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Articles & Books From Calculation & Analysis
Your personal roadmap to becoming fluent in financial reports At first glance, the data in financial reports might seem confusing or overwhelming. But, with the right guide at your side, you can learn to translate even the thickest and most complex financial reports into plain English. In Reading Financial Reports For Dummies, you'll move step-by-step through each phase of interpreting and understanding the data in a financial report, learning the key accounting and business fundamentals as you go.
Article / Updated 07-30-2018
You will definitely encounter probability or chance problems in a finite math course. One way you can solve these problems is to organize the data visually in probability trees.For example, say that you’re doing a market survey concerning pizza establishments and the preferences of consumers. You went to Dominick’s Den, Pizza House, and Mama Joe’s interviewing an equal number of people at each establishment.
Article / Updated 07-30-2018
When you encounter a matrix problem in finite math, a nice way to illustrate the transition from one state to another is to use a transition diagram. The different states are represented by circles, and the probability of going from one state to another is shown by using curves with arrows.The transition diagram in the following figure shows how an insurance company classifies its drivers: no accidents, one accident, or two or more accidents.
Article / Updated 06-20-2019
As with many areas and topics in finite mathematics, there is a very special and specific vocabulary that goes along with game theory. Here are some important and useful terms that you should know. Payoff matrix: A matrix whose elements represent all the amounts won or lost by the row player. Payoff: An amount showing as an element in the payoff matrix, which indicates the amount gained or lost by the row player.
Article / Updated 07-30-2018
If your finite math instructor asks you to analyze a compound statement, you can try using a truth table to do this. Not every topic in a discussion can be turned into a compound statement and analyzed for its truth that way, but using logic and truth values is a good technique to use when possible.Consider the compound statementWhen constructing a truth table, you start with the basic p and q columns.
Article / Updated 07-30-2018
If your finite math instructor asks you to predict the likelihood of an action repeating over time, you may need to use a transition matrix to do this. A transition matrix consists of a square matrix that gives the probabilities of different states going from one to another.With a transition matrix, you can perform matrix multiplication and determine trends, if there are any, and make predications.
Article / Updated 07-30-2018
On a finite math exam, you may be asked to analyze an argument with a visual approach using an Euler diagram. This pictorial technique is used to check to see whether an argument is valid. An argument can be classified as either valid or invalid. A valid argument occurs in situations where if the premises are true, then the conclusion must also be true.
Article / Updated 07-30-2018
A big part of finite math involves working through financial problems. Some of these problems may seem complex—like calculating the monthly deposits required to maintain a sinking fund. Fortunately, there’s a special formula you can use to find the answer.A sinking fund is usually used to accumulate money to fund a future expense or a way to retire a debt.
Article / Updated 07-30-2018
In a finite math course, you will encounter a range of financial problems, such as how to calculate an annuity. An annuity consists of regular payments into an account that earns interest.You can use a formula to figure out how much you need to contribute to it, for how long, and, most importantly, how much will be in your account when you want to start using the money.
Article / Updated 07-30-2018
In a finite math course, you’ll often be asked to use mathematical formulas to solve real-world problems. A good example of this is calculating the starting value of an annuity.Say that you’re planning an around-the-world-trip, and your big concern is how to fund this adventure. One way is to have a fund from which you can withdraw a certain amount of money at regular intervals and have just enough money when you’re finished, where the fund goes down to zero.