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MATHEMATICAL METHODS FOR BUSINESS STUDY GUIDE

Students can only take the waiver exam once. An official letter from the Program Management office will be sent to students letting me know if they have passed or failed the exam.

Listed below is a preparatory syllabus to help you study for the Mathematical Methods for Business Waiver exam. The waiver exam is graded on a pass/fail level and the passing grade is 70.

The text to use is Budnick, frank. Applied Mathematics for Business Economics and the Social Sciences. 4th edition, NY: McGraw Hill, 1993. ISBN:0-390-16226-4

Students should purchase this book for additional study help. The exam is comprised of short answer questions, where you pick the correct answer from the choices given. Longer exam questions the work must be shown. There are no essay type questions. All the questions are quantitative in nature and some require a written interpretation of your answer. The topics covered in the short answer questions will cover all the material with no particular emphasis. Expect ten (10) short answer questions each worth 5 points. There will be five longer questions each worth 10 points. Listed below are the topics for the longer questions: 1. Determining the equation of a straight line, given key information. 2. Break-even determination 3. Matrix application or solving a system of equations 4. Linear programming problem 5. Optimization using derivatives Students are allowed to use a calculator. Please bring with you pencils and erasers for the exam. The derivative formulas are attached to the waiver exams. Students will have to remember the other formulas. You cannot bring in any sheet with

formulas.

Listed below are Chapters from the book to use as a guide in studying: