Application of Linear Functions in the Business World
CHAPTER ONE Introduction 1.1 Origin of the Report
The concept of function is rightly considered as one of the most important in all of mathematics. As the point, the line, and the plane were the basic elements of Euclidean geometry, the dominant theory from the time of Ancient Greece until the Modern Age, the notions of function and derivative constitute the foundation of mathematical analysis, the theory that become central in the development of mathematics since then.
Several fields of business mathematics deal directly or indirectly with functions: mathematical analysis considers functions of one, two, or n variables, studying their properties as well as those of their derivatives; the theories of differential and integral equations aim at solving equations in which the unknowns are functions; functional analysis works with spaces made up of functions; and numerical analysis studies the processes of controlling the errors in the evaluation of all different kinds of functions. Other fields of mathematics deal with concepts that constitute generalizations or outgrowths of the notion of function; for example, algebra considers operations and relations, and mathematical logic studies recursive functions.
1.2 Objectives of the Report
Understanding the concept of functions.
To familiar with the various types of functions.
Understanding linear function and its characteristics.
Sketch the graph of linear function.
Apply linear functions in solving business problems.
1.3 Methodology
The study is application based in nature. Data used in this study are collected basically from the secondary sources.
Secondary Sources:
Text and Other relevant books, Research papers
Class lecture sheets
Websites
Newspapers and Journals.
1.4
The concept of function is rightly considered as one of the most important in all of mathematics. As the point, the line, and the plane were the basic elements of Euclidean geometry, the dominant theory from the time of Ancient Greece until the Modern Age, the notions of function and derivative constitute the foundation of mathematical analysis, the theory that become central in the development of mathematics since then.
Several fields of business mathematics deal directly or indirectly with functions: mathematical analysis considers functions of one, two, or n variables, studying their properties as well as those of their derivatives; the theories of differential and integral equations aim at solving equations in which the unknowns are functions; functional analysis works with spaces made up of functions; and numerical analysis studies the processes of controlling the errors in the evaluation of all different kinds of functions. Other fields of mathematics deal with concepts that constitute generalizations or outgrowths of the notion of function; for example, algebra considers operations and relations, and mathematical logic studies recursive functions.
1.2 Objectives of the Report
Understanding the concept of functions.
To familiar with the various types of functions.
Understanding linear function and its characteristics.
Sketch the graph of linear function.
Apply linear functions in solving business problems.
1.3 Methodology
The study is application based in nature. Data used in this study are collected basically from the secondary sources.
Secondary Sources:
Text and Other relevant books, Research papers
Class lecture sheets
Websites
Newspapers and Journals.
1.4
References: College Algebra with Trigonometry 7th edition by Raymond A. Barnett, Michael R. Ziegler, and Karl E. Byleen, chapter-3,graphs and functions,173 http://en.wikipedia.org/wiki/Linear_function www.columbia.edu/itc/sipa/math/linear.html Youschkevitch, A. P. (1976/77). The concept of function up to the middle of the 19th century. Archive for History of Exact Sciences, 16, 37-85. Ponte, J. P. (1984). Functional reasoning and the interpretation of Cartesian graphs. Unpublished doctoral dissertation, University of Georgia, Athens. http://classroom.synonym.com/real-life-functions-linear-equations-2608.html Functions manual by Michael k.Chirchir and Githii Wainaina