Olivier Business Math Chapter 1, 2 Unit 1

CHAPTER 2: Back To The Basics
Chapter Outline
 2.1: Order of Operations
 2.2: Fractions, Decimals, and Rounding
 2.3: Percentages
 2.4: Algebraic Expressions
 2.5: Linear Equations—Manipulating and
Solving
 2.6: Natural Logarithms
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Section 2.1
Order Of Operations

The Symbols
Mathematical Symbol or Appearance
Operation
Brackets () or [] or {}
Exponents 23 or 2^3
Multiplication × or * or • or 2(2) or (2)(2)
Division / or ÷ or
Addition +
Subtraction −

BEDMAS - How It Works
• Brackets
Step 1
• Exponents
Step 2
• Division
Step 3 • Multiplication
• Addition
Step 4 • Subtraction

Tips
Things To Watch Paths To Success

Out For
 Negative signs  Hidden & implied
 Horizontal symbols
divisor line  Simplify
negatives
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Let’s Try It Out:
Example 2.1A
 Evaluate each of the following
expressions.
a. 2 × 5 + 30 ÷ 5
b. (6 + 3)2 + 18 ÷ 2

Let’s Try It Out:
Example 2.1A
 Plan: Solve each expression.
 Understand:
Expressions are ready to be solved.
Use BEDMAS.
 Perform:

Let’s Try It Out:
Example 2.1A
 Perform:  Present:
The final solutions for
the expressions are:
a. 16
b. 90
c. 12

2.1 HOMEWORK
Textbook: <assign work>

Lyryx: <assign lab>

Section 2.2
Fractions, Decimals, & Rounding

Types Of Fractions

How It Works:
Solving For An Unknown Term
• Set up the fractions
Step 1
• Pick the pair of known values

Step 2
• Determine the relationship between

Step 3 the values
• Apply the same relationship to the

Step 4 unknown value

How It Works:
Expressing In Different Terms
 Larger: use multiplication
 Smaller: use division
Pick smallest number
Use factoring
 Don’t introduce decimals

Let’s Try It Out:
Example 2.2A
 Identify the type of fraction represented by
each of the following:
a. b. c. 12
d. e. f.

Let’s Try It Out:
Example 2.2A
 Plan: Identify the fraction type.
 Understand:
There are 5 types of fractions.
Match up the characteristics.
 Perform & Present:
a.
Proper d.
Improper
b.
Compound e.
Proper
c. 12
Compound f.
Equivalent

Let’s Try It Out:
Example 2.2B
a. Solve for the unknown term x:
b. Express this fraction in lower terms:

Let’s Try It Out:
Example 2.2B
 Plan: Find the value of X; express in lower terms
 Understand:
Apply the four step technique for X (step 1 is done already).
Find common divisor for lower terms
 Perform:
Step 2: You have both of the numerators.
Step 3: Take 49 ÷ 7 = 7. Multiply the fraction on the left by 7.
Step 4: 12 × 7 = 84.

 Present:
a. The unknown denominator is 84, and therefore .
b. In lower terms, is expressed as .
Converting To Decimals
 Proper and Improper Fractions
Resolve the division
 Compound Fractions
Watch hidden addition symbol, then BEDMAS
 Complex Fractions
Reinsert all hidden symbols, then BEDMAS

Let’s Try It Out:
Example 2.2C
 Convert the following fractions into
decimals:
a. b. c. 12

Let’s Try It Out:
Example 2.2C
 Plan: Convert fractions into decimals
 Understand:
a. Proper fraction
b. Compound fraction
c. Complex fraction
 Perform:
 Present:
In decimal format, the fractions are 0.4, 6.875, and 15.75.
Rounding Principle
 To round a number off, you always look at
the number to the right of the digit being
rounded.
If that number is 5 or higher, you add one to
your digit; this is called rounding up.
If that number is 4 or less, you leave your digit
alone; this is called rounding down.

Non-Terminating Decimals
 The Nonterminating Decimal without a
Pattern:
... no apparent ending decimal and no pattern to
the decimals.
 The Nonterminating Decimal with a
Pattern:
... endlessly. A shorthand way of expressing this
is .

Solution Status
 Interim Solution:
You must carry forward all of the decimals in your
calculations, as the number should not be rounded
until you arrive at a final answer.
Hint: use your calculator memory storage functions
 Final Solution:
Industry protocol.
Clear instruction.
Make an arbitrary rounding choice maintaining
enough precision to allow for reasonable
interpretation.
Let’s Try It Out:
Example 2.2D
 Convert the following to decimals. Round
each to four decimals or use the repeating
decimal notation.
a. b. c. d. e.

Let’s Try It Out:
Example 2.2D
 Plan: Convert to decimals and round suitably
 Understand:
Fractions provided and clear instructions.
Convert to decimals and apply the rules.
 Perform:
a. = 0.4615
b.
c.
d. =
e. = 5.3857
 Present:
According to the rounding instructions, the solutions are
0.4615, , , , and 5.3857, respectively.
Rounding Rules
1. Never round an interim solution unless there is a logical reason or
business process requirement.
Withdraw money or transfer it between different bank accounts.
Write the numbers in a financial statement or charge a price for a product.
2. For nonterminating decimals, show up to six decimals and use the
horizontal line format for repeating decimals. If not a final solution,
assume that all decimals are being carried forward.
3. Round final solutions to six decimals in decimal format and four
decimals in percentage format unless instructions indicate otherwise.
4. Round final solutions according to common business practices,
practical limitations, or specific instructions.
5. Avoid writing trailing zeroes, which are not required at the end of
decimals, unless required for a rounding standard or to visually line
up a sequence of numbers.

2.2 HOMEWORK

Lyryx: <assign lab>

Section 2.3
Percentages

Percentage Conversion:
The Formula
A percentage is a part of a whole expressed in
hundredths.

Paths To Success
Remembering Formula Moving Decimals
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Let’s Try It Out:
Example 2.3A
 Convert (a) and (b) into percentages.
Convert (c) back into decimal format.
a. b. 1.3187 c. 12.399%

Let’s Try It Out:
Example 2.3A
 Plan: Exactly as per instructions.
 Understand:
(a) and (b) you have dec while (c) you have %.
Solve the formula for the needed information.
 Perform:
a. % = 0.375 × 100 % = 37.5%
b. % = 1.3187 × 100 % = 131.87%
 Present:
In percentage format, the first two numbers are 37.5% and
131.87%.
In decimal format, the last number is 0.12399.
Rate, Portion, Base:
The Formula

Key Words

Give It Some Thought
Consider the following situations and select the best answer without
performing any calculations.
1. If the rate is 0.25%, in comparison to the base the portion is
just a little bit smaller than the base.
a lot smaller than the base.
just a little bit bigger than the base.
a lot bigger than the base.
2. If the portion is $44,931 and the base is $30,000, the rate is
smaller than 100%.
equal to 100%.
larger than 100% but less than 200%.
larger than 200%.
3. If the rate is 75% and the portion is $50,000, the base is
smaller than $50,000.
larger than $50,000.
the same as the portion and equal to $50,000.

Let’s Try It Out:
Example 2.3B
 Solve for the unknown in the following three
scenarios.
Total income is $3,000 per month and you can't spend
more than 30% on housing, what is the maximum
amount of your total income that can be spent on
housing?
2014 sales are 102% of 2013 sales. The sales for 2014
are $1,487,003. What were the sales in 2013?
Total commercial real estate sector in the first quarter
of 2008 were $1.28 billion. ICI real estate sector had
sales of $409.6 million. What percentage of commercial
real estate sales is accounted for by the ICI land sector?

Let’s Try It Out:
Example 2.3B
 Plan: In each question, clearly identify what you are looking
for.
 Understand:
In order, need to solve for Portion, Base, and then Rate.
 Perform:
1. Portion = 30% × $3,000 = $900
 Present:
1. The maximum you can spend on housing is $900 per month.
2. 2013 sales were $1,457,846.08.
3. The ICI sector accounted for 32% of commercial real estate sales.
2.3 HOMEWORK

Lyryx: <assign lab>

Section 2.4
Algebraic Expressions

What Is Algebra?

The Language Of Algebra
 Algebraic Expression
 Algebraic Equation
 Term
Nomial
Polynomial
 Factor
Numerical coefficient
Literal coefficient

The Language of Algebra

The Language Of Algebra

Exponents

How It Works

Let’s Try It Out:
Example 2.4A
 Simplify the following expressions:
a. h3 × h6 b. c.
d. 1.492680 e. f.

Let’s Try It Out:
Example 2.4A
 Plan: (d) and (f) can be solved numerically, the rest are
algebraic.
 Understand:
You have been provided with the expressions, and you have
six rules for simplifying exponents in algebra.
a. h3 × h6 = h3+6 = h9
b. = h14-8 = h6
c.
d. 1.492680 = 1
e.
f. = 2.930156
Addition & Subtraction:
How It Works

 Examine the following algebraic expressions
and indicate how many terms can be
combined through addition and subtraction.
No calculations are necessary. Do not
attempt to simplify.

Let’s Try It Out:
Example 2.4B
 Simplify the following three algebraic
expressions.
a. 9x + 3y − + 4y
b.
c.

Let’s Try It Out:
Example 2.4B
 Plan: Apply the addition and subtraction
rules to each expression.
 Understand:
The expressions have been provided. Simplify,
combine, and solve.

Let’s Try It Out:
Example 2.4B
 Perform:
 Present:
The algebraic
expressions simplify
as follows:
a. 5.5x +7y
b. 15.15566P
c. −0.872602x
Multiplication:
How It Works

Let’s Try It Out:
Example 2.4C
 Simplify the following algebraic
expression:
(6x + 2 + 2)(3x – 2)

Let’s Try It Out:
Example 2.4C
 Plan: You have been asked to simplify the
expression.
 Understand:
You are multiplying two expressions.
Apply the three steps.

Let’s Try It Out:
Example 2.4D
expression:
–(3ab)(a2 + 4b – 2a) – 4(3a + 6)

Let’s Try It Out:
Example 2.4D
 Plan: You have been  Perform & Present:
asked to simplify the
expression.
 Understand:
The first term consists of
three expressions being
multiplied together.
The second term involves
two expressions being
multiplied together.
Apply the rules of
multiplication.

Division:
How It Works

Let’s Try It Out:
Example 2.4E
expression:

Let’s Try It Out:
Example 2.4C
 Plan: You have been asked to simplify the
expression.
 Understand:
It is a polynomial divided by a monomial.

Let’s Try It Out:
Example 2.4F
expression:

Let’s Try It Out:
Example 2.4D
 Plan: You have been  Perform & Present:
asked to simplify the
expression.
 Understand:
It is a polynomial
divided by a monomial.

Substitution:
How It Works

Let’s Try It Out:
Example 2.4G
 Substitute and solve the following
equation:
N = L × (1 − d1) × (1 − d2) × (1 − d3)
Where:
L = $1,999.99 d1 = 35%
d2 = 15% d3 = 5%
Let’s Try It Out:
Example 2.4G
 Plan: You need to get a dollar value for the literal
coefficient N.
 Understand:
You are provided with the equation and the values of four
literal coefficients.
Step 1: L = $1,999.99 d1 = 0.35 d2 = 0.15 d3 = 0.05
Step 2: N = $1,999.99 × (1 – 0.35) × (1 – 0.15) × (1 – 0.05)
Step 3: N = $1,999.99 × 0.65 × 0.85 × 0.95
N = $1,049.74
2.4 HOMEWORK

Lyryx: <assign lab>

Section 2.5
Linear Equations: Manipulating and

Solving

The Language of Manipulation

Linear Equations

Non-Linear Equations

Solving 1 Linear Equation with 1
Unknown: How It Works

Let’s Try It Out:
Example 2.5A
 Take the ongoing example in
this section and solve it for x:
4x + 3 = −2x − 3

Let’s Try It Out:
Example 2.5A
 Plan: Solve the  Perform & Present:
equation and find the
root for x.
 Understand:
Equation is provided.

Let’s Try It Out:
Example 2.5B
 Solve the following equation for m:

Let’s Try It Out:
Example 2.5B
root for x.
 Understand:

Let’s Try It Out:
Example 2.5C
 Solve the following equation for b
and round your answer to four
decimals:

Let’s Try It Out:
Example 2.5C
root for x.
 Understand:
Convert fractions to
decimals.

Solving 2 Linear Equations with 2
Unknowns: How It Works

Translating Words Into Mathematical
Symbols

Translating Words Into Mathematical
Symbols

Let’s Try It Out:
Example 2.5D
 Recall from the section opener that in shopping for
outfits there are two price points of $10 and $30,
your budget is $110, and that you need seven
articles of clothing.
 The equations below represent these conditions.
 Identify how many low-priced outfits (L) and high-
priced outfits (H) you can purchase.
L+H=7
$10L + $30H = $110

Let’s Try It Out:
Example 2.5D
 Plan: Need to  Perform & Present:
determine the quantity
of low-price-point
items, or L, and high-
price-point items, or H,
that are within your
limited budget.
 Understand:
The equations express
the relationships of
quantity and budget.
Apply the six steps.
Let’s Try It Out:
Example 2.5E
 Tinkertown Family Fun Park charges $15
for a child wrist band and $10.50 for an
adult wrist band.
 On a warm summer day, the amusement
park had total wrist band revenue of
$15,783 from sales of 1,279 wrist bands.
 How many adult and child wrist bands did
the park sell that day?

Let’s Try It Out:
Example 2.5E
 Plan: Need the number  Perform
of both adult (a) and
child (c) wrist bands
sold.
 Understand:
The price of the wrist
bands, total quantity,
and sales are known.
Figure out the equations
by working with  Present:
quantities then dollars. Tinkertown Family Fun Park sold
Apply the six steps. 523 child wrist bands and 756
adult wrist bands.
2.5 HOMEWORK

Lyryx: <assign lab>

Section 2.6
Natural Logarithms

Logarithms
 A Base Value of 10.
This is referred to as a common logarithm.
If you have 102 = 100, then 2 is the common logarithm of 100 and this is written as
log10(100) = 2, or just log(100) = 2
log(power) = exponent
If you have 10x = y, then log(y) = x.
 A Base Value of e.
This is referred to as a natural logarithm.
e = 2.71828182845.
If you have e3 = 20.085537, then 3 is the natural logarithm of 20.085537 and you write
this as ln(20.085537) = 3.
ln(power) = exponent
If you have e4 = 54.59815, then ln(54.59815) = 4.
Properties of Natural Logarithms
1. The natural logarithm of 1 is zero.
2. The natural logarithm of any number greater than
1 is a positive number.
3. The natural logarithm of any number less than 1 is
a negative number.
4. A natural logarithm cannot be less than or equal to
zero.
5. The natural logarithm of the quotient of two
positive numbers is .
6. The natural logarithm of a power of a positive base
is .
 For each of the following powers, determine if the
natural logarithm is positive, negative, zero, or
impossible.
a. 2.3
b. 1
c. 0.45
d. 0.97
e. −2
f. 4.83
g. 0
Let’s Try It Out:
Example 2.6A
 Solve the first two questions using your
calculator. For the next two questions,
demonstrate the applicable property.
a. ln(2.035)
b. ln(0.3987)
c.
d. ln[(1.035)12]

Let’s Try It Out:
Example 2.6A
 Plan: Need to apply the properties of natural logarithms.
 Understand:
 Properties of natural logarithms are known
 For the questions, in order apply property 2, 3, 5, & 6.
 Perform:
a. ln(2.035) = 0.710496

b. ln(0.3987) = −0.919546
c.
ln(1.6) = 9.210340 − 8.740336

0.470004 = 0.470004
d. ln[(1.035)12] = 12 × ln(1.035)
ln(1.511068) = 12 × 0.034401
0.412817 = 0.412817
 Present:
a. e0.710496=2.035 b. e−0.919546=0.3987
c. 0.470004 d. ln[(1.035)12] =0.412817

2.6 HOMEWORK

Lyryx: <assign lab>

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CHAPTER 2: Back To The Basics

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Things To Watch Paths To Success

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Fractions, Decimals, & Rounding

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• Pick the pair of known values

• Determine the relationship between

• Apply the same relationship to the

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b. Express this fraction in lower terms:

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–(3ab)(a2 + 4b – 2a) – 4(3a + 6)

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