracts to bidders, etc.
7. Apply time value of money concepts in real life financial situations.

Learning 1. Course goal 1


Objectives / a. Define a Linear Programming Problem in terms of its decision variables, objective function
and constraints.
Outcomes b. Organise data derived from a real problem and use it to formulate a Linear Programming
Problem
c. Recognize the difference between a maximisation and minimisation Linear Programming
Problem.
d. Use the graphical technique to sketch the feasible region of a Linear Programming Problem
and interpret the graphical output.
e. Apply the Simplex algorithm in solving Linear Programming Problems.
f. Analyse and interpret solutions of Linear Programming Problems.
g. Identify special cases of Linear Programming Problems.

2. Course goal 2
a. Identify and sketch the domain and range of functions of two variables.
b. Derive revenue and profit functions from given cost data and demand schedule.
c. Define and compute the first and second order partial derivatives of functions of two or
more variables.
d. Use partial derivatives to calculate marginal quantities, such as cost, profit, revenue,
productivity and utility, and interpret the results.
e. Use partial derivatives to determine whether products are complementary or substitutes.
f. Construct and solve unconstrained optimization problems, defined as functions of two
variables, using the second partial derivative test.
g. Formulate and solve constrained optimization problems using the substitution method and
the method of Lagrange Multipliers.
h. Use partial derivatives to solve a class of optimization problems with applications in business
and economics. Examples to include
i. Minimising costs subject to production quotas.
ii. Maximising utility subject to budgetary constraints
iii. Maximising production subject to a cost constraint.

3. Course goal 3
a. Define matrices and characterise them in terms of their properties and special forms.
b. Organise given data and express it in matrix form and use matrix operations to solve
problems in business and economics.
c. Compute the determinant and inverse of matrices.
d. Apply the Gaussian elimination and Jordan techniques, Cramer’s rule and the Inverse
method to solve systems of linear equations.
e. Apply matrices and associated operations to formulate, describe, solve and interpret the
Leontief input-output model used in economics

4. Course goal 4
a. Define the transportation problem for minimising the cost of distribution goods
b. Identify special features of a transportation problem
c. Formulate transportation problems as a special class of Linear Programming Problems.
d. Derive an initial solution of a transportation problem using the Northwest Corner Rule and
the Minimum Cell Cost Method.
e. Apply the Stepping Stone method to find an optimal solution of a transportation problem
f. Solve special cases of transportation problems such as problems with
i. unequal supply and demand
ii. unacceptable or preferred routes
iii. maximization objective
g. Formulate special linear programming problems using the assignment model
h. Solve assignment problems using the Hungarian method.

5. Course goal 5
a. Solve some real life financial problems involving the use of the concepts of simple and
compound interest.
b. Solve problems requiring the calculation of periodic payments or installments.
c. Identify and solve problems related to annuity and its variations.
d. Solve problems related to amortization, depreciation and sinking funds.

Course 5 Individual assignments (based on 5 chapters) and 1 Class Test (Face to face);
Assessment Calculation of CA (Average of all assessments)
Plan
Learner a) Self-contained mobile/web apps
Support Plan b) Screencast recorded video lectures (Shared via Whatsapp, Google classroom, Moodle and on
YouTube)
c) Powerpoint animations
d) Moodle discussion forum
e) Social media discussion groups (WhatsApp)
f) Email Support
g) Consultation
Teaching a) Problem based learning - learning mathematics through solving real life problems
Approaches b) Mathematical modelling and application
c) Interactive demonstration apps for exploring and visualizing ideas and concepts.

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