Math 105 Learning Objectives

Percentages

1. Estimate percentages using benchmarks or other appropriate measures
2. Interpret the meaning of percentages when used as a:
• Fraction
• Measurement of change (for numbers and percentages)
• Comparison
• “of” vs “more than”
3. Calculate absolute and relative change/difference/error
4. Use relative change/difference to calculate other values
5. Identify situations with shifting reference values
6. Identify “impossible” percentages
7. Explain problems with averaging percentages

Statistical Studies

1. Identify population, sample, measures of interest (population parameters) for a study
2. Identify two major types of statistical studies (observational, experimental) and identify which is most appropriate
3. Identify control and experimental groups
4. Evaluate a study based on given guidelines
5. Identify situations with positive, negative and no correlation
6. Identify causes for correlation
7. Describe how causation is established and levels of confidence (general)
8. Identify/explain “misused” statistics from published sources:  statistics that are misinterpreted or contradictory, mean vs. median, not statistically significant, unreasonable, etc.
9. Know different sampling techniques
10. Identify reasons why a sample is or is not a representative sample

Characteristics of Data

1.  For a data set, calculate/identify: mean, median, mode, maximum, minimum, range
2. Explain meaning of mean and median
3. Compare effect of outliers on mean and median
4. Compare changes in mean for different sample sizes
5. Identify characteristics of data distribution (e.g., skewness)
6. Read and interpret information from graphs
7. Use graphs to make inferences about data
8. Identify characteristics of misleading graphs

Inferential Statistics

1. Explain the relationship between natural variation, a “true population value” and distribution of data and confidence interval
2. Compare changes in confidence interval for different sample sizes
3. Characterize a result as significant (or not) based on margin of error and/or confidence interval and explain reasoning
4. Understand the relationship between expected value and the Law of Large Numbers

Financial Literacy

1. Explain/Identify characteristics of exponential growth
2. Define characteristics of major types of investments: CDs, savings accounts, real estate, stocks, bonds, mutual funds
3. Explain importance of term, risk, return, liquidity, diversification in investing
4. Explain pros/cons of tax-deferred plans and identify major types of tax-deferred/tax-exempt savings plans
5. Explain major issues in using credit cards: minimum balance, interest rates, fees, etc.
6. Explain basic characteristics of mortgages:  ARM/fixed, down payment, escrow, tax advantages, etc.
7. Explain meaning of amortization
8. Using internet calculators or other technology, solve problems based on savings or debt

Organize and update a math portfolio