Summary QMI1500 Assignment 1, 2 & 3 Semester 1 & 2 2021

1 WELCOME A very warm welcome as a student in the module, Elementary Quantitative Methods. May you enjoy this module and experience it as worthwhile. 1.1 Study approach Millions of people all over the world are dead scared of mathematics – they have mathematics phobia. Research has shown that this is not an inborn phobia or fear, but one that comes about for some puzzling reason. It is not a disease, but a limitation that can affect your life dramatically. Remember, no one can get away from numbers and calculations. People think mathematics is difficult because other people say so. They are frightened of numbers because somewhere someone said that only a small group of people can do mathematics. Do not panic if you are one of these “frightened of mathematics” people – there is not only hope, but also a way out of the problem! In this module you will learn useful mathematical skills that will enable you to solve practical problems. You will learn how beautiful and elegant numbers can be and what fun it is to work with them. So if you are frightened of numbers, this module is going to help you get rid of your fears. But it will not happen overnight – one has to work hard and do lots of exercises to master mathematics. Learning to do mathematics is like building a wall – the one brick fits on top of the other. So make sure that you are familiar with one section of the work before moving on to the next. All your hard work will be worthwhile because the satisfaction you feel when you solve a mathematics problem is so great that soon you will be doing mathematics just for fun! There are various ways to approach mathematics. One way is to memorise study material like the laws of operations so that you can use them without even thinking about them. Another is to give a good deal of thought to what you have read and to try to relate whatever is unfamiliar to what you already know. You look at what you want. Then you look at what you have or know. Then you put everything together to find a solution. Students who give a lot of thought to what they are doing will also try to solve all possible problems relating to the topic in question. In other words, they look at the problem from all sides. This is a very slow way to learn and you will often feel that you are not getting through the material quickly enough. However, you will have a lasting knowledge and understanding of the topic. You will also learn to think and work logically. In this module, we use both approaches. You have to know and be able to apply the basic rules, and you also have to be able to think through and solve a problem logically. You learn quantitative skills by working with a pen and paper and doing lots of exercises. 4 QMI1500/101/3/2010 1.2 Lecturers The lecturers for QMI1500 will assist you with any problems experienced in the study material. Feel free to contact us, but please make an appointment if you want to see us personally. Information regarding your lecturers is published in Tutorial Letter 301, 2010. Copy the information for this module in the space below or cut and paste it! 1.3 Study material There is no prescribed book for this module. The Department of Despatch should supply you with the following study material. • One study guide: Elementary Quantitative Methods • Tutorial letter 101, containing: - general information - self-evaluation exercises with their solutions - two compulsory assignments - notes on the calculator • Other tutorial letters that will be send out during the course of the semester are - Tutorial letter 102 containing discussion class questions and dates of the discussion classes. - Tutorial letter 201 containing solutions to the assignments, discussion class questions and general information regarding the examination. - Tutorial letter 301 containing general information. • Please take note that the study material can be downloaded via MyUnisa at . Some of the study material may not necessarily be available when you register. Tutorial matter that are not available when you register will be posted to you as soon as possible. With registration you will receive an inventory letter containing information about your tutorial matter. See also the booklet entitled “Your Service Guide @ Unisa” (which you received with your tutorial matter). 5 QMI1500/101/3/2010 The SHARP EL-738 financial calculator is recommended for this module but you may use any calculator that you prefer. The SHARP EL-738 calculator can be obtained from most stockists of SHARP calculators or from a SHARP ELECTRONICS branch. There are SHARP ELECTRONICS branches in Johannesburg, Cape Town, Port Elizabeth, Durban, Bloemfontein, Pretoria, Vereeniging, Paarl, East London, Welkom, Kimberley, Nelspruit, Klerksdorp and Pietermaritzburg. Take your Unisa student card with you and ask the sales manager for a special student price. Remember that an ordinary shop will not sell it to you at a student price. 1.4 Purpose of this module To introduce the learner to elementary mathematical modelling, financial mathematics, elementary descriptive statistics and index numbers. 1.5 Outcomes of this module Learning Outcome 1: Learners can demonstrate an understanding of numbers and workings with numbers. Assessment Criteria: 1. Know and apply the priority rules, laws of operations, basic signs and notations and counting rules in solving problems. 2. Express relationships between numbers by using symbols. 3. Do basic mathematical operations on fractions. 4. Solve problems containing roots and/or powers. 5. Relate numbers to each other using ratios, proportions and percentages. 6. Convert units and measures of length, distance area and volume. Learning Outcome 2: Learners can apply mathematical concepts to do basic modelling. Assessment Criteria: 1. Explain the concept of a function. 2. Differentiate between linear, quadratic, exponential and logarithmic functions. 3. Explain the different characteristics of linear and quadratic functions. 4. Represent the linear and quadratic functions graphically. 5. Solve linear equations and linear inequalities in one or two variables algebraically. 6. Solve a system of linear inequalities two variables graphically. 7. Calculate and interpret marginal cost and profit at a specific production level.