Beginning lecture of business math, introduction to business math.

1. BUSINESS
MATHEMATICS
Lecture Week 1 and 2
An Overview of Business Math and
Some Preliminaries
Ayesha Ashraf
Lecturer Department of Business Administration
University of Sahiwal

2. Learning Objectives
• To describe what business math is.
• To list usages/applications of math in day-to-day life and business.
• To explain math’s problem-solving model of PUPP by J. Olivier.
• To revise basic mathematical concepts
• To learn solving first degree equation in one variable
• To learn solving second degree equation in one variable

3. Business Mathematics
• The study of Math required by the business.
• Business Math used by commercial enterprises to record and
manage business operations.
• Every business field deals with Mathematics because of the
involvement of “money” in business.
• It is the specialized field of Math that deals with money.
• It explains monetary concepts and helps to make smart
decisions with money.

4. Application of Math in day-to-day life
• We are surrounded by numbers.
• People use basic arithmetic operations of addition, subtraction,
multiplication and division in their daily life to solve different
problems.
• Everything requiring any kind of calculation involves
mathematics.

5. Application of Math in Business
• There are different departments in business such as Accounting,
Marketing, Finance, Human Resources, etc and each department
deals with money and therefore has application of Math.
• Purpose of each department is to contribute to earning the money
for business.
• Knowing the rules of Business Math, enterprises can make smart
decisions in order to maximize revenue and minimize the costs.
• Business Math helps to optimize the business operations by
enabling businessmen to act smartly.

6. How to solve a Math problem?
• A systematic approach of solving a Math problem is to follow
“PUPP model” designed by J.Olivier
• This model involves four steps:
P: PLAN
U: UNDERSTAND
P: PERFORM
P: PRESENT

7. 4-Steps of PUPP Model
Plan
• Find out the variable that you need to solve a problem for.
• Determine the end goal of the problem i.e; the result that is being asked
about in the question.
Understand
• Assess what information is already provided.
• Assign values to the variables.
• Design a roadmap to reach from point A to point B.

8. 4-Steps of PUPP Model (Cont’d)
Perform
• Execute the plan.
• This step involves all the calculations that have been designed in step II.
Present
• Explain the solution in context of the question asked.
• Explaining helps to easily detect the errors in the solution.

9. Basic Concept of Solving Equation

10. Class Activity
• List down 10 activities involving Mathematics that you perform
in your daily life.
• Choose any occupation/job and list down as many activities as
you may find, that involve Mathematics.

11. Some Preliminaries

12. Solving First Degree Equation in One Variable
Equation
• An equation sates the equality of two algebraic expression. The
algebraic expression may be stated in term of one or more
variables.
• Following are the examples of equations.
3x-10= 22-5x
16x − 54 = 15x − 32

13. Examples
• x-5= 2x-8
• x-10= 3x-5
• 2x+4=16-x
• 3t+10= 4t-6
• 3-5t=3t-5
• 3(2x-8)=4(7+x)
• 3y-10=6y+4

14. Practice Questions

15. Practice Questions (Cont’d)

16. Solving Second Degree Equation in One Variable
A second degree equation involving the variable x has the generalized form
𝒂𝒙𝟐
+ 𝒃𝒙 + 𝒄 = 𝟎
Where a,b,c are the constants with the added provision that 𝒂 ≠ 𝒐. Second
degree equations are usually called quadratic equations.
Solving Quadratic Equations
Factoring Method
Quadratic Formula

17. Factoring Method

18. Quadratic Formula

19. Reference
• For further reading see the books:
• Applied mathematics for business, economics, and the social
sciences by Frank S. Budnick 4th edition
• Business Math by J. Olivier
• College Mathematics for Business, Economics, Life Sciences,
and Social Sciences by Raymond A. Barnett 13th edition

20. Query
• In case of any query contact me at: ayesha@uosahiwal.edu.pk
• You can also ask questions via Google Classroom

21. Thank you