# Business Mathematics - Explore the Science & Experts | ideXlab

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### Yukari Shirota – 1st expert on this subject based on the ideXlab platform

• ##### Instruction Methods for Solving Word Problems in Mathematics Education
, 2020
Co-Authors: Yukari Shirota

Abstract:

The purpose of this paper is to report on three methodologies that I practise in Business Mathematics lectures. In Business Mathematics, a problem to find is more important than a problem to prove. Thus, my target is a problem to find. The first methodology is to solve a problem visually to the extent possible, not only using existing algebraic methods but also a visual method that includes mathematical software, such as Maple and Mathematica. In Business Mathematics today, problem solving using the visual approach is more important than that using the algebraic approach because Business requires the speedy modeling of the target and prompt analysis of the model. Thus we can say that the visual solution skill is also required as digital literacy in the Business Mathematics field. Therefore, lecturers are recommended to take greater advantage of this new visual approach. The second methodology is to practise Polya’s famous heuristics, described in his book, “How to Solve It”. It is particularly important for students to first write down the given data and the unknown to understand a word problem. The third methodology is to have students construct rule databases in their heads to make a deduction. Using deduction, they can easily find the connection between the given data and the unknown to devise a solution plan. Based on my experience with deductive database system construction, I think that the procedures used in a deductive system can be applied to students’ solution procedures. In my lectures, I repeatedly teach students deductive patterns. Thinking patterns using these three methodologies are helpful in cultivating students’ ability to solve future problems by themselves.

• ##### DNIS – Knowledge Visualization of Reasoning for Financial Mathematics with Statistical Theorems
Databases in Networked Information Systems, 2014
Co-Authors: Yukari Shirota, Takako Hashimoto, Sakurako Suzuki

Abstract:

We have been developing formula databases for our Business math lectures. Our target is Business Mathematics and the main part is financial Mathematics. To handle financial word problems, many statistical formulas and theorems must be referenced and used. We describe visualization of the statistical formula database in the paper. To teach statistical theorems, simulation and visualization is so helpful. Therefore such visualization materials should also be stored in the formula database as a piece of our knowledge. On the other hand, the problem exists that math formula database researches may hardly consider its user interfaces. We have been researching a deductive reasoning process for solving a word math problem. Then we proposed that the reasoning process graph can be used as an effective and excellent user interface of the large-scale knowledge base for students to solve a word math problem. In the paper, we show a deductive reasoning process for the Black-Scholes equation as the concrete example, as many statistical formulas are refereed to derive the Black-Scholes equation.

• ##### Web publication of visual teaching materials for BusinessMathematics
2012 2nd International Conference on Uncertainty Reasoning and Knowledge Engineering, 2012
Co-Authors: Takako Hashimoto, Yukari Shirota

Abstract:

The paper describes our web publication of visual teaching materials for Business Mathematics. The objective of the web site is to familiarize students with our visual approach for Business Mathematics at early stage. The significant advantage of visualization is that seeing the materials leads to better understanding of the mathematical process. Even if the students cannot understand the algebraic calculation process, they can intuitively understand the essence, only seeing the visual materials. The feature of our developed teaching materials is utilization of three-dimensional graphics and its animations. Just watching the animation, students can see the points, even if they have no idea about operations on the web. In the paper, we will illustrate the typical economics problem named the Marshallian demand function.

### M. Gibbons – 2nd expert on this subject based on the ideXlab platform

• ##### Organizing the University–Industry Relationship: A case study of research policy and curriculum restructuring at the North‐West University in South Africa
Tertiary Education and Management, 2008
Co-Authors: F. K. Boersma, C. J. Reinecke, M. Gibbons

Abstract:

A major requirement for transformation contained in the new education policy in South Africa is that the graduate outputs of the higher education system should match the needs of a modernizing economy. This paper addresses the organizational aspect of university–industry relationships that is an element of the transformation. In empirical terms, it reflects upon the policy of the North‐West University in South Africa, as embodied by means of the introduction of the Business Mathematics and Informatics (BMI) curriculum and research. Empirical results indicate that the number of students who opted for Mathematics had increased dramatically. The majority of graduates delivered by the BMI programme are employed in the financial sector, both nationally and internationally. This paper indicates that the organization of university–industry relationships enforces a difficult institutional balancing act that attempts, on the one hand, to meet the benchmark of international scientific indicators, and on the other h…

• ##### Organizing the University-Industry Relationship: A case study of research policy and curriculum restructuring at the North-West University in South Africa
Tertiary Education and Management, 2008
Co-Authors: F. K. Boersma, C. J. Reinecke, M. Gibbons

Abstract:

A major requirement for transformation contained in the new education policy in South Africa is that the graduate outputs of the higher education system should match the needs of a modernizing economy. This paper addresses the organizational aspect of university-industry relationships that is an element of the transformation. In empirical terms, it reflects upon the policy of the North-West University in South Africa, as embodied by means of the introduction of the Business Mathematics and Informatics (BMI) curriculum and research. Empirical results indicate that the number of students who opted for Mathematics had increased dramatically. The majority of graduates delivered by the BMI programme are employed in the financial sector, both nationally and internationally. This paper indicates that the organization of university-industry relationships enforces a difficult institutional balancing act that attempts, on the one hand, to meet the benchmark of international scientific indicators, and on the other hand, “fitness for purpose” in the local context.

### Kris H Green – 3rd expert on this subject based on the ideXlab platform

• ##### reorganizing freshman BusinessMathematics ii authentic assessment in Mathematics through professional memos
Teaching Mathematics and Its Applications, 2008
Co-Authors: Kris H Green, Allen W Emerson

Abstract:

The first part of this two-part paper (13) described the development of a new freshman Business Mathematics (FBM) course at our college. In this paper, we discuss our assessment tool, the Business memo, as a venue for students to apply mathematical skills, via mathematical modelling, to realistic Business problems. These memos have proven a crucial step in turning our FBM course around from a dreaded course with little connection to students’ intended careers into a course where students experience the power of Mathematics for solving problems and informing decisions. Comments from students in the course throughout its 6-year history clearly point to the course’s value and importance.

• ##### reorganizing freshman BusinessMathematics i background and philosophy
Teaching Mathematics and Its Applications, 2007
Co-Authors: Kris H Green, Allen Emerson

Abstract:

This article is the first of the two-part discussion of the development of a new Freshman Business Mathematics (FBM) course at our college. Part I of the article describes the background and history behind the course, and provides a theoretical framework for the design of the course. This design involves students in learning and applying Mathematics to real world problems using common Business tools, in this case spreadsheets. This new course is centered on the concept of building and interpreting models of data, but touches on many topics in statistics, pre-calculus and calculus.