Section 1 - Postsecondary Education Quality Assessment Board

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Learning Objectives:
Upon completion of this course, the student will demonstrate, in assignments, tests and
exams, knowledge of the following:
1. Given a set of data such as colors of automobiles and body styles or gender and college
major, determine various sets and use Venn diagrams to present the data.
2. Given a situation where it is necessary to select a number of items from a larger group and
order matters and duplicates are not allowed, use the permutations formula to determine
the number of ways the selection can be made.
3. Given a situation where it is necessary to select a number of items from a larger group and
order does not matter and duplicates are not allowed, use the combination formula to
determine the number of ways the selection can be made.
4. Given either a known future or present value, interest rate, time period, use the
appropriate formula to determine the unknown future or present value.
5. Given either a known deposit or withdrawal, interest rate, time period, use the appropriate
annuity formula to determine either future or present value.
6. Given either a know loan amount or desired future accumulation of capital, interest rate,
and time period, use the appropriate formula to determine the loan payment or periodic
deposit.
7. Given a set of time series data, select and apply an appropriate forecasting model and
derive a projection for the next period.
8. Given several forecasting models, use error calculations to recommend an appropriate
method.
9. Given a business situation for which linear programming is appropriate, such as
production planning, scheduling, or resource allocation, develop the model including an
objective function and necessary constraints.
10. Given a computer-generated solution to a mathematical programming model, analyze the
output to determine the impact of certain courses of action such as acquiring additional
resources, changing selling price, etc.
11. Given the need for efficient routing (best routes) in any network, determine the best route
by using graphs. An example is given here: given the geography of possible routes for a
mail truck that stops exactly once at each of, say 10, mail boxes to pick-up outgoing mail
and returns to the post office from where it began, use tree graph to find the best
(shortest) route.