MATHEMATICS OF BUSINESS

ONLINE COURSE SYLLABUS

FALL SEMESTER 2009

 

 

COURSE INFORMATION

Number.................................................................................................................................. BU 156

Section   .......................................................................................................................................... 01

Credit/Contact Hours.................................................................................................................. 4/4

Prerequisites........................................................................... MA090 or proper placement score

Classroom Location............................................................................................................... Online

Class Hours....................................................... At your convenience - Watch for deadlines !!!

 

INSTRUCTOR INFORMATION

Name......................................................................................................................... .F. Ann Sebeck

Office........................................................................... Heirman University Center-Room # 937

Office Hours................. Tuesday and Wednesday: 10:00am-12:00pm or By Appointment

Office Phone............................... (906) 786-5802, Ext. 1304 or 1-800-221-2001, Ext. 1304

Fax #....................................................................................................................... (906) 789-6910

E-Mail..................................................................................................... sebecka@baycollege.edu

 

TEXTS & MATERIALS

Texts:.......................Practical Business Math Procedures: 9^th Edition, by Jeffrey Slater. Published by McGraw-Hill Irwin.

 

Materials:.................A basic calculator

 

Online Requirements:..Internet access with Netscape 4.5 or higher, and Word 6.0 or higher or WordPerfect 6.1 or higher.

 

The preferable way to log in to your course is to go to:

 

http://online.baycollege.edu

 

Many of you log in through Bay's website, and it would be better if you saved the above address and logged in through there. In the event that Bay's site is down, it is still your responsibility to do your course work. By using the above site this will allow you to do this.

 

INSTRUCTOR NOTICE TO STUDENTS:...It is important to understand how this online course is conducted. Please read and buy into the statement below made by a renowned online advocate.

 

 Probably the biggest difference for learners in distance learning environments is that they have a greater responsibility for their learning than they normally have in a resident classroom.  Learners in distance learning environments will perceive they work harder than they do in resident classrooms, and depending on the technology, learning strategies, and other variables, they may. Despite these differences, learners in distance learning environments can expect to learn as much as they do in resident classrooms, if not more. (Hank Payne)

 

An online course requires a high level of self teaching and self learning, make sure you are comfortable with both before taking this class. This is not a course you can wait and take the last few weeks of the semester. You must complete work in the order that the schedule (last page of syllabus) states and you must complete work by the given deadlines. No late work is accepted under any circumstances! This is not to say that you can't work ahead, if all necessary material is posted for scheduled chapters, you may work as far ahead as you wish. If you choose to do this, my responses may not come to you in a timely fashion as the class will be following the schedule given. You can normally expect a response within a 48 hour period unless it is nearing the weekend, the usual course times will be Monday through Thursday from 10:00 am to 4:00 pm. This is not to say you may see activity from me at any time night or day, it may happen.

 

COURSE GOAL

A course intended primarily for non-transfer business students and for others who need to use mathematics in the solution of practical problems. Some of the areas covered include a comprehensive review of mathematical principles, measurements, inventory, mark-up, depreciation, discounts, interest, bank reconciliation, insurance, and taxation. This course does not fulfill the math requirements for the A.S. or A.A. degrees. This course is a supportive course designed to meet occupational program requirements.

 

COURSE OBJECTIVE

To provide students with an overview of math procedures that may be used in the day-to-day workings of the business world and every day world We will take very basic math and apply that math to everyday business problems. This will be done with realistic, practical material for future use of a business manager.

 

COURSE OUTCOMES

1)       Define and state the purpose of signature cards, checks, deposit slips, check stubs, check registers, and endorsements. Correctly prepare deposit slips and write checks. Define and state the purpose of the bank statement. Complete a check register and a bank reconciliation. Explain trends in online banking.

 

2)       Explain the basic procedures used to solve equations for the unknown. List the five rules and the mechanical steps used to solve for the unknown in seven situations; know how to check answers. List the steps for solving word problems. Complete blueprint aids to solve word problems; check the solutions.

 

3)       Convert decimals to percents (including rounding percents), percents to decimals, and fractions to percents. Convert percents to fractions. List and define the key elements of the portion formula. Solve for the unknown of the portion formula when the other two key elements are given. Calculate the rate of percent decreases and increases. 

 

4)       Calculate single trade discounts with formulas and complements. Explain the freight term FOP shipping point and FOB destination. Find list price when net price and trade discount are known. Calculate chain discounts with the net price equivalent and single equivalent discount rate. List and explain typical discount periods and credit periods. Calculate outstanding balance for partial payments.

 

5)       Calculate markups based on cost and selling price. Calculate markdowns; compare markdowns and markups. Price perishable items to cover spoilage loss. Calculate contribution margin and breakeven point.

 

6)       Define, compare, and contrast various pay periods. Calculate various gross pay scales. Prepare and explain the parts of a payroll register. Explain and calculate federal and state unemployment.

 

7)       Calculate simple interest and maturity values for months and years, and by exact and ordinary interest. Using the interest formula, calculate the unknown when the other two (principal, rate, or time) are given. List the steps to complete the U.S. Rule. Complete the proper interest credits under the U.S. Rule.

8)       Differentiate between interest-bearing and noninterest-bearing notes. Calculate bank discount and proceeds for simple discount notes. Calculate and compare the interest, maturity value, proceeds, and effective rte of a simple interest note with simple discount note. Explain and calculate the effective rate for a Treasury bill. Calculate the maturity value, bank discount, and proceeds of discounting an interest-bearing  note before maturity. Identify and complete the four steps of the discounting process.

 

9)       Compare simple interest with compound interest and present value with compound interest. Calculate the compound amount and the interest manually and by table lookup. Explain and compute the effective rate. Compute preset value by table lookup. Check the present value answer by compounding.

 

10)   Calculate the amount financed, finance charge, and deferred payment of an installment loan. Calculate the estimated APR by table lookup. Calculate the monthly payment by formula and by table lookup. Calculate the rebate and payoff for Rule of 78. Calculate the finance charges on revolving charge credit card accounts.

 

11)   List the types of mortgages available. Utilize an amortization chart to compute monthly mortgage payments. Calculate the total cost of interest over the life of a mortgage. Calculate and identify the interest and principal portion of each monthly payment. Prepare an amortization schedule.

 

12)   Compute sales tax on goods sold involving trade and cash discounts and shipping charges. Explain and calculate excise tax. Calculate the tax rate in decimal. Convert tax rate in decimal to percent, per $100 of assessed value, per $1,000 of assessed value, and in mills. Compute property tax due.

 

13)   Read and explain stock quotations. Calculate dividends of preferred and common stocks; calculate return on investment. Read and explain bond quotations. Compare bond yields to bond premiums and discounts. Explain and calculate net asset value and mutual fund commissions. Read and explain mutual fund quotations.

 

14)   Define and calculate the mean, weighted mean, median, and the mode. Prepare a frequency distribution. Prepare bar, line, and circle graphs. Calculate price relatives and cost comparisons. Explain and calculate the range, Define and calculate the standard deviation. Estimate percentage of data by using standard deviations.

 

GENERAL EDUCATION GOAL

All Associate Degree graduates of Bay de Noc Community College will possess those qualities, abilities, skills, and knowledge, which give them new insights, challenge them to consider new possibilities, create community and sensitize them to other perspectives.

 

CRITICAL THINKING AND PROBLEM SOLVING SKILLS OBJECTIVE

 

All Associate Degree graduates of Bay de Noc Community College will demonstrate critical thinking and problem solving skills by identifying and defining a problem, gathering and analyzing data, offering solutions or interpretations, and evaluating their effectiveness.

(1)Graduates will demonstrate the ability to interpret graphs and charts and to solve mathematical problems using basic formulas.

Content related assignments, quizzes, and tests

 

CONDITIONS & CRITERIA

Conditions:.....................Students will obtain the objectives above by learning in an online environment, with instructor and student interaction.

 

Criteria:.......................Students will show their comprehension of above objectives  through assignments, quizzes, and tests. This must be done within a given time frame and a minimum of 60% overall score must be obtained to pass.

 

STUDENT ASSESSMENT/GRADING

Assessment Statement:... All Bay College students will be expected to participate in assessment activities during their course of study at the college. These activities may include participating in assessment of General Education outcomes, classroom assessment for specific course lessons, or assessment of skills

needed for a specific program. The assessments will help instructors and the college make decisions to improve instruction and student learning.

 

Assignments:..................Throughout the semester students will be given various  assignments. Late assignments will not be accepted. It is also to your benefit to do all odd-numbered problems at the end of each chapter, check figures are listed in Appendix B at the back of your book.

 

Quizzes:......................Will be taken every week. All quizzes will be timed and you will have to complete the quiz during the given time format or receive a zero for each problem/answer not completed. The quiz will cover material gone over during the week. Quizzes must be taken by the deadline date, make-ups will not be allowed under any circumstances!!! You may notice that the quizzes may remain up and open beyond their respective deadline dates. This does not mean you can go in and take them after the deadline, I score them by the due date. Even if you take the quiz after the deadline date, you will not receive any credit for it.

 

Tests:........................There will be a mid-term and a final. Each will contain questions and word problems from the chapters we have covered. Formula sheets will be provided and any tables needed will be allowed to be used out of your book.

 

Grading:......................Grades will be assessed on the earning of points on responses to , assignments, quizzes, and tests. Your grade breakdown will consist of: 33.3% for responses, assignments, and quizzes; 33.3% for the mid-term; and 33.3% for the final. The grade book in Blackboard is not always accurate; therefore, do not rely on it for a precise percentage grade. I will post an accurate letter grade at the half and at the end of the class. The grading scale is as follows:

 

•         95-100....................................................................... A
•         90-94........................................................................ A-
•         88-89....................................................................... B+
•         83-87......................................................................... B
•         80-82........................................................................ B-
•         78-79....................................................................... C+
•         73-77......................................................................... C
•         70-72........................................................................ C-
•         68-69....................................................................... D+
•         63-67......................................................................... D
•         60-62........................................................................ D-
•         59-below.................................................................... F

 

Point Scale: (Subject to change)

Homework - 14 @ 10 points each	140
Quizzes - 14 @ 20 points each	280
Midterm Exam	150
Final Exam	150
Total Points	720

 

Homework and quizzes are worth 33.3% or 1/3 of your grade.

The Midterm Exam is worth 1/3.

The Final Exam is worth 1/3.

 

ACADEMIC INTEGRITY AT BAY COLLEGE

Policy:

It shall be the policy of Bay de Noc Community College Board of Trustees that the college provide opportunities for students to gain the knowledge, skills, judgment, and wisdom they need to function in society as responsible citizens. Plagiarism, falsifying data, and other forms of academic dishonesty are inconsistent with the college's goals and mission. Students are expected to pursue their education at Bay College with honor and integrity.

 

FINANCIAL AID POLICY

"Federal Student Aid (FSA) funds are awarded to a student under the assumption that the student will attend school for the entire period for which assistance is received. A student who withdraws after beginning attendance, but prior to completing 60% of the semester, will have their eligibility for FSA grants or loan funds recalculated.  The student may be required to return any unearned funds."

 

Students with Disabilities Policy: Students with a disability that is an obstacle to their success in completing their academic requirements may contact the Student Success Office for assistance. The Director, Marlene Paavilainen, is located in room 819 in the LRC. She may be contacted at 786-5802, ext. 1128 and/or via e-mail: paavilam@baycollege.edu.

 

INSTRUCTOR POLICIES

Due Dates:...Within each chapter you are required to complete the chapter example problems that are located under the assignments button and a chapter quiz located under the assignments, then the quiz button. The due dates for the Example Problems are no later than 12:00 midnight the Sunday following the week of the assigned chapter. For example: if Chapter 6 is scheduled for Week 7(Oct.7-13), you have until the Sunday(Oct. 14) following Week 7 to get your work in. The due dates for the quizzes are 12:00 midnight the Tuesday of this following week. For example: Tuesday(Oct. 17). This will give you time to check out the Example Problem answers located under the assignments button, which will be posted each Monday of the following week they were assigned. We will follow this deadline schedule throughout the semester. If you know of a time when you will have a problem with this you may work ahead, but do not fall behind! Falling behind will result in zeros for all work turned in late or not at all.

 

Submitting Work:...You will be submitting various work to me via the dropbox.  You will need to get in the habit of entering your name on all papers and also putting your initials in the filename before you submit it to me. Otherwise I have 20 files coming in for Chapter 1 homework and I will not know whose is whose. Make sure when you are sending a file to me, you click the send button not the add button. Using the add button will only add the file to your account in Bb, it will not send it to me. When using the dropbox, you will add any file you send to me to your own dropbox, this is automatically done. It is important that you do not delete any of these files from your dropbox until you see a grade entered on your gradesheet for that specific item. In the event that you claim you sent me an assignment and I claim I did not receive it, this will serve as verification that you did send it. Once you notify me that an assignment grade was not entered or you received a zero, I will ask that you to send me a print screen or copy of your dropbox files. This will show me that the assignment was sent and when it was sent. If it was done before the due date, I of course will allow you to resend it for full credit. This is your responsibility and is important to do. After all this is cyber-space and items do get lost!

 

Sites Down:...In the unfortunate event that the Blackboard site would be down,  ample time will be given to complete any work that was not turned in by any deadline dates. If you are having problems with your end of a technological issue, for example trouble getting online because of your Internet Service Provider or trouble with your computer system, it is then your responsibility to find and use an alternate system to complete your work by the given deadlines.

 

Weather...Weather-related information is available on the college's main phone system. Following the greeting, "Hello and welcome to Bay College," press 7 for information on possible cancellations, delays, or college closings due to weather or other emergency situations.

 

Course Withdrawal:...It is the student's responsibility to withdraw from the class if  he or she chooses to do so. You must obtain and complete a drop form from Student Services. Failure to proceed through the proper channels will result in the student receiving an "F" as a course grade. I will allow drops with a grade of a “W” up through the eleventh week of class, any drops after that will receive an “F” as a grade.

 

Honesty:...All students must do their own work! Any student found cheating or plagiarizing on any assignment, quiz, test, or other coursework will receive an "F" for the semester course.

 

Miscellaneous:...Any student who may have a special circumstance that I should  be notified of, shall do so at the beginning of the semester. Whether it be a disability, a need of a tutor, etc. please let me know ASAP.

 

FALL 2009 SEMESTER CLASS DATES

Week 1 --------------------------------------------------------------------------------- Aug. 31 – Sept. 4

Week 2 ------------------------------------------------------------------------------------------ Sept. 7 - 11

Week 3 ---------------------------------------------------------------------------------------- Sept. 14 - 18

Week 4 ---------------------------------------------------------------------------------------- Sept. 21 - 25

Week 5 ---------------------------------------------------------------------------------- Sept. 29 – Oct. 2

Week 6 --------------------------------------------------------------------------------------------- Oct. 5 - 9

Week 7 ------------------------------------------------------------------------------------------ Oct. 12 - 16

Week 8 ------------------------------------------------------------------------------------------ Oct. 19 - 23

Week 9 ------------------------------------------------------------------------------------------ Oct. 26 - 30

Week 10 ---------------------------------------------------------------------------------------- Nov. – 2 - 6

Week 11 ----------------------------------------------------------------------------------------- Nov. 9 - 13

Week 12 ------------------------------------------------------------------------------------- Nov. – 16 - 20

Week 13 --------------------------------------------------------------------------------------- Nov. 23 - 27

Week 14 --------------------------------------------------------------------------------- Nov. 30 – Dec. 4

Week 15 ----------------------------------------------------------------------------------------- Dec. 7 - 11

Week 16 Final Exam Week ------------------------------------------------------------ Dec. 14 - 18

 (You will notice the above weeks start on Monday and end on Friday. We will work on a start on Monday and end on Sunday schedule.)