Finite Mathematics covers mathematical concepts and techniques applicable to business and social sciences, including matrix algebra, linear programming, and probability.
Companies use finite math to make decisions about production, resource allocation, and risk. By applying matrix algebra, linear programming, and probability, they optimize profits and minimize costs.
Decision-makers build models to answer questions like "How many units should we produce?" or "What's the chance of meeting our sales targets?"
Using linear programming, a bakery finds the best mix of breads and muffins to maximize profit with limited flour and staff hours.
A retailer forecasts demand using probability and adjusts inventory to avoid overstock.
A factory uses matrices to schedule shifts and ensure all machines have operators.