Documente Academic
Documente Profesional
Documente Cultură
1/2
3
+....
for p [0,1],where is the central difference and G
2n
=
G
2n+1
= where is the binomial coeffcient
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7.5.5 Newton-Gauss Backward Method
This is also known as Newton Gregory backward formula
Its applicability is described below
When the argument x advances with the equal jumps
When the x-value to be interpolated lies near the end of the series
Diagonal difference table is used in Newtons backward formula, but the differences are used in reverse
order.
Quantitative Techniques
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Summary
Algebraic expressions in which the variables concerned have only non-negative integral exponents are called
polynomials
The standard form of a polynomial in one variable is that in which the terms of the polynomial are written in
the decreasing order of the exponents of the variable
Interpolation provides us the missing quantity of a series so that we can establish the while extrapolation are
the techniques of obtaining the most likely estimates of certain quantity under certain assumptions
Methods of Interpolation are Graphical method, Lagranges Method, Newton-Gauss Forward Method, Newtons-
Gauss Backward method. etc.
Lagranges interpolating polynomial is another very good formula for interpolation
This method has no restriction on the x-variable whether it should be equally spaced or not
Gauss Forward Formula is
f
p
=f
0
+p
1/2
+G
2
0
2
+G
3
1/2
3
+....
References
Jain, T. R.. and Sandhu, A. S., 2006-07, Quantitative Methods: Interpolation, VK Publication, pp 7.1-7.38.
Agarwal, B. R., 2007. Programmed Statistics, Interpolation, 2nd ed., New Age International, pp 405-425.
Kumar, S., 2008, Polynomial Interpolation, [Video Online] Available at: < http://www.youtube.com/
watch?v=Oy3uudRXolE > [Accessed 31 August 2012].
Kumar, S., Numerical Methods and Programming, [Video Online] Available at: < http://www.youtube.com/
watch?v=ZG_TgdyDrf0 > [Accessed 31 August 2012].
Interpolation , [Online] Available at: < http://www.mathworks.com/moler/interp.pdf > [Accessed 31 August
2012].
Bourke, P., Interpolation methods, [Online] Available at: < http://paulbourke.net/miscellaneous/interpolation/
> [Accessed 31 August 2012].
Recommended Reading
Waters, D., 2006. Quantitative Methods for Business, Interpolation, 4th ed., Prentice Hall Publication.
Bedward, D., 1999. Quantitative methods, Interpolation, Elsevier.
Slater, J, C., 2007. Quantitative Methods, Interpolation of Polynomials, Thomson Learning.
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Self Assessment
Graphical Interpolation method is_____. 1.
Simple a.
Algebrical b.
Fully reliable c.
Reliable d.
Interpolation is helpful in estimating: 2.
A series a.
An intermediary value of given argument b.
Entry of alternative values c.
A series of value d .
Lagrange Formula is useful for _____ 3.
Interpolation a.
Arithmetic functions b.
Inverse range c.
Inverse extrapolation d.
Lagranges polynomials interpolation can be used even if; 4.
The given arguments are not equally spaced a.
Extrapolation is to be done b.
Inverse interpolation is to be done c.
Relation to be mapped d.
Interpolation formulae are based on the fundamental assumptions that the data can be expressed as; 5.
A linear function a.
A quadratic function b .
A polynomial function c.
A binomial function d.
The problems of interpolation are simpler than prediction because; 6.
Interpolation has fewer restrictions than prediction a.
Interpolation is based on more stringent restriction than prediction b.
There are no restriction than interpolation c.
It is easier to fnd out d.
________ is simplest method of Interpolation. 7.
Graphical method a.
Langranges method b.
Interpolation method c.
Inverse method d.
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In which method the data is represented in graph? 8.
Langranges method a.
Interpolation method b.
Inverse method c.
Graphical method d.
The value to be interpolated is different from the ______ value. 9.
equivalent a.
equal b.
equidistant c.
equillibrium d.
_________ provides us the missing quantity of a series. 10.
Interpolation a.
Graphical method b.
Lagranges method c.
Newtons method d.
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Chapter VIII
Consumer Arithmetic
Aim
The aim of this chapter is to:
defne proft and loss
explicate interest
explain recurring deposit
Objectives
The objectives of this chapter are to :
discuss types of interest
elucidate present worth
describe the concept of discount
Learning outcome
At the end of this chapter, you will be able
understand import terms in proft and loss
compare simple and compound interest
underst and discount
Quantitative Techniques
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8.1 Introduction: Proft and Loss
In olden days every one produced or made what they needed. In case there was an excess produced I was an excess
produced it was exchanged with others for mutually required goods. The exchange was need based. The system was
known as barter. However, as time passed people found it was better to take produce/goods from a person who
was good at producing them.Thus, the system of exchange of goods and services for money began. The introduction
of the monetary system gave rise to the concept of gain or loss in the exchange and thus concept of proft and loss
was born.
Example
A pair of shoes has been bought by the shopkeeper from a cobbler. The cobbler had sold the shoes to the shopkeeper for
Rs.150.To make the shoes the cobbler had spent Rs.100 on raw material. The shopkeeper spent Rs.20 on transporting
the pair of shoes from the cobbler to the shop. The shopkeeper had also bought a box of Rs 5 as packaging for the
pair of shoes. The shopkeeper fxes the price for those shoes as Rs.300 and a customer purchases it after bargaining
for Rs.250.
The price at which the goods are sold is known as selling price (SP). In the above example Rs.150 is the selling
price for the cobbler and Rs.250 is the selling price for the shopkeeper.
The price at which the goods are bought is known as cost price(CP). In the above example the cost price for
the shopkeeper is 175(cost paid to the cobbler+transportation+packaging), while Rs.250 is the cost price for
the lady.
The cost occurred in relation to the goods apart from the actual cost of the goods is known as overhead charges.
In the above example the overhead charges is Rs.25.(Cost of transportation Rs.20+cost of Packaging Rs.5)
If selling price is more than the cost price, then it is said the seller has made a proft/gain. In the above example
the proft for the cobbler is Rs.50 (selling price of the cobbler raw material cost for the cobbler).The proft for
the shopkeeper is Rs.75 (selling price of Rs.250-cost price of Rs 175).
If the selling price is less than the cost price ,then it is said the seller has made a loss. In the above example if
the shopkeeper had sold the shoes for Rs150 ha would have made a loss(cost price of Rs 175 Selling Price
of Rs.150)
The price at which the goods are intended to be sold is known as marked price. In the above example Rs.300 is
the marked price of the shoes .Marked price is also known as the List price or quoted price.
When the Selling price is lesser than the marked price, it is said that the seller has given a discount.In the above
example the customer has given a discount of Rs.50 (marked price of Rs.300-selling price of Rs 250).This
discount is also known as trade discount.
The price at which the goods are sold after discount is known as net price. In the above example the net price
is Rs.250.
8.1.1 Formulae
Proft = selling price cost price
Loss = cost price selling price
Gain%=(Gain/cost price)* 100
Loss%=(Loss/cost price)*100
If the cost price and gain is given then selling price = [(100+gain%)*cost price]/100
If the cost price and Loss% is given the selling price =[(100-loss%)*cost price]/100
If the selling price and gain% is given that cost price= (100*selling price)/ (100+gain %)
If the selling price and loss% is given then cost price = (100*selling price)/ (100-loss %)
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The points to remember are as follows:
If the marked price is different from the selling price, then the proft/loss is calculated on the selling price.
Percentage gain or loss is calculated on the cost price and not the selling price.
Proft or loss on Rs 100(cost price) is called proft or loss Percent age respectively.
Proft is also referred to as gain
Discount is always given on the market price.
8.2 Interest
Interest is a fees paid by a borrower of assets to the owner of the assets as form of compensation for the use of assets.
It is most commonly the price paid for the use of money or money earned by the deposited funds.
Illustration:
When we give our house for someone to live in we get a rent and we get the house back after completion of the
lease tenure, similarly when we lend our money to someone we get interest and after completion of the tenure we
get our money back.
8.2.1 Terms Used
When a person borrows money he has to pay some extra amount to the lender for using his money. The extra
money paid to the lender is known as Interest.
The money that is initially borrowed/lent/invested is known as Principle.
The total sum of principle and interest is known as Amount.
The percentage gain in principle is known as Rate of interest.
The tenure for which the principle is borrowed/lent/invested is known as Time period.
8.2.2 Simple Interest
Simple interest is where the interest is paid to the investor/lender as and when it is due. Only principle is reinvested/
renewed.
8.2.2.1 Formulae
Let P=Principle
A=Amount
R=Rate of Interest
T=Time period
I=Interest
S.I=Simple Interest
Then
S.I = (P*R*T)/100
P= (100*S.I)/(R*T)
R= (100*S.I)/ (P*T)
T= (100*S.I)/ (P*R)
The points to remember are as follows:
For simple interest time period is always calculated in years. If the time period is given in months then it has
to be converted into years.
To convert time period from months to year divide the time period by 12 to get the time period in years. Example
if the amount has been given for 5 months then the time period is 5/12 years.
Rate of interest unless specifed is taken as one year.
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8.2.3 Recurring Deposit
Recurring deposit is a deposit in which fxed sum of money is deposited at a regular interval for a specifed period.
After the fxed period is over,the depositor gets his full money back and an interest.
The points to remember are as follows:
A recurring scheme is like a piggy bank where you deposit small sums of money at fxed intervals to get a
consolidated amount at the end of the scheme.
In a recurring scheme the interest is calculated per interval(monthly,half yearly,annually etc..) at a fxed rate.
In a recurring deposit ,interest and the total amount accumulated is given at the end of the scheme period.
In the recurring deposit the amount deposited for the 1
st
month will get an interest for the fxed period say n
months.The amount deposited for the 2
nd
month will get interest for (n-1) months and so on.
8.2.3.1 Formulae
Total principle at maturity=Recurring amount x {n(n+1)/2} where n is the period for which the 1
st
installment
is deposited
Simple Interest =
The time period is calculation is taken as 1 month as we have already normalized the principle and hence
t=1/12
Total amount at the end of the scheme =Total principle at maturity + interest
8.2.4 Compound Interest
Compound Interest is where the interest is not paid to the investor/lender as and when it is due but is added to the
principle at the end of the time period agreed upon. The interest is added to the principle and that becomes the
principal for the next tenure.
8.2.4.1 Formulae
Let P =Principle
A=Amount
R=Rate of Interest
T=Time period
N=Number of times the interest is due in a year
I=Interest
C.I=Compound Interest
Then
Amount= P[1+R/100]
NT
C.I =Amount Principle
Present Worth=A/[1+R/100]
T
Present worth is nothing but the principle invested
Condition 1: Principal = Rs p, time =t years and rate =r% and number of times the interest is due in 1 year =1.
Then the amount after t years is = p[1+r/100]
1*t
Condition 2: Principle =rs p; time =t years and a fraction of year[Ex 5 2/5 years] and number of times the interest
is due in 1 year =1.Then the amount after 5 2/5 years = [p(1+r/100)
1*5
](1+2r/5*100)
For the fraction of the year the rate will be rate per annum * fraction of year
Condition 3:Principle =Rs p,Time=t years and rate =r% p.a and number of times the interest is due in 1 year
=3.Then amount after t years is
=p [1+r/ (3x100)]
3*t
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Similarly, principal=Rs.p, Time =t years and rate =r% p.a and number of times the interest is due in 1 year =2
Then amount after t years is =p[1+r/(2 x 100)]
2 * t
Condition 4: Principle = Rs p, Time = t years and rate =r
1
% for the frst year, r
2
% for the second year.
r
t
% for the t
th
year. The amount after t years is = p(1+r
1
/100)(1+r
2
/100)(1+r
3
/100)(1+r
t
/100)
The points to be remembered are as follows:
For compound interest time period is always calculated in y years.If the time period is given in months then it
has to be converted into years.
Rate unless specifed is always for a year
If the interest is computed more than once in a year then,rate r =rate per annum ( R ) /number of times interest
is computed in a year ( N ).
If a sum P is borrowed at r% per annum and compound interest is calculated quarterly or half yearly,then the
compound interest for 1 year is called the effective annual rate.
The amount at the end of a certain time period increases as the number of times the compound interest is
calculated in a year increases i.e if two people put the same principle for the same time period on compound
interest but ,one computed interest half yearly and the other yearly then the person who is getting interest half
yearly and the other yearly then the person who is getting interest half yearly will get more amount at the end
of the tenure.
Solved Examples
Example 1
A man sells a pen at a proft of 20% .Had he bought it at 20% less and sold it for Rs 5 less,he would have gained
25% .What is the CP of the pen?
Solution:
Let the CP be Rs 100; given Gain=20% therefore SP =120
New CP=20% less=Rs 80
If gain is 25%, then SP= Rs (125*80)/100=Rs 100
Therefore if the difference in SP =Rs (120-100)=Rs 20
If the difference in SP is Rs 20, CP is Rs 100
If the difference in SP is Rs 5, CP is
Rs (100*5/20) =Rs 25
Example 2
If the SP of 10 articles is the same as the CP of 11 articles, fnd the gain percent.
Solution
Let the CP of 1 article be Re.1
Therefore CP of 10 articles=Rs 10
SP of 10 articles= CP of 11 articles = Rs 11
Therefore gain%=(11-10) x 100/10 =10%
Example 3
A man loses 10% by selling a book for Rs 144.What should be his selling price to gain 15?
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Solution
SP=Rs 144 loss=10%
Therefore CP=Rs(100 *144)/(100-10)=Rs.160
Gain expected = 15%
Therefore SP=Rs(115*160)/100=Rs184
Example 4
A man sells two radios for Rs 924 each. On one he gains 12% and on the other he loses 12%.How much does he
gain or lose on the whole?
Solution:
SP of one radio =Rs 924 Gain=12%
CP of this radio=Rs (100*924)/112=Rs 825
SP of other radio = Rs 924 Loss=12%
CP of this radio = Rs (100*924)/88=Rs 1050
Total CP=Rs (825+1050) =Rs 1875,
Total SP= Rs (924+924) =Rs 1848
Therefore Loss% = (27 *100)/1875=1.44%
Example 5
What will be the simple interest on Rs 625 at 6.5% per annum for 2.5 years?
Solution
S.I=Rs (625 *6.5 * 2.5)/100=Rs.101.56
Example 6
A man borrowed Rs 2500 from two money lenders.He paid interest at the rate of 12% per annum for one loan and
at the rate of 14% per annum for other .The total interest he paid for the entire year was Rs.326.How much did he
borrow at each rate?
Solution
Let he borrow Rs X at 12% and Rs (2500-x) at 14% p.a
S.I on Rs x= Rs (x)(12)(1/100) = Rs 3x/25
S.I on Rs(2500-x)=Rs (2500-x)(14)(1/100)
=Rs (17500-7x)/50 therefore x=Rs 1200 Thus ,he borrows Rs 1200 at 12% and 1300 at 14%.
Example 7
Find the compound interest on Rs 4000 for 9 months at 6% per annum,the interest being reckoned i)Quarterly ii)
Half yearly
Solution
Principle =Rs 4000, Time =9 months=3 quarters rate=6% per annum =6/4=3/2 % per quarter. Therefore i.
Amount=Rs[4000 x {1+(3/2)/100}
3
]=4182.71
Compound interest = Rs (4182.71-4000) =182.71
Principle=Rs 4000 Time = 9 months =1.5 half years rate= 6% per annum =3% half yearly ii.
Therefore amount Rs[4000(1+3/100){1+3/2)/100}]=Rs 4181.80
Compound interest =Rs(4181.80-4000=Rs181.80
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Summary
The price at which the goods are sold is known as selling price (SP).
The price at which the goods are bought is known as cost price(CP).
If selling price is more than the cost price, then it is said the seller has made a proft/gain.
If the selling price is less than the cost price ,then it is said the seller has made a loss.
The price at which the goods are intended to be sold is known as marked price.
When the Selling price is lesser than the marked price ,it is said that the seller has given a discount.
Proft = selling price cost price
Loss = cost price selling price
Gain%=(Gain/cost price)* 100
Loss%=(Loss/cost price)*100
Interest is a fees paid by a borrower of assets to the owner of the assets as form of compensation for the use of
assets.
Simple interest is where the interest is paid to the investor/lender as and when it is due. Only principle is
reinvested/renewed.
S.I = (P*R*T)/100
Recurring deposit is a deposit in which fxed sum of money is deposited at a regular interval for a specifed
period.
Compound Interest is where the interest is not paid to the investor/lender as and when it is due but is added to
the principle at the end of the time period agreed upon.
Amount= P[1+R/100]
NT
C.I =Amount Principle
References
Veena, G. R., 2006. Business Mathematics, Commercial Arithmetic, New Age International Publishers.
Aggarwal, R. S., 2008. Quantitative Methods, S.Chand Publications.
Sadler, W., Commerce Arithmetic, [Online] Available at: < http://books.google.co.in/books/about/Commercial_
arithmetic.html?id=CCBRAAAAYAAJ&redir_esc=y > [Accessed 31 August 2012].
Krisch, A ., An Analysis of commercial Arithmetic, [Online] Available at: < http://www.springerlink.com/content/
k8537j674x3w0031/ > [Accessed 31 August 2012].
Kumar, S., 2008, Polynomial Interpolation, [Video Online] Available at: < http://www.youtube.com/
watch?v=Oy3uudRXolE > [Accessed 31 August 2012].
Kumar, S., Numerical methods and programming, [Video Online] Available at: < http://www.youtube.com/
watch?v=ZG_TgdyDrf0 > [Accessed 31 August 2012].
Recommended Reading
Moore, J. H., 2008. New Commercial Arithmetic, Bibliobazaar LLC.
Morgan, A. D., 1900. Elements of Arithmetic, Taylor and Walton.
Calder, F., 1852. Elementary Rules of Arithmetic.
Quantitative Techniques
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Self Assessment
The price at which the goods are sold is known as _______. 1.
selling price a.
cost price b.
marked price c.
net price d.
The price at which the goods are bought is known as ______. 2.
selling price a.
cost price b.
marked price c.
net price d.
The price at which the goods are intended to be sold is known as ___________ . 3.
selling price a.
cost price b.
marked price c.
net price d.
When the Selling price is lesser than the marked price ,it is said that the seller has given a ______ . 4.
proft a.
discount b.
loss c.
gain d.
If the selling price is less than the cost price ,then it is said the seller has made a _____. 5.
proft a.
discount b.
loss c.
gain d.
A man sells a pen at a proft of 20% .Had he bought it at 20% less and sold it for Rs 5 less, he would have gained 6.
25% .What is the CP of the pen?
20 a.
22 b.
23 c.
25 d.
If the SP of 10 articles is the same as the CP of 11 articles, what is the gain percent? 7.
7 a.
10 b.
9 c.
8 d.
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What will be the simple interest on Rs 625 at 6.5% per annum for 2.5 years? 8.
101.56 a.
102.56 b.
103.56 c.
104.56 d.
What is the compound interest on Rs 4000 for 9 months at 6% per annum,the interest being reckoned 9.
Quarterly?
181.70 a.
182 b.
182.71 c.
183 d.
_________ is a fees paid by a borrower of assets to the owner of the assets as form of compensation for the 10.
use of assets.
SI a.
CI b.
Recurring c.
Interest d.
Quantitative Techniques
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Chapter IX
Relations and Functions
Aim
The aim of this chapter is to:
defne function
introduce the mathematical concept of relation
highlight the domain of a relation
Objectives
The objectives of this chapter are to:
explain the range of a relation
elucidate the concept of range, image and co-domain
explicate the break even analysis
Learning outcome
At the end of this chapter, you will be able to:
understand the formula for calculating the total cost
comprehend different ways to write a relation
undersatnd the functi on notation
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9.1 Relation
A relation is just a set of ordered pairs. There is absolutely nothing special at all about the numbers that are in a
relation.
In other words, any bunch of numbers is a relation so long as these numbers come in pairs. In maths Relation is just
a set of ordered pairs.
Note: {} is the symbol for SET. Example: {(0, 1), (55, 22), (3,-50)}
9.2 Domain and Range of a Relation
The Domain is the set of all the frst numbers of the ordered pairs.
In other words, the domain is all of the x-values.
The Range is the set of the second numbers in each pair, or the y-values.
Example: if Relation is {(0, 1), (55, 22), (3,-50)}, then
Domain is {0 55 3} Range is {1 22 -50}
NOTE: when writing the domain and range, do not repeat the values
Relation can be written in several ways;
Ordered Pairs
Table
Graph/mapping.
Examples:
What is the domain and range of the following relation?
{(-1, 2), (2, 51), (1, 3), (8, 22), (9, 51)}
Ans:
Domain: -1, 2, 1, 8, 9
Range: 2, 51, 3, 22, 51
What is the domain and range of the following relation?
{(-5,6), (21, -51), (11, 93), (81, 202), (19, 51)}
Ans:
Domain: -5, 21, 11, 81, 19
Range: 6, -51, 93, 202, 51
9.3 Functions
A function is a relationship between two sets of numbers.
We may think of this as a mapping; a function maps a number in one set to a number in another set. Notice that a
function maps values to one and only one value.
Two values in one set could map to one value, but one value must never map to two values: that would be a
relation, not a function.
Example
If we write (defne) a function as:
f(x) = x
2
then we say: f of x equals x squared and we have,
f( - 1) = 1 f(1) = 1 f(7) = 49
Quantitative Techniques
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f(1 / 2) = 1 / 4
f(4) = 16 and so on.
9.3.1 Range, image, co-domain
If D is a set, we can say,
, which forms a new set, called the range of f.
D is called the domain of f, and represents all values that f takes. In general, the range of f is usually a subset of a
larger set.
This set is known as the co-domain of a function.
Example: With the function f(x) = cos x, the range of f is [-1, 1], but the co-domain is the set of real numbers.
Notations
When we have a function f, with domain D and range R, we write: If we say that, for instance, x is mapped
to x
2
, we also can add
Notice that we can have a function that maps a point (x, y) to a real number, or some other function of two
variables.
We have a set of ordered pairs as the domain.
Recall from set theory that this is defined by the Cartesian product. If we wish to represent a set of
all real-valued ordered pairs we can take the Cartesian product of the real numbers with itself to obtain
.
When we have a set of n-tuples as part of the domain, we say that the function is n-ary (for numbers n=1,2 we say
unary, and binary respectively).
9.4 Break Even Analysis
Break-even analysis is a technique widely used by production management and management accountants.
It is based on categorising production costs between those which are variable (costs that change when the
production output changes) and those that are fxed (costs not directly related to the volume of production).
Total variable and fxed costs are compared with sales revenue in order to determine the level of sales volume, sales
value or production at which the business makes neither a proft nor a loss (the break-even point).
In its simplest form, the break-even chart is a graphical representation of costs at various levels of activity shown
on the same chart as the variation of income (or sales, revenue) with the same variation in activity.
The point at which neither proft nor loss is made is known as the break-even point and is represented on the
chart below by the intersection of the two lines:
NOTE: The Break Even point is the point where the revenue from sales is equal to the cost of production.
For Calculating Total cost, we should know that,
Proft (P) = Revenue (R) Cost (C).
Where,
Total Cost = Fixed cost + Variable Cost.
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Summary
A relation is just a set of ordered pairs. There is absolutely nothing special at all about the numbers that are in
a relation.
In other words, any bunch of numbers is a relation so long as these numbers come in pairs.
The Domain is the set of all the frst numbers of the ordered pairs, and the Range is the set of the second
numbers in each pair, or the y-values.
A function is a relationship between two sets of numbers.
Two values in one set could map to one value, but one value must never map to two values: that would be a
relation, not a function.
Break-even analysis is a technique widely used by production management and management accountants.
References
Jain, T. R., Quantitative Methods, 2nd ed., FK Publication.
Waters, D., 2006. Quantitative Methods for Business, 4th ed., Prentice Hall Publication.
Author Stream, Relation and Functions [Online] Available at: <www.authorstream.com/.../sadamava-373982-
2-1-relations-functions-ppt-relationsfunctions-powerpoint-education />. [Accessed 31August 2012].
Prof.Kamla, Discrete Mathematics, [Video Online] Available at: < http://www.youtube.com/watch?v=7cTWea9YAJE
> [Accessed 31 August 2012].
Simonson, S., Discrete Mathematics, [Video Online] Available at: < http://www.youtube.com/watch?v=_
FG9hhiZipo > [Accessed 31 August 2012].
Recommended Reading
Waters, D., 2006. Quantitative Methods for business, 4th ed., Prentice Hall Publication.
Bedward, D., 1999. Quantitative methods, Elsevier.
Slater, J, C., 2007. Quantitative Methods, Thomson Learning.
Quantitative Techniques
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Self Assessment
What is the domain of the following relation? 1.
{(-1, 2), (2, 51), (1, 3), (8, 22), (9, 51)}
{-1,2,1,8,9} a.
{2,51,3,22,51} b.
{-1,2,51,1,3} c.
{1,3,8,22,9} d.
What is the range of the following relation? 2.
{(-5, 6), (21, -51), (11, 93), (81, 202), (19, 51)}
{-5,21,11,81,19} a.
{6,-51,93,202,51} b.
{-1,2,51,1,3} c.
{1,3,8,22,9} d.
Which 3. relations below are functions?
Relation #1 {(-1, 2), (-4, 40), (1, 2), (8,-51)} a.
Relation #2 {(13, 14), (13, 5) , (16,7), (18,13)} b.
Relation #3 {(3, 90), (4, 54), (6, 71), (8, 90)} c.
Relaton #4 {(1,3)(2,4)(2,5)(3,4)} d.
Which 4. relations below are functions?
Relation #1 {(3,4), (4,5), (6,7), (8,9)} a.
Relation #2 {(3,4), (4,5), (6,7), (3,9)} b.
Relation #3 {(0,4), (4,-5), (0,0), (8,9)} c.
Relation #4 {(8, 11), (34,5), (6,17), (8,19)} d.
Which 5. relations below are functions?
Relation #1 {(3,4), (4,5), (6,7), (3,-9)} a.
Relation #2 {(3,4), (4,5), (6,7), (5,4)} b.
Relation #3 {(0,4), (4,-5), (0,0), (8,9)} c.
Relation #4 {(8, 11), (34,5), (6,17), (6,19)} d.
For the following relation to be a function, 6. X cannot be what values?
{(8, 11), (34,5), (6,17), (X ,22) }
a. 8, 34, 6
b. 11, 5, 17
c. 8, 34, 6, 11, 5, 17, 22
d. 8, 34, 6, 11, 5, 17
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For the following relation to be a function, 7. X cannot be what values?
{(12,14), (13,5) , (-2,7), (X,13)}
12, 13, -2 b. 14, a.
5,7,13 b.
c. 12, 13,-2, 14, 5,7,13 c.
d. 12,13,-2,14,5,7 d.
For the following relation to be a function, 8. X cannot be what values?
{(12, 13), (-11, 22), (33, 101), (X ,22)}
12, -11, 33 a.
13, 22, 101 b.
12, -11, 33, 13, 22, 101, 22 c.
12, 33 d.
Suppose the weights of four students are shown in the following table. 9.
Student 1 2 3 4
Weight 120 100 150 130
Find domain
{1, 2, 3, 4} a.
{120,100,150,130} b.
{2,3,4} c.
{1,3,5} d.
10.
udent 1 2 3 4
Weight 200 190 100 100
Find Range.
{200,190,100,100} a.
{200,100} b.
{200.190} c.
{200.190.100} d.
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Chapter X
Statistics
Aim
The aim of this chapter is to:
defne statistics
introduce the concept of classifcation
explain the applications of statistics
Objectives
The objectives of this chapter are to:
explain the functions of statistics
explicate the limitations of statistics
elucidate the frequency distribution
Learning outcome
At the end of this chapter, you will be able to:
understand the characteristics of statistics
comprehend the characteristics of classifcation
enlist the characteristi cs of classifcation
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10.1 Introduction
Statistics can be referred as a subject that deals with numerical facts and fgures. It is the set of mathematical tools
and techniques that are used to analyse data. The word statistics is said to have been derived from the German word
Statistics meaning political science or from Old Italian word stato meaning state or from New Latin word status
meaning of which is position or form of government or political state. Statistical analysis involves the process of
collecting and analysing data and then summarising the data into a numerical form.
10.2 Defnition of Statistics
The word statistics refers either to quantitative information or to a method of dealing with quantitative
information.
There are many defnitions to the term statistics given by different authors which are as given below:
Prof.A.L.Bowley defned statistics as Numerical statement of facts in any department of enquiry placed in
relation to each other.
Webster defned statistics as The classifed facts respecting the condition of the people in a state especially those
facts which can be stated in numbers or in tables of numbers or in any tabular or classifed arrangement.
10.3 Scope and Applications of Statistics
Statistics is associated with almost all the sciences as well as social, economic and political activities. The applications
of statistics are so numerous and it is of great use to human beings in many ways. Science has become so important
today that hardly any science exists independent of this and hence the statement-Science without Statistics bear
no fruit; Statistics without Science has no root.
Statistical data and statistical methods are helpful in proper understanding of the economic problems and help
in solving a variety of economic problems such as wages, prices, analysis of time series etc. Statistical methods
help in formulating economic policies and in evaluating their effect
Statistical methods are being widely used in all business and trade activities like production, fnancial analysis,
distribution, costing, market research, man power planning, business forecasting etc. Business executives and
managers rely mainly on statistical techniques to study the need and desire of the consumers.
In industry, statistics is widely used in quality control. To fnd whether the product is confrming to specifcations
or not, statistical tools like inspection plans, control charts etc are of great use
A governments administrative system is fully dependent on production statistics, income statistics, labour
statistics, economic indices of cost, price etc. All the departments of a government depend upon statistics for
effcient functioning
In biology, medicine and agriculture, statistical methods are applied in the study of growth of plant, movement
of fsh population in the ocean, migration of birds, effect of newly invented medicines, theories of heredity,
estimation of yield of crop, effect of fertiliser on yield, birth rate, death rate, population growth, growth of
bacteria etc
10.4 Characteristics of Statistics
Some of its important characteristics are given below:
Statistics are aggregates of facts
Statistics are numerically expressed
Statistics are affected to a marked extent by multiplicity of causes.
Statistics are enumerated or estimated according to a reasonable standard of accuracy.
Statistics are collected for a predetermine purpose
Statistics are collected in a systemic manner
Statistics must be comparable to each other
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10.5 Functions of Statistics
The various functions of statistics are as given below:
It simplifes the mass of data. With the help of statistical methods, the complex data is simplifed into diagrammatic
and graphical representations averages etc.
It presents the facts in a defnite form. Facts that are expressed in numbers are more convincing than expressed
in statements. Statistics helps to present the data or facts in precise and defnite form for easy understanding.
It helps in comparison of data of same kind.
Statistical methods are extremely helpful in formulating and testing hypothesis and developing new theories.
It helps to predict future trends and to estimate any value of the population from the sample chosen.
It helps in bringing out the hidden relations between variables.
With the help of statistics, decision making process becomes easier.
10.6 Limitations of Statistics
Statistics, inspite of being widely used in many felds and being involved in every sphere of human activity, faces
certain limitations which are as follows:
Statistics does not deal with qualitative aspects like honesty, intelligence etc. It deals with only quantitative
data.
It does not study individual facts because individual items taken separately do not form a statistical data.
Statistical methods can be applied only to the aggregate of facts.
Statistical tools do not provide the best solution to problems under all circumstances. It is one of the methods
of studying a problem and it should be supplemented by some other methods.
Statistical analysis is based on probability and not on certainty. So statistical results are not universally true and
they are true only on an average.
Common man cannot handle statistics properly, only statisticians can handle statistics properly.
The most important limitation of statistics is that they are liable to be misused and misinterpreted. Increasing
misuse of statistics has led to increasing distrust in statistics.
10.7 Classifcation
Classifcation refers to grouping of data into homogeneous classes and categories. A group or a class category has
to be determined on the basis of the nature of the data and the purpose for which it is going to be used.
10.8 Objectives of Classifcation
To condense the mass of data: Statistical data collected during the course of an investigation is in the raw form.
With raw data we cant make any conclusion unless it is properly classifed into small groups or classes.
To prepare the data for tabulation: Only classifed data can be presented in the tabular form.
To study the relationships: Relationship between the variables can be established only after the various
characteristics of the data have been known, which is possible only through classifcation.
To facilitate comparison: Classifcation helps us to fnd conclusions based on the comparison of variables.
10.9 Characteristics of Classifcation
The following are general guiding principles for a good classifcation.
Exhaustive: Classifcation must be exhaustive. i.e. each and every item in the data must belong to one of the
classes.
Mutually exclusive: Each item of information should ft only in one class, i.e. overlapping of items is not
allowed.
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Suitability: The classifcation should conform to the object of inquiry. For example, if the study is regarding the
economic condition of workers then classifcation must not be done on the basis of their religion.
Homogeneity: The items included in each class must be homogeneous; else there should be further classifcation
in to sub groups.
Flexibility: A good classifcation should be fexible. It should be adjustable. To the new and changed situations
and conditions.
Stability: The basic principle of classifcation should be retained throughout.
10.10 Frequency Distribution
A classifcation according to the number possessing the same value of the Variable is known as frequency distribution
of the given raw data.
Tally Marks (|): It facilitates counting the frequency of a value of a variate in a systematic manner. The distinct
values of the variate are written down in ascending or descending order in a column. As we go through the given
raw data, one by one a tally mark is inserted in each case against the respective value. It will be easy to count if
tally marks are arranged in blocks of fve i.e. every ffth tally mark is marked by a slanting line over the preceding
four. For example for the value of variate 5 we can give tally marks as ||||, for the value of variable 13 we can give
tally marks as|||| |||||||.
10.10.1 Discrete or Ungrouped Frequency Distribution
The ungrouped frequency distribution is quite handy if the values of the variables are largely repeated otherwise
there is hardly any condensation.
10.10.2 Continuous or Grouped Frequency Distribution
In this form of distribution the frequencies refer to groups of values. This becomes necessary in the case of some
variables which can take any fractional value and in whose case an exact measurement is not possible. e.g. the
height, Weight income ,etc.
10.10.3 Cumulative Frequency Distribution
In cumulative distribution, the cumulative frequencies (c.f.) are derived by successively adding the frequencies
of the successive individual class intervals. The cumulative frequency of a given class can be represented by the
total of all the previous class frequencies including the frequency of that class. There are two types of cumulative
frequencies.
less than type: It will represent the total frequency of all classes less than and equal to the class value to which
it relates.
more than type: It will represent the total frequency of classes more than and equal to the class value to which
it relates.
Quantitative Techniques
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Summary
Statistics helps in creating more effciency in the decision making process
Statistics can be said as a collection of methods for planning experiments, obtaining data, and then organising,
summarising, presenting, analysing, interpreting, and drawing conclusions
The purpose of statistics is to obtain some overall understanding of group characteristics
It is important to know how to understand statistics so that improper judgments are not made
Statistics does not deal with qualitative aspects like honesty, intelligence etc. It deals with only quantitative
data.
It does not study individual facts because individual items taken separately do not form a statistical data.
Exhaustive: Classifcation must be exhaustive. i.e. each and every item in the data must belong to one of the
classes.
Homogeneity: The items included in each class must be homogeneous; else there should be further classifcation
in to sub groups.
Flexibility: A good classifcation should be fexible. It should be adjustable. To the new and changed situations
and conditions.
Stability: The basic principle of classifcation should be retained throughout.
References
Sharma, J. K., 2009. Business Statistics, 4th ed., Dorling Kindersley Pvt. Ltd.
Jain, T. R. and Agarwal, S. C., 2009.10. Statistics for BBA, Statistics, VK Enterprises.
Medhi, J., 2005. Statistical Methods, Methods of Data Collection, 1st ed., New Age International Publishers,
pp8-12.
Rajagopalan, S. P. and Sattanathan, R., 2008. Business Statistics and Operations Research, Tata McGraw-Hill
Education, pp 1-6.
2012, Statistics, [Video Online] Available at: < http://www.youtube.com/watch?v=CWrgEjXGzfg > [Accessed
31 August 2012].
Judge, D ., Statistics, lecture 1, [Video Online] Available at: < http://www.youtube.com/watch?v=24jvU95WCtQ
> [Accessed 31 August 2012].
Leidn university Introduction Probability and Statistics [PDF] Available at: <http://www.math.leidenuniv.
nl/~redig/lecturenotesstatistics.pdf>. [Accessed 14 July 2012].
Star, Statistics http://www.stat-help.com/intro.pdf , [Accessed 14 October 2010].
Recommended Reading
Jain, T. R. and Agarwal, S. C., 2009. Statistics for BBA, Statistics, VK Enterprises.
Medhi, J., 2005. Statistical Methods, Methods of Data Collection, 1st ed., New Age International Publishers.
Rajagopalan, S. P. and Sattanathan, R., 2008. Business Statistics and Operations Research, Tata McGraw-Hill
Education.
103/uts
Self Assessment
Statistics deals with which of the following? 1.
Qualitative data a.
Qualitative and quantitative data b.
Quantitative data c.
Productive data d.
Which of the following is not a characteristic of Statistics? 2.
Statistics are aggregates of facts. a.
Statistics are affected to a marked extent by multiplicity of causes. b.
It helps in bringing out the hidden relations between variables. c.
Statistics are collected in a systemic manner. d.
Common man cannot handle statistics properly, only 3. can handle statistics properly.
technicians a.
statisticians b.
artisans c.
administrators d.
By statistics we mean quantitative data affected to a market extent by multiplicity of causes. This defnition 4.
is defned by:
Yule and Kendall a.
Webster b.
Prof.A.L.Bowley c.
Tippet d.
Which among the following is not a function of statistics? 5.
It presents the facts in a defnite for. a.
With the help of statistics, decision making process becomes easier. b.
It simplifes the mass of data. c.
It helps in comparison of data of different kind. d.
Statistics can be referred as a subject that deals with 6. facts and fgures.
Alphanumerical a.
Alphabetical b.
Numerical c.
Quantitative d.
The classifed facts respecting the condition of the people in a state especially those facts which can be stated 7.
in numbers or in tables of numbers or in any tabular or classifed arrangement.This defnition is given by
__________.
Tippet a.
Peter Drucker b.
Webstar c.
Oxford d.
Quantitative Techniques
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_______of data leads to false conclusions. 8.
Misinterpretation a.
Understanding b.
Conceptualisation c.
Summarising d.
Which statement is true? 9.
Statistical analysis is based on certainty and not on probability. a.
Common man can handle statistics properly. b.
Statistical tools provide the best solution to problems under all circumstances. c.
Statistics does not study individual facts because individual items taken separately do not form a statistical d.
data.
Discrete distribution is also called _______________ . 10.
Cumulative frequency distribution a.
Grouped frequency distribution b.
Ungrouped frequency distribution c.
Continuous distribution d.
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Application I
Probability
When trading stocks it is of paramount importance to remove phrases like I hope, I wish, if only from your
vocabulary. Instead it deals with stocks in probabilities. What is the probability of profting from this stock if x
equals 1 and y equals 2. By calculating probabilities two things happen. All emotion is removed from trading and a
dispassionate approach to trading can take place and we can better assess the risk to reward ratio and determine if this
is a trade that we want to undertake. In trading, emotion is the bullet that will kill you. Stick with probabilities.
It as been owned a sizable stake in a company called General Moly which will use as a proxy for my thesis. When
it has been frst learned of it has been studied the project and determined that it owned the rights to the Mt. Hope
project which is the companys fagship project. It has been learned that when it received the permit to begin building
the infrastructure for the mine that it would be sitting on the worlds largest deposit of molybdenum. It has also been
learned that it owned a site called the Liberty project that it would deal with at a later date, but from the preliminary
analysis it had done the company is sure that this project will also produce a windfall amount of molybdenum.
So whats so great about molybdenum? Molybdenum is an alloy that is a by-product of mining copper. When
molybdenum is mixed with iron ore one can create lightweight, incredibly strong stainless steel that is impervious
to high degrees of temperature and pressure. It has been concluded that this would make it an essential ingredient
for building oil rigs and nuclear reactors as well as basic infrastructure. It has also been learned that while China
exported 97% of the worlds rare earth elements (that has subsequently changed) the country actually was a net
importer of molybdenum.
My next step was to learn about the management team. It has been read everything could fnd on the management
of this company and was very pleased to learn that CEO Bruce Hansen had amassed an amazing team that was not
looking to be acquired but instead looking to take this company into the arena of being the suppliers of molybdenum
to the world.
What did the balance sheet look like? The company had received a loan from one of the largest producers of steel
in the world, a South Korean company called Posco. It had also received fnancing from a Japanese company called
Sojitz and fnally it had received a bridge loan from a Chinese company called Hanlong for the amount of $50 million
with the promise that when permitted it would receive an additional $665 million loan to fast track the project into
production. Make no mistake; the South Koreans, the Japanese and the Chinese were not being benevolent. They
do not want the loans paid back in dollars. They want the loans paid back in molybdenum.
So everything was going as scripted when a Black Swan appeared out of nowhere and in December of 2010 with
the stock trading at around $7.00 an issue came up regarding water rights. To the credit of General Moly it has from
the beginning of the project dealt with every problem with complete transparency. It has followed the law chapter
and verse and there have been no mistakes made. This was no different. This did, however, slow the process down
and the stock immediately became the backyard of the short sellers who used this as an opportunity to further drive
the price down.
We will fast forward to last week when the state engineer granted the water rights to General Moly. I expected the
stock to bounce to its previous level before the water rights problem but that did not happen. What had changed
fundamentally? I got out my pencil and sharpened it. To use the latest balance sheet fgures I could fnd, I determined
that if I used a proxy price of $15.00 a lb for molybdenum then the company should have a net present value (NPR)
of $1.2 billion or a 66% increase over where the stock is presently trading as far as market capitalization. Given the
discount to the NPV, does this imply that the market believes that there is a 66% chance that this project will not
go into production? I conclude that this is simply not the case.
Quantitative Techniques
106/uts
Lets honestly look at the risks at this point. Lets assume the worst case scenario, China doesnt come through with
the expected fnancing or the Record of Decision (ROD) comes back negative or the Molybdenum concentrations
are signifcantly less than expected or fnally management cannot perform adequately enough to get this through
to production. China is contractually obligated to provide fnancing once permitted and moreover it needs the
molybdenum. There have been extensive exploratory bore holes done and everyone knows what is under the ground.
The management team has performed spectacularly at every turn and I see no evidence of that changing. The X factor
as I see it is the ROD and every due diligence has been taken. I see this as a probability of 80% to 90% that the ROD
will come back positively. So other than the ROD, how can this kind of discount to the NPV be justifed?
I conclude that the stock based on the fundamental analysis should be trading at the $10 to $12.00 range. Indeed the
previously mentioned price of molybdenum that my analysis was based on was $15.00 a pound and as I write this,
Freeport Mac Moran, one of the largest copper producers in the world, reported that it had sold the molybdenum
(which I said was a byproduct of copper mining) at a price of $18.00 per pound. I believe this is hedge funds
continuing to try and drive the price down and judging by what I see on the tape they are beginning to run out of
gas. Yesterday the stock closed at $4.78 but I do not see it trading there for much longer. So I would encourage
anyone who is interested in making a proft to take a look at this project and if you like what you see stake your
claim at a very discounted price.
I have learned through bitter experience to never say never. But as I have previously stated I see the probability
of this project coming to fruition at 80% to 90%. Surely somebody in Nevada wants a billion dollar mine to operate
there. Consider the tax revenues generated for the state and the town of Eureka and the thousands of good paying
jobs this project will create.
Source: Available at :< http://sekhon.berkeley.edu/papers/QualityQuantity.pdf> [Accessed 03 September 2012].
Questions:
What did the balance sheet look like? 1.
Answer
The company had received a loan from one of the largest producers of steel in the world, a South Korean company
called Posco. It had also received fnancing from a Japanese company called Sojitz and fnally it had received a
bridge loan from a Chinese company called Hanlong for the amount of $50 million with the promise that when
permitted it would receive an additional $665 million loan to fast track the project into production.
What is great about molybdenum? 2.
Answers
Molybdenum is an alloy that is a by-product of mining copper. When molybdenum is mixed with iron ore one
can create lightweight, incredibly strong stainless steel that is impervious to high degrees of temperature and
pressure.
At what range the stock should be traded? 3.
Answer
the stock based on the fundamental analysis should be trading at the $10 to $12.00 range.
107/uts
Application II
PERMUTATIONS
This introduces a modifed Particle Swarm. Optimizer which deals with permutation problems. Particles are defned
as permutations of a group of unique values. Velocity updates are redefned based on the similarity of two particles.
Particles change their permutations with a random rate defned by their velocities. A mutation factor is introduced
to prevent the current Best from becoming stuck at local minima. Preliminary study on the n-queens problem shows
that the modifed PSO is promising in solving constraint satisfcation problems.
A permutation problem is a constraint satisfaction problem with the same number of variables as values, in which
each variable takes a unique value. Any solution can be thought of as assigning a permutation to the variables. When
a permutation satisfes all the constraints, it is considered a feasible solution. For a permutation problem, there might
be one or multiple feasible solutions. The n-queens problem is one of the best examples of permutation problems.
Permutation optimisation problems have been found in many areas. There are many techniques developed to handle
permutation problems. In this paper, a new method called particle swarm optimization (PSO) is introduced to handle
the permutation problems.
The n-queens problem consists of placing n queens on an N by N chess board, so that they do not attack each other,
i.e. on every row, column or diagonal, there is only one queen exists. It is a classical complex constraint satisfaction
problem in the artifcial intelligence (AI) area. It has been used as a benchmark for developing new AI search
techniques. During the last three decades, the problem has served as an example and benchmark for backtracking
algorithms, permutation generation, the divide and conquer paradigm, constraint satisfaction problems, neural
networks, and genetic algorithms. Also, the n-queens problem has many practical applications such as VLSl testing,
air traffc control modem communication systems, message routing, load balancing in multiprocessor computers,
data compression, computer task scheduling, and optical parallel processing [I].
The n-queens problem bas three variants: fnding one solution, fnding a family of solutions, and fnding all solutions.
This paper deals with fnding one solution within a family.
PSO is a population based stochastic optimisation technique developed by Eberhart and Kennedy in 1995, inspired
by social behavior of bird focking or fsh schooling. During the past several years, PSO has been successfully
applied to multidimensional optimization problems artifcial neural network training multiobjective optimisation
problems. However, there is no research on permutation optimisation reported in the literature.
Similar to Genetic Algorithms (GAS), PSO is a population based optimization tool. The system is initialized with a
population of random solutions and searches for optima by updating potential solutions over generations. However,
unlike GA, PSO has no evolution operators such as crossover and mutation. In PSO, the potential solutions, called
particles, fy through the problem space by following the current better-performing particles. Each particle keeps
track of its coordinates in the problem space which are associated with the best solution (ftness) it
has achieved so far. (The ftness value is also stored.) This value is called pbest. Another best value that is tracked
by the particle swarm optimizer is the best value, obtained so far by any particle in the neighborhood of the particle.
This location is called nbest. When a particle takes all the population as its topological neighbors, the best value
is a global best and is called gbest
Source: Available at :< http://bit.csc.lsu.edu/~jianhua/chindu.pdf> [Accessed 03 September 2012].
Questions:
What does n-queen problem consists of? 1.
What is genetic algorithm? 2.
What is permutation optimization problem? 3.
Quantitative Techniques
108/uts
Application III
Matrices and Determinants
Area of a Triangle
Consider a triangle with vertices at (x
1
, y1), (x
2
, y2), and (x
3
, y3). If the triangle was a right triangle, it would be
pretty easy to compute the area of the triangle by fnding one-half the product of the base and the height.
However, when the triangle is not a right triangle, there are a couple of other ways that the area can be found.
Herons Formula
If you know the lengths of the three sides of the triangle, you can use Herons Formula to fnd the area of the
triangle.
In Herons formula, s is the semi-perimeter (one-half the perimeter of the triangle).
s = 1/2 (a + b + c)
Area = sqrt (s ( s-a) ( s-b) ( s-c) )
Consider the triangle with vertices at (-2,2), (1,5), and (6,1).
Using the distance formulas, we can fnd that the lengths of the sides (arbitrarily assigning a, b, and c) are a = 3
sqrt(2), b = sqrt(61), and c = sqrt(73).
Using those values gives us ...
s = 1/2 ( 3 sqrt(2) + sqrt(61) + sqrt(73) )
s - a = 1/2 ( - 3 sqrt(2) + sqrt(61) + sqrt(73) )
s - b = 1/2 ( 3 sqrt(2) - sqrt(61) + sqrt(73) )
s - c = 1/2 ( 3 sqrt(2) + sqrt(61) - sqrt(73) )
s ( s - a ) ( s - b ) ( s - c ) = 1089 / 4
When you take the square root of that, you get 33/2, so the area of that triangle is 16.5.
Problems with Herons Formula include
Must know the lengths of the sides of the triangle. If you dont then you have to use the distance formula to fnd
the lengths of the sides of the triangle.
You have to compute the semi-perimeter, so chances are you will have fractions to work with.
Lots of square roots are involved. For the lengths of the sides of the triangle and for the area of the triangle.
Its not the easiest thing in the world to work with.
Geometric Technique
The triangle can be enclosed in a rectangle. The vertices of the triangle will intersect the rectangle in three places,
forming three right triangles. These triangles are denoted A, B, and C in the picture.
The area of the triangle we desire will be the area of the rectangle minus the areas of the three triangles.
The legs of the three triangles can be found by simple subtraction of coordinates and then used to fnd the area
since the area of a triangle is one-half the base times the height.
Area of triangle A = 3 ( 3 ) / 2 = 9/2.
Area of triangle B = 5 ( 6 ) / 2 = 15.
Area of triangle C = 8 ( 3 ) / 2 = 12.
The sum of the areas of the triangles is 9/2 + 15 + 12 = 63 / 2 or 31.5.
109/uts
The area of a rectangle is base times height, so the bounding rectangle has area = 8 ( 6 ) = 48.
The area of the triangle in the middle is the difference between the rectangle and the sum of the areas of the three
outer triangles.
Area of triangle = 48 - 31.5 = 16.5.
Web Link:
Source: Available at:< http://people.richland.edu/james/lecture/m116/matrices/applications.html > [Accessed 31
August 2012].
Questions:
What is the formula to fnd area of triangle? 1.
What are the geometric Technique? 2.
What does herons formula include? 3.
Quantitative Techniques
110/uts
Bibliography
References
2011, Arithmetic & Geometric progressions, [Video Online] Available t: < http://www.youtube.com/
watch?v=ze0hNuxJaVE > [Accessed31 August 2012]
2011, Matrices, [Video Online] Available at: < http://www.youtube.com/watch?v=9tFhs-D47Ik > [Accessed
31 August 2012].
2012, Statistics, [Video Online] Available at: < http://www.youtube.com/watch?v=CWrgEjXGzfg > [Accessed
31 August 2012].
Agarwal, B. R., 2007. Programmed Statistics, Interpolation, 2nd ed., New Age International, pp 405-425.
Akekar, R., 2008. Discrete Mathematics: Set theory, 2nd ed., Dorling Kindersley Publication India, pp109-
123.
Arithmetic and geometric progressions , [Online] Available at: < http://www.mathcentre.ac.uk/resources/uploaded/
mc-ty-apgp-2009-1.pdf > [Accessed 31 August 2012].
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Self Assessment Answers
Chapter I
c 1.
d 2.
b 3.
a 4.
b 5.
b 6.
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c 8.
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b 10.
Chapter II
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Chapter III
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Chapter IV
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Quantitative Techniques
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Chapter V
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Chapter VI
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Chapter VII
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Chapter VIII
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Chapter IX
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Chapter X
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