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Week 1 Student Roadmap

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FIN/571 – Student Road Map

Week One—Student Road Map

1 Student road map

We designed this course to help you develop analytical skills as a manager and apply the tools necessary to make business decisions. Some objectives are linked to short tutorials that connect the math application to business concepts that you learn about in this course and later in the MBA program. Below are some questions a midlevel manager faces regularly and the underlying skills needed to address them.

• What is our return on investment for this project? • What price should we set to increase revenue? • How much product must we sell to make a profit? • Will offering our product in different models increase sales? • What sales volume does our competition need to be profitable? • Based on our past performance, what are our predicted sales next year? • How can we utilize PowerPoint® to show the effect the price has on the quantity of our product customers buy? • Can we make more money by adding new equipment? • If a contract includes a $2 million payment in 3 years, how much is that worth today? • How can we show the possibilities of various outcomes based on a single decision? • How far can we be from our expected sales volume before someone is fired? • When is a process out of control? • How can we balance risk and return with our investment choices? • If a sample of our product is bad, is the entire batch bad? • How can we compare our performance against a baseline?

Underlying skills:

• Write mathematical expressions and equations for word problems. • Apply the rules for order of operations in solving problems. • Identify dependent and independent variables and their relationships. • Differentiate between the levels of measurement. • Solve simultaneous equations

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