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Introduction
Calculus
Differential Calculus
Integral Calculus
Theory of Sets
Set theory is a mathematical abstract concerned with the grouping of
sets of numbers that have commonality. For example, all even numbers
make up a set, and all odd numbers comprise a set. All numbers that
end in zero make up a set of numbers that can be divided by 10. Using
and comparing sets enables the creation of theories and rules that have
practically unlimited scope, whether in mathematics or applied to areas
such as business.
Matrix
A matrix organizes a group of numbers, or variables, with specific rules
of arithmetic. It is represented as a rectangular group of rows and
columns, such as
.
This 2X3 matrix has two rows and three columns; the number 23 is
in the second row of the third column.
This is a square matrix because the number of rows equals the number
of columns.
We can only add matrices of the same dimensions, because we add the
corresponding elements. .
We are given x unit of tablet are produced, the average cost per unit is
A(x) Taka (we assume). Where
Now we find out the value of y that maximizes average cost per unit.
We start by A(x) as
-1
+0.05x
A(x) = + 0.05
+0.05=0
Then
A (150) = +0.05*150
Illustration 1
Square Pharma has a Fixed Cost of 820 TK. Corer.
Here (in corer)
Total revenue= (4
Total cost= 4 4
And, Fixed cost=820
So, (4 ) 4 4
Or, 6 36
Or , 6
Or, 36
Net Profit= (4 ) 4 4
=(4 ) 4
=(4 36 4 36
=14400-2880-1440-5760-820
=Tk.3500 corer
Illustration 2
At Market Equilibrium, Consumer demand of Square Pharma 400,000
unit of Tablet. This has a demand function (we assume)
Or , 4 6 4
=25-0.6(20)
*1 unit= 10 Tablet.
= ( 6 ) 3 4
= 4 4 (4 )
= 10000-3200-5200
= Tk.1600 thousand.
Illustration 3
At Market Equilibrium, Consumer demand of Square Pharma 400,000
unit of Tablet. This has a Supply function (we assume)
= 400 thousand .
= (400) =7+0.3(400)1/2
Then,
= (13)(400)- ( 3 )dq
= 5200-[(7)(400)+0.2(400)3/2 (0+0)]
= Tk.800 thousand
Application of Set
A Survey on Consumer Preference (1200 Sample)
A question was Asked them that which companys medicine do you
prefer And provide them 3 alternatives: Square, Beximco and Incepta.
Among Them 512 chose Square, 400 chose Beximco and 350 chose
Incepta. 95 chose both Square & Beximco, 142 chose both Square &
Incepta, 100 chose Beximco & Incepta and 50 chose all of them. Now
from Above data we can determine:
1. How Many consumer did not Choose any one?
2. How Many consumers choose only one?
Solution
(1) We are given:
n(U) =1200 n(S) =512 n(B) =400 n(I) =350
n(SB) =95 n(SI)=142 n(BI) =100 and
n(SBI) =50
Now
n(S U B U I) = n(S) + n(B) + n(I) - n(SB)-n(SI) - n(BI) + n(SBI)
=512+400+350-95-142-100+50 =975
So no. of consumer did not choose any,
= n(u)- n(S U B U I) = 1200-975 = 225person
(2) No. of consumer who choose Only Square
= n(S) - n(SB) - n(SI) + n(SBI) = 512-95-142+50= 325person
No. of consumer who choose Only Beximco
= n(B) - n(SB) - n(BI) + n(SBI) = 400-95-100+50= 255 person
No. of consumer who choose Only Incepta
= n(I)-n(BI)-n(SI) +n(SBI) =350-100-142+50= 158person
So, Square is the highest preference among consumers
Application of Matrix
A matrix is a two-dimensional arrangement of numbers in rows and
columns enclosed by a pair of square brackets [ ]in the form shown
below
Example:
a11 a12 a13
But first, lets discuss how various situations in business and economics
can be represented using matrices. This can be done using the following
Examples:
Annual productions of Square Pharmaceuticals Limited of three
products may be represented as follows:
2 Staff
3 Worker
Q1 Q2 Q3 Q4
Illustration2-
A= 12000
8000
B= 2000
1000
Q= 12000 P= 6
8000 6
Solution:
Illustration4-
Let,
8 4 3 * Y = 240000
7 4 2 Z 204000
|A| =10 -5 +3
4 2 7 2 7 4
= 10(8-12)-5(16-21)+3(32-28)
= 10(-4)-5(-5)+3(4)
= -40+25+12
= -3
42 72 74
53 10 3 10 5
42 72 74
53 10 3 10 5
43 8 3 84
-4 -5 4
= -2 -1 5
3 6 0
Step3: finding the co-factor:
Cij = (-1)i+J *Mij
C11 = (-1)1+1 *-4 = 1*-4 = -4
C12 = (-1)1+2 *-5 = 5
C13 = (-1)1+3 *4 = 4
C21 = (-1)2+1 *-2 = 2
C22 = (-1)2+2 *-1 = -1
C23 = (-1)2+3 *5 = -5
C31 = (-1)3+1 *3 = 3
C32 = (-1)3+2 *6 = -6
C33 = (-1)3+3 *0 = 0
-4 2 3
Ad joint A= 5 -1 -6
4 -5 0
-4 2 3
= 1 (-3) 5 -1 -6
4 -5 0
-4/-3 2/-3 3/-3
-376000 400000 0
12000
= 18000
24000
= Y
Bibliography
BOOKS
Mathematics With Applications In Management & Economics
(7th edition) by Prichett & Saber
Business Mathematics (11th edition) by D.C. Sancheti & V.K.
Kapoor.
Website
http://smallbusiness.chron.com/importance-basic-math-business-
41097.html
http://www.scribd.com/doc/12243159/Role-of-Mathematics-in-
Business
http://en.wikipedia.org/wiki/Business_mathematics