CHAPTER I

MATHEMATICS IN OUR WORLD

TOPICS
1. Numbers and Patterns in Nature & in the Modern World
2. The Fibonacci Sequence

LEARNING OUTCOMES
At the end of the lesson, you should be able to:
 Identify patterns in nature and regularities in the world.
 Argue about the nature of mathematics. (What it is? How it is
expressed, represented and used?)
 Articulate the importance of mathematics in one’s life.
 Express appreciation for mathematics as a human endeavor.

TOPIC 1: Numbers and Patterns in Nature & in the Modern World

Galileo Galilei once said “Mathematics is the language in which God has written the
universe.”

Source: https://wallpaper-house.com/group/the-milky-way-galaxy-wallpaper/index.php

Why does it always explain so well the universe where life forms exist? From the laws
governing the physical world, probing the essence of matter down to its subatomic building
blocks, and even how people communicate wirelessly in a vast worldwide network,
mathematics is what underlies in all these modern wonders.

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 Knowledge of mathematics is definitely one of the greatest achievements of human kind
and its civilizations. Mathematics is mysteriously deep and powerful. But, where does it come
from? Is mathematics discovered or invented by man? Why does it fit and work so well in any
science or endeavor that man faces?

Source: https://www.youtube.com/watch?v=rXFolJiuMl8

NUMBERS AND PATTERNS IN NATURE

When dealing with mathematics, most people associate mathematics with numbers and
measurement. However, mathematics in not just all about numbers and the mumbo-jumbo of
complicated computations. Mathematics is actually more on about patterns and relationships
that can be used to solve daily life problems. Patterns refer to regular, repeated, or recurring
form of designs that are observed in natural objects.
Is mathematics just invented by man or was it already existing in nature and man just
discovered it? Is man the only living creature uses it? Existence of patterns and relationships in
nature made most mathematicians and scientists say mathematics is discovered. What
connections do mathematics and the world have? What do these connections tell us?
We watched the days turned to nights and back to day; and seasons as they come and
go; and called that pattern time. We see symmetrical patterns in the human body and the tiger
stripes and build those patterns into what we create from art to our cities. But what do patterns
tell us?
Why does the spiral of a shell so similar to the spiral of a galaxy or the spiral of an
opened head of a cabbage?

Source:https://www.reddit.com/r/botany/comments/9envyx/is_the_fibonacci_spiral_really_present_in_all/

Human beings often look at nature and search for patterns. Eons ago, we gazed at the
stars and discovered patterns and we called them constellations. We even come in to believe
that they might control our destiny.

2
 It is safe to say the mathematics is the science and art of numbers, patterns, and
relationships. Anywhere you look, you will see measurements, patterns, and relationships.
Mathematics is evident in nature, in man-made arts, designs in architectures, used as a language
by any science and even in the cyberspace or virtual worlds. Thus, mathematics is everywhere.
When scientists seek to understand the patterns of our world, they often turn to a
powerful tool – mathematics. They quantify their observations and used mathematical
techniques to examine them hoping to discover the underlying causes of nature’s rhythms and
regularities; and its worth in revealing the secrets behind the elliptical obits of the planets to the
electromagnetic waves that connect our cellphones. Why does it work at all? Is there an
inherent mathematical nature to reality or is mathematics just all in our heads?

HOW USEFUL IS MATHEMATICS?

 Mathematics is for Prediction - Applying the concepts of probability, experts can

calculate the chance of an event occurring.

 Mathematics is for Organization - Social media analysts can crunch all online postings
using software to gauge the netizen’s sentiments of particular issues of personalities.

 Mathematics is for Control - With the threats of climate change and global warming, it
is believed that man should change his behaviour to save himself and his planet.

 Mathematics is Indispensable - Mathematics at its most basic level, logical reasoning

and critical thinking are crucial skills that are needed in any endeavour.

3
 TOPIC 2: The Fibonacci Sequence
Many mathematicians and scientist are fascinated by the deep and often mysterious
connections between mathematics and the world. If we look at nature, there are numbers all
around us. For instance, if we look at flowers, we will see that there are flowers with numbers of
petals such as three, five, eight, and so on.

Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

These may sound like random numbers but they are all part of a number sequence that
we know as the Fibonacci Sequence. A sequence refers to an ordered list of numbers called
terms, that may have repeated values, and the arrangement of these terms is set by a definitive
rule.

Fibonacci Sequence is a number sequence

developed by a 13th century mathematician
known as Leonardo of Pisa (a.k.a. Fibonacci). The
Fibonacci sequence is an ordered list of numbers
that is formed by adding the preceding two
numbers and it begins with 0, 1, and 1, Then keep
adding the previous two numbers to get the next
one in which case 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5;
and so on. It gives us the following numbers:

0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, …

Today, hundred of years later, this

seemingly arbitrary progression of numbers
fascinates many who see in it as the clue to
everything from human beauty to the stock market. While most of those claims remain
unproven, it is curious how evolution seems to favor these numbers. The Fibonacci numbers
even appears in petal counts - especially of daisies.

4
 Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

Statistically, the Fibonacci numbers do appear a lot in botany. For instance, if you look at
the bottom of a pine cone, you will often see spirals in their scales and you end up counting that
those spirals usually find a Fibonacci number. And if you count the spirals in the other direction
and you will find an adjacent Fibonacci number. It’s the same with how the seeds of a sunflower
head is arranged. If you count the spirals in each direction, you will often find two adjacent
Fibonacci numbers as well.

Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

5
 If examined further, the relationship or the ratio of one Fibonacci number to another as
it progresses, is bound to arrive at a value discovered by the Greeks even way before Fibonacci:
Phi (fie) and also known called as The Golden Ratio.

Fib (0) 0
Fib (1) 1
Fib (2) 1 1÷1 1.000
Fib (3) 2 2÷1 2.000
Fib (4) 3 3÷2 1.500
Fib (5) 5 5÷3 1.667
Fib (6) 8 8÷5 1.600
Fib (7) 13 13 ÷ 8 1.625
Fib (8) 21 21 ÷ 13 1.615
Fib (9) 34 34 ÷ 21 1.619
Fib (10) 55 55 ÷ 34 1.618
Fib (11) 89 89 ÷ 55 1.618
Fib (12) 144 144 ÷ 89 1.618
Fib (13) 233 233 ÷ 144 1.618
Fib (14) 377 377 ÷ 233 1.618

The Golden Ratio or 1.618 is considered to be the aesthetically pleasing proportion. In

fact the number was used by a famous Greek sculptor named Phidias. He proportioned his art
with approximate linear ratio (The Golden Ratio) of 1:1.618 to illustrate the idea of physical
perfection.

Source: https://cdn.britannica.com/04/197804-050-26EE144C/marble-statue-Heracles-workshop-pediment-Parthenon-Phidias.jpg

6
 If this ratio is translated in to geometry like perhaps in a circle, we can get what is
known as The Golden Angle (137.5°). It is common knowledge that a circle has a total central
angle of 360° and with the ratio 1:1.1618, one can simply derive an approximation of 137.5°.

Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

This angle is widely observed in nature. For instance, in plants, the most effective way to
sprout or grow leaves on a stem as what most plants follow as their growth pattern is if the new
one will grow at approximately 137.5° after the previous one.

Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

One consequence of sprouting leaves this way is the minimal blockage of sunlight on the
leaves below when the sun is high. It can even be observed on a cactus if viewed from above.

7
 The Golden Rectangle, which sides are in the ratio 1:1.618, is also evident in most art
forms, architectures, and even in nature.

We can also build a Golden Rectangle by using squares whose areas are successive
Fibonacci numbers. In reference to our Golden Rectangle, if we join each corner of its squares
with arcs of a circle, these arcs combined form the spiral that we see often in plants, shells, and
even the spiral that resembles a galaxy.

8
 The more we look in to natural phenomena - the more we see the evidences of the
Golden Ratio and the Golden Angles and it often leads us to spirals.

Source: https://www.youtube.com/watch?v=VE_RU0fNjt0

9
 Short Response: Answer with a maximum of three (3) sentences each.

1. What is mathematics? (Define it.)

…………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………

2. Where is mathematics? Explain briefly.

…………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………

3. How is mathematics used in today’s world? (Give one answer only.)

…………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………

4. In your own opinion, is mathematics invented or discovered? Why?

…………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………

5. How important is mathematics in one’s life? Explain briefly.

…………………………………………………………………………………………………………………………………
…………………………………………………………………………………………………………………………………

For each item, the holistic rubrics below will be used to grade the student’s answer.

Numerical
Verbal Description
Score
The student elicits the correct ideas from the readings and video,
4 shows evidence of internalizing these, and consistently
contributes additional thoughts to the core idea.
The student not only elicits the correct ideas from the readings
3
and video but also shows evidence of internalizing these.
The student is able to elicit the ideas and concepts from the
2
readings and videos and shows correct understanding of these.
The student is able to elicit the ideas and concepts from the
1
readings and video but shows erroneous.
The student is unable to elicit the ideas and concepts from the
0 reading and video indicating that s/he has not read the prescribed
reading or watched the video.

10
 Multiple Choice: Shade the box of the letter that corresponds to the correct

1. Mathematics is a science and an art that deals with _________________.

A Numbers B Patterns C Relationships D All of the above

2. It refers to regular, repeated, or recurring form of designs that are observed in natural objects.

A Rhythm B Pattern C Relationship D Sequence

3. It refers to an ordered list of numbers called terms, that may have repeated values, and the
arrangement of these terms is set by a definitive rule.

A Rhythm B Pattern C Relationship D Sequence

It refers to an ordered list of numbers that is formed by adding the preceding two numbers and it
4.
begins with 0 and 1.

The Golden Fibonacci

A B The Golden Ratio C D Fibonacci Spiral
Angle Sequence

5. It refers to a value that’s considered as the most aesthetically pleasing proportion 1: 1.618.

The Golden Fibonacci

A B The Golden Ratio C D Fibonacci Spiral
Angle Sequence

Applying the concepts of probability, experts can calculate the chance of an event occurring.
6.
This implies that ___.

Math is for Math is for Math is for Math is

A B C D
organization prediction control indispensable

7. Social media analysts can crunch all online postings using software to gauge the netizen’s
sentiments of particular issues of personalities. This implies that ___________.

Math is for Math is for Math is for Math is

A B C D
organization prediction control indispensable

11
8. Mathematics at its most basic level, logical reasoning and critical thinking are crucial skills
that are needed in any endeavour. This implies that _____________.

Math is for Math is for Math is for Math is

A B C D
organization prediction control indispensable

9. With the threats of climate change and global warming, it is believed that man should change
his behaviour to save himself and his planet. Math provides measurement as hard evidence
and these are analyzed for decision-making processes. This implies that ______________.

Math is for Math is for Math is for Math is

A B C D
organization prediction control indispensable

10. The Fibonacci Sequence was discovered by __________.

A Bonacci of Pisa B Fibonae of Pisa C Leandro of Pisa D Leonardo of Pisa

11. If Fib (22) = 17,711 and Fib (24) = 46,636. What is the value of Fib (23)?

A 28,657 B 10,946 C 11,214 D 28,925

12. If Fib (22) = 17,711 and Fib (24) = 46,636. What is the value of Fib (21)?

A 28,657 B 10,946 C 11,214 D 28,925

13. If Fib (32) = 2,178,309 and Fib (34) = 5,702,887. What is the value of Fib (31)?

A 1,269,346 B 1,346,269 C 1,634,269 D 1,436,926

14. If Fib (32) = 2,178,309 and Fib (34) = 5,702,887. What is the value of Fib (33)?

A 3,524,578 B 3,578,524 C 3,245,578 D 3,524,785

15. If Fib (32) = 2,178,309 and Fib (34) = 5,702,887. What is the value of Fib (35)?

A 9,722,645 B 9,272,465 C 9,227,645 D 9,227,465

12
 Creation time!

You are tasked to create a painting artwork in relation to the appreciation of

Mathematics in Nature and the nature of mathematics itself.
The output will be graded based on:
Relevance to Topic - 40%
Elements of Design - 40%
Originality - 20%

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 Chapter II
MATHEMATICAL LANGUAGE AND SYMBOLS

TOPICS
1. Mathematical Language
2. The Language of Sets
3. The Language of Relations and Functions

LEARNING OUTCOMES
At the end of the lesson, you should be able to:
 Discuss the language, symbols, and conventions of Mathematics.
 Explain the nature of Mathematics as a language.
 Compare and contrast expression and sentences.
 Discuss the concept of sets.
 Represent sets using roster method and rule method.
 Differentiate roster method and rule method.
 Differentiate finite set and infinite set.
 Discuss different set terminologies.
 Solve problems involving sets.
 Discuss the concept of relations and functions.
 Identify the domain and range of relations.
 Identify relations which are functions and not functions.
 Represent relations and functions using mapping diagrams.

For thousand years, mathematicians had developed spoken and written natural
languages that are highly effective for expressing mathematical language. This
mathematical language has developed and provides a highly efficient and powerful tool
for mathematical expression, exploration, reconstruction after exploration, and
communication. Its power comes from simultaneously being precise and yet concise.
But the mathematical language is being used poorly because of poor understanding of
the language. The mathematical language and logical reasoning using that language
form the everyday working experience of mathematics.

14
 Notably, mathematics has its own language, much of which we are already familiar
with e.g. the digits 0, 1, 2, 3, 4, 5, 6, 7, 8, 9. Whether we refer to 0 as "zero," or
"nothing" we understand its meaning. There are many symbols in mathematics and
most are used as a precise form of shorthand. It is quite important that we familiarize
ourselves using these symbols and we understand their meaning. Mathematical
language can easily be understood by context and convention. Context is what we are
working or the particular topics being studied, while convention is where
mathematicians and scientists have decided that particular symbols will have particular
meaning.
The mathematical language is the system used to communicate mathematical
ideas. This language consists of some natural language using technical terms
(mathematical terms) and grammatical conventions that are uncommon to
mathematical discourse, supplemented by a highly specialized symbolic notation for
mathematical formulas. The mathematical notation used for formulas has its own
grammar and shared by mathematicians anywhere in the globe.

CHARACTERISTICS OF MATHEMATICAL LANGUAGE

The characteristic of mathematical language is being precise, concise, and

powerful.

15
 An expression (or mathematical expression) is a finite combination of symbols
that is well defined according to rules that depend on the context. The symbols can
designate numbers, variables, operations, functions, brackets, punctuations, and
groupings to help determine order or operations, and other aspects of mathematical
syntax. An expression is a correct arrangement of mathematical symbols used to
represent the object of interest, it does not contain a complete thought, and it cannot
be determined if it is true or false. Some types of expressions are numbers, sets, and
functions.

EXAMPLES OF MATHEMATICAL EXPRESSIONS

 1000  a+b
 5x  58 – 7n
 8x + 10  18h – 27f
 -99  67c – 33b
 2 (18 + y)  X2 + 3x - 4

On the other hand, a sentence (or mathematical sentence) makes a statement

about two expressions, either using numbers, variables, or a combination of both. A
mathematical sentence can also use symbols or words like equals, greater than, or less
than. A mathematical sentence is a correct arrangement of mathematical symbols that
states a complete thought and can be determined whether it's true, false, sometimes
true/sometimes false.

EXAMPLES OF MATHEMATICAL SENTENCES

 1000 > 500  a + b = a – 7b – 2

 10x + 5 = 25  5 – 7n = 19
 4x + 10 = 50  3e – 2b = e – 6b + 2
 100y < 2 (20y)  100g < 3 (33g)
 2 (18 + y) = 4  X2 + 2x = 9

16
 Mathematical languages have conventions and it helps individual distinguish
between different types of mathematical expressions. A mathematical convention is a
fact, name, notation, or usage which is generally agreed upon by mathematicians. Let
say, for example, one evaluates multiplication before addition following the principle of
PEMDAS (Parenthesis, Exponent, Multiplication, Division, Addition and Subtraction.
Mathematicians abide by conventions to be able to understand what they write without
constantly having to redefine basic terms. Almost all mathematical names and symbols
are conventional.
Like any other discipline, mathematics also has its own brand of technical terms. In
some cases, a word in general usage has a different and specific meaning within
mathematics- some examples are group, ring, field, term, factor, etc. In other cases,
special terms have been introduced- some examples are tensor, fractal, functor, etc.
Mathematical statements also have its own taxonomy like axiom, conjecture, theorems,
lemma and corollaries. There are also some mathematical phrases (or mathematical
jargon) used with specific meanings, such as "if and only if", “necessary and sufficient"
and “without loss of generality".
Mathematical language consists of making use of mathematics symbolism.
Understanding mathematics is realizing what symbolism corresponds to the structure
that has been abstracted. It is not enough for an individual to understand mathematics,
we must also know how speak mathematics by knowing how to handle symbols.

17
The Language of Sets
Forget everything you know about numbers. In fact, forget you even know what
a number is. This is where Mathematics starts. Instead of math with numbers, we will
now think about math with “things”.
Set theory is the branch of Mathematics that studies
sets or the mathematical science of the infinite. The study of
sets has become a fundamental theory in Mathematics in
1870s which was introduced by Georg Cantor (1845-1918), a
German mathematician.
What is a set? Well, simply put, it’s a collection. A set
is a well-defined collection of objects; the objects are called
the elements or members of the set. The symbol is used to
denote that an object is an element of a set, and the symbol
denotes that an object is not an element of a set.

SOME EXAMPLES OF SETS:

 A = {x ꟾ x is a positive integer less than 10}

 B = {-1,-2, -3, -4, -5, -6, -7}
 C = {x ꟾ 10 < x < 20}
 D = The set of letters in the word dirt.
 E = {x ꟾ x is a set of consonant letter in the Englih alphabet}

18
 Set can be represented in any one of the following ways or forms. One way is to
give a verbal description of its elements. This is known as the Descriptive form of
specification. Another is Roster method. This is when the elements of the set are
enumerated and separated by a comma. It is also called Tabulation method. Lastly, is
the Rule method which describes the elements or members of the set. It is also called
Set builder notation.

In the rule method or set builder notation ‘ꟾ ’ is read as “such that”.

Example 1
A= {x ꟾ 10 < x < 20}
We read it as
“A is the set of all x such that x is a greater than 10 but less than 20”
Example 2
B= { x ꟾ x is a vowel in English alphabet}
“A is the set of all x such that x is a vowel in the English Alphabet”

19
 TRY IT YOURSELF!

Direction: Given below are some sets. Your task is to identify whether the given set is
written in descriptive form, in roster method or in rule method.
1. A = {x ꟾ x is a positive integer less than 15}
2. B = The set of odd numbers more than 15 but less than 35.
3. C = {5, 10, 15, 20, 25, 30, 35, 40, 45,..}
4. D = {x ꟾ x is a set of consonant letter in an English alphabet}
5. E = {x ꟾ x is a positive integer greater than 45}
6. F = {m, a, t, h}
7. G = {3,6,9,12,15}
8. H = The set of counting numbers less than 20.
9. I = {x ꟾ x is a whole number greater than 12}
10. J = {x ꟾ 40 > x > 20}

TRY HARDER!

Direction: Given below are some sets written in descriptive method. Your task is to
write each given sets into its roster method and rule method.
1. Q = The set of all prime numbers less than 100.
2. R = The set of even natural numbers less than 11.
3. S = The set of letters in the word universe.
Direction: Given below are some sets written in roster method. Your task is to write
each given sets into its descriptive and rule method.
4. K = {2, 4, 6, 8, 10, 12, 14, 16, 18, 20}
5. L = {1, 2, 4, 5, 10, 20, 25, 50, 100}
6. O = {e, g, o}
Direction: Given below are some sets written in rule method. Your task is to write each
given sets into its descriptive method and roster method.
7. P = {x ꟾ 13 < x < 24}
8. Q = {x ꟾ 43 > x > 29}
9. R = {x ꟾ x is a negative integer greater than -14}
10. S = {x ꟾ x is a whole number less than 16}

20
 A finite set is a set whose elements are limited or countable, and the last
element can be identified. On the contrary, an infinite set is a set whose elements are
unlimited or uncountable, and the last element cannot be specified.
Example:

FINITE SET INFINITE SET

A = {2, 4, 6, 8, 10, 12, 14, 16, 20} V = {2, 4, 6, 8, 10, 12, 14, 16...}
B = {100, 200, 300, 400, 500, 600} W = {...200, 300, 400, 500, 600}
C = {x ꟾ 15 < x < 25} X = {x ꟾ x > 20}
D = {x ꟾ x is a whole number less than 9} Y = {x ꟾ x is a whole number greater than 5}
E = {x ꟾ x is a positive integer less than 12} Z = {x ꟾ x is a negative integer less than 7}

A unit set is a set with only one element. It is also called singleton.
Example:

UNIT SET
K = {90}
L = {x ꟾ x is a whole number greater than 1 but less than
3}
M = {x ꟾ x 19 < x < 21}

On contrary, a null set is a set with no elements. It is also called an empty set
and is denoted by the symbol

NULL SET
Q = {x ꟾ x is a whole number greater than 10 but less than 11}
R = {x ꟾ x is a negative integer greater than 1}
S = {x ꟾ x is a whole number less than 0}

21
 The cardinal number of a set is the number of elements or members in the set.
Example:

SET CARDINALITY
E = {3, 6, 9, 12, 15, 18, 21, 24, 27, 30} n(E) = 10
F = {x ꟾ x is a whole number greater than 1 but less than 14} n(F) = 12
G = {x ꟾ 19 < x 24} n(G) = 5

If A and B are sets, A is called subset of B, written as A B, if and only if, every
element of A is also an element of B.
Example:

If A and B are sets, A is a proper subset of B, written as A B, if and only if,

every element of A is in B but there is atleast one element of B that is not in A.
Example:

If A and B are sets, A equals B, written A = B, if and only if every element of A is

in B and every element of B is in A.

22
Example:

Power set is the collection of all subsets of a given set. It is denoted by .

Example:

SET POWER SET

X= {e, f} X = {{e}, {f}, {e, f}, { }}
Y= {1, 2, 3, 4} Y = {{1}, {2}, {3}, {4}, {1, 2}, {1, 3}, {1, 4}, {2, 3}, {2, 4}, {3, 4},
{1, 2, 3}, {2, 3, 4}, {3, 4, 1}, {4, 1, 2}, {1, 2, 3, 4}, { }}.

The union of A and B, denoted by A B, is the set of all elements x in U such

that x is in A or x is in B.
Example:

Elements with the same identity in Set A and B is can be written once in AUB. So,
we need not to write three 3’s in AUB.
The intersection of A and B, denoted by A B, is the set of all elements x in U
such that x is in A and x is in B.
Example:

Two sets are called disjoint (or non-intersecting) if and only if, they have no
elements in common. In symbol, A B = .
Example:

23
 The Cartesian product of sets A and B, written as A x B. Given sets A and B, the
Cartesian product of A and B, denoted A x B and read “A cross B” is the set of all
ordered pairs (a,b), where a is in A and b is in B.
Example:

TRY IT YOURSELF!

Direction: Given below are some sets. Your task is to identify whether the given set is a
finite set or an infinite set.
1. K = {x ꟾ x is a positive integer less than 98}
2. J = {50, 100, 150, 200, 250, 300, 350, 400, 450...}
3. Z = {x ꟾ x is a negative integer less than 0}
4. Y = {l, o, v, e}
5. X = {x ꟾ 104 < x < 150}
6. W= {x ꟾ x is a whole number greater than 1200}
7. V = {-9, -11, -13, -15, -17, -19, -21, -23, -25}
8. U= {x ꟾ 27 > x > 11}
9. T = {x ꟾ x is a set of letters in the alphabet}
10. S = {x ꟾ x > 58}

TRY HARDER!

Direction: Given below are some sets. Your task is to identify whether the given set is a
unit set or a null set.
1. Y = {16}
2. T = {x ꟾ x is a negative integer greater than 17}
3. R = {x ꟾ x is a whole number greater than 5 but less than 6}
4. A = {x ꟾ x 91 < x < 93}
5. P = {x ꟾ x is a positive integer greater than 10 but less than 11}

24
Direction: Given below are some sets. Your task is to identify the cardinality of each set.
6. T = {x ꟾ 34 < x < 45} n(T)= _________
7. W = {x ꟾ 43 > x > 39} n(W)= _________
8. O = {x ꟾ x is a negative integer greater than -16} n(O)= _________
9. S = {x ꟾ x is a whole number less than 19} n(S)= _________
10. N = {x ꟾ x is a positive integer less than 22} n(N)= _________

ASSESSMENT TIME!

Direction: Given below are Set A, Set B, Set C, Set D and Set E. Solve for the following
using these sets.
A = {5, 10, 15, 20, 25, 30, 35, 40, 45, 50, 55, 60}
B = {5, 10, 20, 40, 80, 160}
C = {1, 2, 4, 5, 10, 20, 25, 50, 100}
D = {3, 6, 9, 12, 15, 18, 21, 24, 27, 30}
E = {-1, -2, -3, -4, -5, -6, -7, -8, -9, -10}

1. A B = ____________________
2. A C = ____________________
3. A D = ____________________
4. A E = ____________________
5. B C = ____________________
6. B D = ____________________
7. B E = ____________________
8. C D = ____________________
9. C E = ____________________
10. D E = ____________________

25
Direction: Given below are Set F, Set G, and Set H. Solve for the following using these
sets.
F = {21, 22, 23, 24, 25}
G = {-3, -2, -1, 0, 1, 2, 3}
H = {4, 8, 12, 16}

11. = _______________________________________________
12. = _______________________________________________
13. = _______________________________________________
14. F x G = _______________________________________________
15. G x H = _______________________________________________

TEST YOURSELF: CARTESIAN PRODUCTS

Let A = {1,2,3,} and B = {a, r}.

1. Find A X B.
2. Find B X A.
3. Find B X B.
4. How many elements are in A X B, B X A, and B X B?

26
The Language of Functions and Relations
There are many kinds of relationship in the world. For instance, we say that two
people are related by blood if they share a common ancestor and that they are related
by marriage if one shares a common ancestor with the spouse of the other. We also
speak of the relationship between student and teacher, between people who work for
the same employer, and between people who share a common ethnic background.
Similarly, the objects of Mathematics may be related in various ways. Relations
and Functions is one of the most important topics in Algebra. Relations and functions –
these two words are so intertwined with one another, you might get confused about
their difference. Before we go deeper, let us understand the difference between these
two terms.
In the real world, there are several situations that involve relationships between
two sets. We often use the term ‘relation’ to describe these relationships. When we
speak of a relation in Mathematics, we refer to a well-defined relationship between
two sets of numbers.

A relation is a set of ordered pairs. If x and y are elements of these sets and if a
relation exists between x and y, then we say that x corresponds to y or that y depends
on x and is represented as the ordered pair of (x, y).

27
SOME EXAMPLES OF RELATIONS:

A function is a relation which describes that there should be only one output for
each input. It is a special kind of relation which follows a rule – every x-value should be
associated to only one y-value.

SOME EXAMPLES OF FUNCTIONS:

28
 As you noticed from the above examples, these are functions because there is
only one output (range) for each input (domain) or there are no values of inputs
(domains) repeated.

Aside from using tables, another way of representing relations and function is
through the use of mapping diagrams. It is like a flow chart showing the input and
output values. A mapping diagram consists of two parallel columns. The first column
represnts the domain and the other column its range.
EXAMPLES:
J= {(4, 7), (9, 3), (8, 1), (6, 5)} K= {(3, 8), (4, 8), (7, 6), (9, 3)}
DOMAIN RANGE DOMAIN RANGE

29
M= {(5, 7), (6, 2), (8, 1), (3, 9)} N= {(3, 1), (4, 1), (7, 6), (9, 3)}
ONE TO ONE MANY TO ONE
DOMAIN RANGE DOMAIN RANGE

O= {(2, 4), (2, 3), (8, 1), (6, 5)}

ONE TO MANY
DOMAIN RANGE

30
 TRY IT YOURSELF!

Direction: Given below are some relations. Your task is to identify the domain and
range of each relations.
RELATIONS DOMAIN RANGE

A= {(1, 9), (3, 4), (2, 5), (4, 16)} ______________ _____________

B= {(-2, -7), (-1, -3), (0, -1), (1, 15), (12, 5)} ______________ _____________

C= {(13, 0), (23, 22), (27, 24), (29, 15)} ______________ _____________

D= {(1, -5), (-2, 16), (-13, 7), (14, 8)} ______________ _____________

E= {(4, 17), (19, 7), (-8, -1), (16, -15)} ______________ _____________

F= {(23, 8), (24, 8), (27, 8), (29, 8)} ______________ _____________

G= {(73, 0), (83, 2), (67, 4), (59, 1)} ______________ _____________

H= {(61, 5), (62, 6), (73, 7), (94, 8)} ______________ _____________

I= {(14, 7), (19, 7), (18, 1), (16, 5)} ______________ _____________

J= {(43, 8), (44, 8), (47, 8), (39, 8)} ______________ _____________

TRY HARDER!

Direction: Given below are some relations. Your task is to identify whether the following
relations are functions or not functions.

1. A= {(1, 19), (3, 24), (2, 25), (4, 16)} ___________________________

2. B= {(-2, -17), (-2, -13), (0, -11), (1, 15), (12, 15)} ___________________________
3. C= {(13, 0), (13, 2), (27, 4), (29, 1)} ___________________________
4. D= {(1, -8), (-2, 16), (-13, 7), (4, 8)} ___________________________
5. E= {(4, 17), (4, 7), (8, -1), (12, -15)} ___________________________
6. F= {(23, 28), (24, 28), (27, 29), (29, 38)} ___________________________
7. G= {(73, 20), (83, 22), (67, 24), (59, 21)} ___________________________
8. H= {(61, 5), (62, 6), (62, 7), (94, 8)} ___________________________
9. I= {(14, 7), (19, 7), (18, 9), (14, 5)} ___________________________
10. J= {(43, 28), (44, 38), (47, 24), (39, 25)} ___________________________

31
ASSESSMENT TIME!

Direction: Given below are some relations and functions. Your task is to construct
mapping diagrams of each relations and functions. (5 points each)
1. A= {(21, 9), (23, 4), (21, 5), (24, 6)} DOMAIN RANGE

2. A= {(31, 69), (33, 64), (31, 67), (34, 66)} DOMAIN RANGE

3. A= {(2, 90), (3, 94), (5, 95), (2, 86)} DOMAIN RANGE

4. A= {(41, 82), (43, 82), (44, 86), (47, 76)} DOMAIN RANGE

32
 Chapter III
PROBLEM SOLVING AND REASONING

TOPICS
1. Inductive and Deductive Reasoning
2. Problem Solving with Patterns
3. Problem Solving Strategies

LEARNING OUTCOMES
At the end of the lesson, you should be able to:
 Discuss the concept of inductive reasoning.
 Discuss the concept of deductive reasoning.
 Compare and contrast inductive and deductive reasoning.
 Solve problems involving inductive and deductive reasoning.
 Discuss the concept of patterns.
 Discuss the concept of difference table.
 Construct difference table of sequences.
 Discuss the concept of Polya’s problem-solving strategy.

Paul Lockhart said “Mathematics is the art of explanation.” Owning an argument

makes someone become more independent in their decision and belief processes.
Inside and outside the field of Mathematics, we need to be able to think for ourselves
and decide the truth or completeness of arguments. Doing this, therefore should
become a habit of mind.

33
 Example 1: Use Inductive Reasoning to Predict a Number

Problem:
Use inductive reasoning to predict the next number in each of the following lists.

 3, 6, 9, 12, 15, __?__

Solution:
Each successive number is 3 larger than the preceding number. Thus we
predict that the next number in the list is 3 larger than 15, which is 18.

Problem:

 2, 5, 10, 17, 26, __?__

Solutions:

 The first two numbers differ by 3. The second and the third numbers
differ by 5. It appears that the difference between any two numbers is a
series of odd number. The difference of 17 and 26 is 9. From that pattern,
we can anticipate the difference of 26 and the next number should be 11.
In order for that to happen, the next number should be 37.

Example 2: Use Inductive Reasoning to Make a Conjecture

Given problem:
Consider the following procedure.

 Pick a number. Multiply the number by 8, add 6 to the product, divide

the sum by 2, and subtract 3.
Solution:

 Suppose we pick 5 as our ori inal number. Then the procedure would
g
pro uce the following results:
d

Original number: 5
Multiply by 8: 8 x 5 = 40
Add 6: 40 + 6 = 46

34
 Divide by 2: 46 2 = 23
Subtract 3: 23 3 = 20
Resulting number: 20
Original number: 6
Multiply by 8: 8 x 6 = 48
Add 6: 48 + 6 = 54
Divide by 2: 54 2 = 27
Subtract 3: 27 3 = 24
Resulting number: 24

We started with 5 and followed the procedure to produce 20. Starting with 6 as
our original number produces a final result of 24. In each of these cases the resulting
number is four times the original number.

Given problem:
Consider the data in the given table.
Length of pendulum, Period of pendulums, in
in units heartbeats
1 1
4 2
9 3
16 4
25 5
36 6

 If a pendulum has a length of 49 units, what is its period?

Solution:

 In the table, each pendulum has a period that is the square root of its
length. Thus we conjecture that a pendulum with a length of 49 units will
have a period of 7 heartbeats.

35
 Example 1: Use Deductive Reasoning to Make a Conjecture

Given problem:
Consider the following procedure. Use deductive reasoning to show that the
following procedure produces a number that is four times the original number.
 Pick a number. Multiply the number by 8, add 6 to the product, divide
the sum by 2, and subtract 3.
Solution:

 Let n represent the original number.

Multiply the number by 8: 8n

Add 6 to the product: 8n + 6
8n+6
Divide the sum by 2:
2
= 4n + 3
Subtract 3: 4n + 3 3 = 4n
*We started with n and ended with 4n. The procedure given in this example produces a
number that is four times the original number.

36
 Determine Types of Reasoning

Determine whether each of the following arguments is an example of inductive

reasoning or deductive reasoning.
Given problem:
 During the past 10 years, a tree has produced plums every other year.
Last year the tree did not produce plums, so this year the tree will
produce plums.
Solution:
 This argument reaches a conclusion based on specific examples, so it is
an example of inductive reasoning.

Given problem:
 All home improvements cost more than the estimate. The contractor
estimated that my home improvement will cost 35 000 pesos. Thus my
home improvement will cost more than 35 000 pesos.
Solution:
 Because the conclusion is a specific case of a general assumptions, this
argument is an example of deductive reasoning.

ASSESSMENT TIME!

Direction: Solve the following problems involving inductive and deductive reasoning.

1. Use inductive reasoning to predict the next number in each of the following lists.
a. 5, 10, 15, 20, 25, 30, 35, 40, __?__
b. 2, 5, 10, 17, 26, __?__
c. 3, 6, 12, 24, 48, 96, 192, __?__
d. 1, 4, 9, 16, 25, 36, 49, 64, 81, 100, __?__

2. Use inductive reasoning and consider the following procedure:

a. Pick a number. Multiply the number by 9, add 15 to the product, divide the
sum by 3, and subtract 5.
b. Pick a number. Multiply the number by 4, add 8 to the product, divide the
sum by 2, and subtract 6.

3. Use inductive reasoning to solve this problem:

A tsunami is a sea wave produced by an underwater earthquake. The
height of a tsunami as it approaches land depends on the velocity of the
tsunami. Use the table below to answer each of the following questions.

37
Velocity of tsunami, in feet per second Height of tsunami, in feet
6 4
9 9
12 16
15 25
18 36
21 49
24 64

a. What happens to the height of a tsunami when its velocity is doubled?

b. What should be the height of a tsunami if its velocity is 30 feet per second?

4. Use deductive reasoning to show that the following procedures produces a

number that is three times the original number.
a. Pick a number. Multiply the number by 6, add 10 to the product, divide the
sum by 2, and subtract 5. Hint: Let n represent the original number.
5. Determine whether each of the following arguments is an example of inductive
reasoning or deductive reasoning.
a. All Nicolas Sparks novels are worth reading. The novel The Best of Me is a
Nicolas Sparks novel. Thus The Best of Me is worth reading.
b. I know I will win a jackpot on this slot machine in the next 10 tries, because it
has not paid out any money during the last 45 tries.

6. Using Venn diagrams, compare and contrast inductive reasoning and deductive
reasoning.

INDUCTIVE REASONING DEDUCTIVE REASONING

38
Problem Solving with Pattern
Pattern analysis is a critical 21st century skill. Finding a pattern is a strategy in
which students look for patterns in the data in order to solve the problem. In here,
students look for items or numbers that are repeated or a series of events that repeat.
An ordered list of numbers such as
5, 14, 27, 44, 65,…
is called a sequence. The numbers in a sequence that are separated by commas
are the terms of the sequence. In the above sequence, 5 is the first term, 14 is the
second term, 27 is the third term, 44 is the fourth term, and 65 is the fifth term. The
three dots “…” indicate that the sequence continues beyond 65, which is the last
written term. It is customary to use the subscript notation an to designate the nth term
of a sequence.

a1 represents the first term of a sequence.

a2 represents the second term of a sequence.
a3 represents the third term of a sequence.
.
.
.
an represents nth term of a sequence.

Example:
In the sequence 2, 6, 12, 20, 30, … , n2 + n, …
a1 = 2, a2 = 6, a3 = 12, a4 = 20, a5 = 30, and an = n2 + n

TOPIC 2: DIFFERENCE TABLE

When we examine a sequence, it is natural to ask questions like “What is the

next term?” and “What formula or rule can be used to generate the terms?”. To
answer these questions, we often construct a difference table, which shows the
differences between successive terms of the sequence.

39
 Example 1: Difference table of the sequence 2, 5, 8, 11, 14, …

Sequence: 2 5 8 11 14

First differences: 3 3 3 3

Each of the numbers in second row of the difference table is the difference
between the two closest numbers just above it (upper right number minus upper left
number). The differences in the second row are called the first differences of the
sequence. In this case, the first differences are all the same. Thus, if we the use the
above difference table to predict the next number in the sequence, we predict that 14 +
3 = 17 is the next term of the sequence.

Example 2: Difference table of the sequence 5, 14, 27, 44, 65, …

Sequence: 5 14 27 44 65

First differences: 9 13 17 21

Second differences:
4 4 4

In this difference table, the first differences are not all the same. In such a
situation it is often helpful to compute the successive differences of the first differences.
These are shown in third row. These differences of the first differences are called the
second differences. The differences of the second differences are called the third
differences, and so on.
To predict the next term of the sequence, we often look for a pattern in a row of
differences. For instance, in the following difference table, the second differences are
equal to 4. If the pattern continues, then 4 would also be the next second difference,
and we can extend the table to the right as shown.

40
 Sequence: 5 14 27 44 65

1st differences: 9 13 17 21 25

2nd differences: 4 4 4 4

Now we work upward. That is, we add 4 to the first difference 21 to produce the
next first difference, 25. We then add this difference (25) to the fifth term, 65, to
predict that 90 is the next term in the sequence. This process can be repeated to
predict additional terms of the sequence.

Sequence: 5 14 27 44 65 90

1st differences: 9 13 17 21 25

2nd differences: 4 4 4 4

ASSESSMENT TIME!

Direction: Identify the missing terms of the following sequence by constructing

difference table.
1. Use difference table to predict the next term in the sequence.
2, 7, 24, 59, 118, 207, ______

Sequence: 2 7 24 59 11 20 ___

1st differences: ___ ___ ___ ___ ___ ___

2nd differences: ___ ___ ___ ___ ___

3rd differences: ___ ___ ___ ___

41
 2. Use difference table to predict the next term in the sequence.
1, 14, 51, 124, 245, 426, ______

Sequence: 1 14 51 124 24 42 ___

1st differences: ___ ___ ___ ___ ___ ___

2nd differences: ___ ___ ___ ___ ___

3rd differences: ___ ___ ___ ___

INTRODUCTION TO POLYA’S PROBLEM-SOLVING STRATEGY

In the seventeenth century, the mathematician and philosopher René Descartes

(1596-1650) contributed to the field of heuristics – the study of the methods and rules
of discovery and invention. He tried to develop a universal problem-solving method.
Although he did not achieve this goal, he did publish some of his ideas in Rules for the
Direction of the Mind and his better known work Discourse de
la Methode.
Another mathematician and philosopher, Gottfried
Wilhelm Leibnitz (1646–1716), planned to write a book on
heuristics titled Art of Invention where he wrote, "Nothing is
more important than to see the sources of invention which are,
in my opinion, more interesting than the inventions
themselves.”
One of the foremost recent mathematicians to make a
study of problem solving was George Polya (1887–1985). He
was born in Hungary and moved to the United States in 1940.
He taught for a short period of time at Brown University before moving to
Stanford University in 1942 and taught there until his retirement. He published 10
books and a number of articles for mathematics journals. Of the books he published,
the book entitled How to Solve it (1945) is one of his best known. “It is better to solve
one problem five different ways, than to solve five problems one way”, he said.

42
 POLYA’S FOUR-STEP PROBLEM-SOLVING STRATEGY

The basic problem-solving strategy that Polya advocated consisted of the

following four steps.

Polya’s four steps are deceptively simple. To become a good problem solver, it
helps to examine each of these steps and determine what is involved.

43
44
 SAMPLE PROBLEMS USING POLYA’S FOUR-STEP PROBLEM-SOLVING STRATEGY

Example 1:

Carl Friedrich Gauss was a scientist and mathematician. He is known for having shown
mathematical prowess as early as age three. It is reported that soon after Gauss entered
elementary school, his teacher assigned the problem of finding the sum of the first 100 natural
numbers. Gauss was able to determine the sum in a matter of a few seconds. The following
solution shows the thought process he used.
Step 1: Understand the Problem
The sum of the first 100 natural numbers is represented by 1 + 2 + 3 + … + 98 + 99 + 100
Step 2: Devise a Plan
Adding the first 100 natural numbers from left to right would be time consuming. Gauss
considered another method. He added 1 and 100 to produce 101. He noticed that 2 and 99
have a sum of 101, and that 3 and 98 have a sum of 101. Thus the 100 numbers could be
thought of as 50 pairs, each with a sum of 101.
Step 3: Carry Out the Plan
To find the sum of the 50 pairs, each with the sum of 101, Gauss multiplied 50 to 101
and arrived at 5050 as the solution. In equation, n .
Step 4: Review the Solution
Because the addends in an addition problem can be placed in any order without
changing the sum, Gauss was confident that he had the correct solution.

Example 2:
A hat and a jacket together cost 100 pesos. The jacket costs 90 pesos more than the hat.
How much do the jacket and the hat cost?
Step 1: Understand the Problem
After reading the problem for the first time, you may think that the jacket costs 90
pesos and the hat costs 10 pesos. The sum of these costs is 100 pesos, but the cost of the jacket
is only 80 pesos more than the cost of the hat. We need to find two peso amounts that differ by
90 pesos and whose sum is 100 pesos.

Step 2: Devise a Plan

It is advised to identify first all known information or the variables before writing an
equation. Let j be the price of the jacket and h be the price of the hat.
j + h = 100
j = h + 90
h=h
Then, j + h = 100 → (h + 90) + h = 100

Write an equation using h for the cost of the hat and h + 90 for the cost of the jacket. In
equation, (h + 90) + h = 100.
Step 3: Carry Out the Plan
Solve the equation for h.

45
 (h + 90) + h = 100
a+i n
an i
an
an
The cost of the hat is 5 pesos and the cost of the jacket is 90 pesos + 5 pesos = 95 pesos.
Step 4: Review the Solution
The sum of the costs is 5 pesos + 95 pesos = 100 pesos, and the cost of the jacket is 90
pesos more than the cost of the hat. This check confirms that the hat costs 5 pesos and the
jacket costs 95 pesos.

Example 3:
Two times the sum of a number and 3 is equal to thrice the number plus 4. Find the
number.
Step 1: Understand the Problem
We need to make sure that we have read the question carefully several times. Since we
are looking for a number, we will let x be a number.

Step 2: Devise a Plan

Let x be the number. We will translate the problem mathematically. Two times the sum
of a number and 3 is equal to thrice the number plus 4. In equation, + n + .
Step 3: Carry Out the Plan
Solve for the value of x.
+ n +
+൅n +
n൅
n
Step 4: Review the Solution
If we take two times the sum of 2 and 3, that is the same as thrice the number 2 plus 4
which is 10, so this does check. Thus the number is 2.

46
ASSESSMENT TIME!

Direction: Solve the following problems using Polya’s four-step problem-solving

strategy. (20 points each)

1. A baseball team won two out of their last four games. In how many different
orders could they have two wins and two losses in four games?

 Understand the problem (5)

 Devise a plan (5)
 Carry out the plan (5)
 Review the solution (5)

2. Determine the digit 100 places to the right of the decimal point in the decimal
representation 2 .

 Understand the problem(5)

 Devise a plan (5)
 Carry out the plan (5)
 Review the solution (5)

p
3. The product of the ages, in years, of three teenagers is 4590. None of the teens
have the same age. What are the ages of the teenagers?

 Understand the problem (5)

 Devise a plan (5)
 Carry out the plan (5)
 Review the solution (5)

47
 CHAPTER IV
STATISTICS (DATA MANAGEMENT)

TOPICS
1. Frequency Distribution Table
2. Measures of Central Tendency
3. Measures of Dispersion
4. Measures of Relative Position
5. Measures of Correlations

LEARNING OUTCOMES
At the end of the chapter, you should be able to:
 Use variety of statistical tools to process and manage numerical data.
 Use the methods of linear regression and correlation to predict the
value of a variable given certain conditions.
 Advocate the use of statistical data in making important decisions.

Introduction to Data Management

When data are collected, it needs to be organized in a fashion that will allow the
researcher to do analysis easily and correctly interpret the results. The array and the
frequency distribution table are two ways of helping us to characterize the data. The
frequency distribution table classifies the observed values into groups and the number
of items falling into each group is stated. Sometimes the user of statistics will find
frequency distributions already constructed in the publications to which he may refer;
sometimes he will construct his own frequency distribution by first considering the
appearance of the raw or unclassified data.

Raw data or unclassified data is the set of data in its original form. It has not
been organized in any manner and is recorded in the order observed.
Example: Days - to – maturity for 40 short- term investments

48
 70 64 99 55 64 89 87 65
62 38 67 70 60 69 78 39
75 36 71 51 99 68 95 86
57 53 47 50 55 81 80 89
51 36 63 66 85 79 83 70

The arrangement of the days- to-maturity for 40 short term investments is

random and we have omitted the names of the bank clients in order to save space.

Array is the arrangement of the observed values according to magnitude. It may

be in ascending or descending order.

Example: The table below shows an illustration of an array or sorted data. Data are
arranged in ascending order.

Suppose below is the Sorted Data (Array) of Population by Province in Region IV-
B MIMAROPA

Province Population (2015)

Marinduque 235,000
Romblon 293,000
Occidental Mindoro 487,000
Oriental Mindoro 844,000
Palawan 1,104,000

Frequency distribution table is a summarized table wherein the classes are

either distinct values or intervals with a frequency count.

The frequency distribution table can be in the form of single value grouping or
grouping by class interval. Single value grouping is a frequency of observed values
wherein classes are distinct values. The range of values is short and with unique values
occurring more than once. Grouping by class intervals is a frequency count of observed
values wherein the classes are intervals.

Example: To illustrate single value grouping, suppose we have data on the number of
children of 50 married students taking Bachelor of Science in Developmental
Communication.

0 0 1 2 2 2 3 3 4 4
0 0 1 2 2 3 3 3 4 4
0 1 1 2 2 3 3 3 4 4
0 1 1 2 2 3 3 3 4 5
0 1 1 2 2 3 3 3 4 5

49
 Suppose below is Single Value Grouping of Number of Children of Married
Students taking BS in Developmental Communication

Number of Children No. of Married Students %

0 7 14
1 8 16
2 11 22
3 14 28
4 8 16
5 2 4
Total 50 100

There are many ways to manage data. There are also other ways to a clearer, a
more elaborate, and more complex Frequency Distribution Table. From the raw data
that is not grouped yet, we arrange them in ascending or descending order to form an
array or we can create a table to make them easier to interpret or make use as basis for
decision making.

Topic 1: Frequency Distribution Table

Suppose we were the scores of 50 CAST students in their Final Exam for the
subject Mathematics in the Modern World.

87 83 71 79 83 76 83 91 66 90
76 100 87 83 94 85 75 79 77 83
98 80 88 78 80 88 83 86 68 90
89 95 86 81 84 73 74 78 92 82
93 83 75 77 82 89 83 84 72 91

Our task now is to create a Frequency Distribution Table with Column heads for
Class Limit, Class Boundary, Tally, Frequency, Cumulative Frequencies (> and <), and
lastly the Class Mark (X). Making a Frequency Distribution Table as detailed as this one
will make it very useful if we wish to do or utilize the other statistical tools for grouped
data. See below how our Frequency Distribution Table will look like:

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)

N = _______

50
 Before we proceed with the actual filling out or answering of the frequency
distribution table, we should follow some helpful steps.

Step 1 - Know your Population (denoted by N) or your Sample (denoted by n).

Population refers to the totality of the respondents or subjects while a sample is just a
part or a representative or an entity taken from a population. In our case, it was not
mentioned that the 50 students were part of a bigger group. Thus, we can assume that
it is our Population which is 50. N = 50.

NOTE: Before you proceed with Step 2, you can actually arrange the scores in
ascending or descending order to make an array.

Step 2 - Determine the Highest Score (HS). In our given set of data, HS = 100.

Step 3 - Determine the Lowest Score (HS). In our given set of data, LS = 66.

Step 4 - Compute the Range (R). Range = Highest Score (HS) minus Lowest Score (LS).
R = 100 - 66. R = 34.

Step 5 - Use the Sturge’s Formula (K) = 1 + 3.3 log N, where N is our Population. If the
given is the sample size, we just change N to n.

In our given data, our population is 50. Thus,

K = 1 + 3.3 log N
K = 1 + 3.3 log (50)
K = 1 + 3.3 (1.69897000434)
K = 1 + 5.60660101432
K = 6.60660101432 or K = 6.6066 or K ≈ 7 (approximately 7 classes)

Later we can also just use the 6.6066 (up to four decimal places). By therules of
rounding numbers, it is estimated to be 7, this means our table will most likely have 7
classes. Thus, we can prepare 7 rows (below the heads of the table).

Step 6 - Compute the Class Width (C). Class Width (C) = R ÷ K.

C = R ÷ K.
C = 34 ÷ 6.6066
C = 5.14636878273
or
C=5

NOTE: Class Width should always be rounded off to the nearest whole number.

Step 7 - Start Filling out the Frequency Distribution Table.

51
FILLING OUT OR ANSWERING THE FREQUENCY DISTRIBUTION TABLE

CLASS LIMIT
This column can be in ascending or descending order. But, most of the time statisticians
practice to start with the Lowest Score, thus, ascending order. In the table below, we started
with the Lowest Score which is 66. The Lower Class Limit (LCL) of the first class is 66 and by
using the Class Width which is 5, we can count off up to five numbers from 66…. So - 66, 67, 68,
69, 70. From here, we can determine the Upper Class Limit (UCL) of the same row - 70. On the
second class, we can start at 71 since the UCL of the first class is 70. Then we repeat the process
by counting five numbers from 71…. So - 71, 72, 73, 74, 75. Thus, we now determined that the
UCL of the second class is 75. We repeat this process until we reach the last class of this column.
The last class is identified if we already covered or reached the Highest Score of our
given set of data. In this case, we stop at the 7th Class (which we already predicted using the
Sturge’s Formula in Step 5) since the class interval 96 - 100 reached and covered the Highest
Score - 100.

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70
71 - 75
76 - 80
81 - 85
86 - 90
91 - 95
96 - 100
N = _______

CLASS BOUNDARY
Separate one class in a grouped frequency distribution from another. The boundaries
have one more decimal place than the raw data and therefore do not appear in the data. There
is no gap between the upper boundary of one class and the lower boundary of the next class.
The lower class boundary is found by subtracting 0.5 units from the lower class limit and the
upper class boundary is found by adding 0.5 units to the upper class limit.
Class Limit Class Boundary Frequency Class Mark
Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5
71 - 75 70.5 - 75.5
76 - 80 75.5 - 80.5
81 - 85 80.5 - 85.5
86 - 90 85.5 - 90.5
91 - 95 90.5 - 95.5
96 - 100 95.5 - 100.5
N = _______

52
TALLY
In tallying scores, we must be very careful and we must do it one by one. We
must use our raw data as reference. It would be easier if the scores were arranged
beforehand in ascending or descending order. We will tally the number of scores that
fall within each class.

87 83 71 79 83 76 83 91 66 90
76 100 87 83 94 85 75 79 77 83
98 80 88 78 80 88 83 86 68 90
89 95 86 81 84 73 74 78 92 82
93 83 75 77 82 89 83 84 72 91

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5 II
71 - 75 70.5 - 75.5 IIII - I
76 - 80 75.5 - 80.5 IIII - IIII
81 - 85 80.5 - 85.5 IIII - IIII - IIII
86 - 90 85.5 - 90.5 IIII - IIII
91 - 95 90.5 - 95.5 IIII - I
96 - 100 95.5 - 100.5 II
N = _______

FREQUENCY (f)
We simply convert the tally in to Hindi-Arabic Numbers. N should be equal to
the Population - if not - try rechecking you tallies.

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5 II 2
71 - 75 70.5 - 75.5 IIII - I 6
76 - 80 75.5 - 80.5 IIII - IIII 10
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14
86 - 90 85.5 - 90.5 IIII - IIII 10
91 - 95 90.5 - 95.5 IIII - I 6
96 - 100 95.5 - 100.5 II 2
N = 50

53
CUMMULATIVE FREQUENCY
Cumulative frequency is used to determine the number of observations that lie
above (or below) a particular value in a data set. The cumulative frequency is calculated
using a frequency distribution table, which can be constructed from stem and leaf plots
or directly from the data. For “ < cf ” - we start by copying the frequency of the first
class (66 - 70) which is 2. To answer what is below it, we must add frequency of the
next class to it. The process is repeated until the last class is reached.
Class Limit Class Boundary Frequency Class Mark
Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5 II 2 2
71 - 75 70.5 - 75.5 IIII - I 6 8
76 - 80 75.5 - 80.5 IIII - IIII 10 18
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32
86 - 90 85.5 - 90.5 IIII - IIII 10 42
91 - 95 90.5 - 95.5 IIII - I 6 48
96 - 100 95.5 - 100.5 II 2 50
N = 50
For “ > cf ” - we start by copying the frequency of the last class (96 - 100) which
is 2. To answer what is above it, we must add frequency of the next class to it. The
process is repeated until the first class is reached.
Class Limit Class Boundary Frequency Class Mark
Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5 II 2 2 50
71 - 75 70.5 - 75.5 IIII - I 6 8 48
76 - 80 75.5 - 80.5 IIII - IIII 10 18 42
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32 32
86 - 90 85.5 - 90.5 IIII - IIII 10 42 18
91 - 95 90.5 - 95.5 IIII - I 6 48 8
96 - 100 95.5 - 100.5 II 2 50 2
N = 50

CLASS MARK (X)

The Class Mark is simply the midpoint or the middle score or the median of
every class limit. For instance, the class mark of 66 - 70 (66, 67, 68, 69, 70) is 68.
Class Limit Class Boundary Frequency Class Mark
Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)
66 - 70 65.5 - 70.5 II 2 2 50 68
71 - 75 70.5 - 75.5 IIII - I 6 8 48 73
76 - 80 75.5 - 80.5 IIII - IIII 10 18 42 78
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32 32 83
86 - 90 85.5 - 90.5 IIII - IIII 10 42 18 88
91 - 95 90.5 - 95.5 IIII - I 6 48 8 93
96 - 100 95.5 - 100.5 II 2 50 2 98
N = 50

54
Topic 2: Measures of Central Tendency

An average is regarded as the most representative value of a given data. The

concentration of data values is viewed as greatest at the average. An average is also
called a measure of central tendency since the average tends to lie centrally in an array
of values. There are three most commonly used averages: the mean, the median and
the mode.
Among the three averages mentioned earlier, the most widely used central
measure of a distribution is the (arithmetic) mean.

The mean of a data set is the sum of the data values

divided by the number of data values.

The mean represents the “center of gravity.” That is, if the values in a list were
to be put on a dot scale, the mean acts as the balancing point where smaller
observations will “balance” the larger ones. A basic feature of the average or mean is
the ease in its calculation. All we need to do is add up all the values and divide their
sum by the number of values. Furthermore, all the data contribute equally in its
calculation. That is, the “weight” of each of the data items in the list is the reciprocal of
the number n of data, i.e. 1/n.
Using the mean has its disadvangages. Extreme Scores distorts the mean. Plus, it
is tedious to compute by hand.
The data given in below lists selected socio-economic data of 15 countries as of
2017.
Socio-economic characteristics of 15 countries. January 2017.
Country Calorie Intake Life expectancy
Japan 2956 80
Australia 3216 78
Canada 3482 78
Hong Kong 3144 78
Italy 3504 78
Switzerland 3562 78
France 3465 77
U.S.A 3671 77
Great Britain (U.K.) 3149 76
Germany 3522 76
New Zealand 3362 76
Singapore 3198 76
Brunei 2837 75
Taiwan 3036 75
Macau 2162 73
Total

55
 The mean or average calorie intake (per day) among the 15 countries is:
2956 + 3216 + … + 3036 + 2162
15

= 48266/15 = 3217.733 calories per day per country

Providing “equal weights” to the data in computing the mean may present
problems, particularly when some of the data are extreme, either extremely high or
extreme low. In such instances, the mean presents a distorted representation of the
average. For example, the mean of income data may not truly represent the center as
income data have a few extremely high values.

An average is a value that is intended to be in some sense typical of a whole

distribution. As was earlier pointed out, in some cases, the mean may not be a good
measure of the center. One alternative average is the median, the cut off where the
data are split evenly into lows and highs.
The median of a data set is the “middle observation” when the data set is sorted (in
either increasing or decreasing order). Note that when the size n is even, the median is the
average of the two middle scores.

In order to calculate the median, it is essential to firstly list the data into an
ordered or sorted array of numbers. The ordering or sorting may be a listing of the data
in either increasing or decreasing order. If there are no ties, half the observations will
be smaller than the median and the other half will be larger.

For this array: 1, 2, 2, 2, 3, the median (2) is less than or equal to half and
greater than or equal to the other half.

 x N  1 , if N is odd
 2

Md   x N  x N
 1
 2 2
, if N is even
 2

Just as in the case of the sample mean and the population mean, there is no
difference in the calculations for arriving at the sample median and population median.
The difference between a population median and a sample median is conceptual. When
the data pertain to a sample, the median is called the sample median, while if the data
pertain to an entire population, then the median calculated is the population median.
The sample median is denoted as ~ x and is computed in the same fashion as the
~
population median (denoted as  ), that is, we sort the data and find the middle value
(or average of the two middlemost items) in the ordered list. The sample median may
be viewed as an estimate of the population median.

56
Let’s try again!

This time we will use the data set that was given for the previous lesson. We will
try to find the measures of central tendency: mean, median, and mode with the
ungrouped and grouped data.
Mean of Ungrouped Data
87 83 71 79 83 76 83 91 66 90
76 100 87 83 94 85 75 79 77 83
98 80 88 78 80 88 83 86 68 90
89 95 86 81 84 73 74 78 92 82
93 83 75 77 82 89 83 84 72 91

We use the formula given:

( ‘mu’ for Populaion Mean and x ‘x-bar’ for Sample Mean )
=Σx/N
= (x1 + x2 + x3 + … + xn) / N
= (87 + 76 + 98 + … + 91) / 50
= 4150 / 50
= 83

Mean of Grouped Data

Class Class
Class Limit Frequency
Boundary Tally < cf > cf Mark fX
LCL– UCL (f)
LCB – UCB (X)
66 - 70 65.5 - 70.5 II 2 2 50 68 136
71 - 75 70.5 - 75.5 IIII - I 6 8 48 73 438
76 - 80 75.5 - 80.5 IIII - IIII 10 18 42 78 780
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32 32 83 1162
86 - 90 85.5 - 90.5 IIII - IIII 10 42 18 88 880
91 - 95 90.5 - 95.5 IIII - I 6 48 8 93 558
96 - 100 95.5 - 100.5 II 2 50 2 98 196
N = 50 Σ fX = 4150
We use the formula given:
( ‘mu’ for Populaion Mean and x ‘x-bar’ for Sample Mean )
= Σ fX / N
= 4150 / 50
= 83

57
Median of Ungrouped Data

87 83 71 79 83 76 83 91 66 90
76 100 87 83 94 85 75 79 77 83
98 80 88 78 80 88 83 86 68 90
89 95 86 81 84 73 74 78 92 82
93 83 75 77 82 89 83 84 72 91

First, we must arrange the scores in ascending or descending order. Then, simply
look for the middle score. If the population is even, we will have two scores in the
middle. in that case we will have to add the two middle scores and then divide the sum
by two. The result of that will be the Median (x or x-ilde).
The scores are arranged in ascending order as the arrow shows.
66 74 77 79 82 83 84 87 90 93
68 75 77 80 83 83 85 88 90 94
71 75 78 80 83 83 86 88 91 95
72 76 78 81 83 83 86 89 91 98
73 76 79 82 83 84 87 89 92 100

In our given set of data, we found 83 and 83 in the middle. From there, it is
already obvious that our median is 83.

Median of Grouped Data

Class Class
Class Limit Frequency
Boundary Tally < cf > cf Mark
LCL– UCL (f)
LCB – UCB (X)
66 - 70 65.5 - 70.5 II 2 2 50 68
71 - 75 70.5 - 75.5 IIII - I 6 8 48 73
76 - 80 75.5 - 80.5 IIII - IIII 10 18 42 78 Cfp
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32 32 83 Median Class
86 - 90 85.5 - 90.5 IIII - IIII 10 42 18 88
91 - 95 90.5 - 95.5 IIII - I 6 48 8 93
96 - 100 95.5 - 100.5 II 2 50 2 98
N = 50

We use the formula given:

X = Lb + C {΀(N/2) - Cfp] / f md}

58
Where:

X = median
Lb = lower boundary of the median class
Median class is the first class interval where N/2 is covered in <cf.
Cfp = the less than cumulative frequency of the class interval preceding the
median class
C = size of the median class
f md = frequency of the median class
N = Population

Thus…
N / 2 = 50 / 2 = 25 (meaning the 4th class is the median class)

X = Lb + C {΀(N/2) - Cfp] / f md}

X = 80.5 + 5 {΀(25) - 18] / 14}
X = 80.5 + 5 {΀7] / 14}
X = 80.5 + 5 {0.5}
X = 80.5 + 2.5
X = 83

Mode of Ungrouped Data

The Mode is simply the score or scores that occurs or occur the most.

87 83 71 79 83 76 83 91 66 90
76 100 87 83 94 85 75 79 77 83
98 80 88 78 80 88 83 86 68 90
89 95 86 81 84 73 74 78 92 82
93 83 75 77 82 89 83 84 72 91

In this case we only have one mode (which is obviously 83) and it means the
given set of data is unimodal. If it happened that there are two modes then it is
bimodal; trimodal if there are three modes; and polymodal if the are four or more
modes. There are also cases in which the is No Mode at all or none of the scores
appeared or occurred more than once.
Suppose we have an array: 1, 2, 2, 3, 3, 3, 4, 4, 5. Although, 2 and 4 were also
repeated, still, the score ‘3’ has the highest frequency. So, the mode is ‘3’ and it is
unimodal.

59
Mode of Grouped Data

Class Class
Class Limit Frequency
Boundary Tally < cf > cf Mark
LCL– UCL (f)
LCB – UCB (X)
66 - 70 65.5 - 70.5 II 2 2 50 68
71 - 75 70.5 - 75.5 IIII - I 6 8 48 73
76 - 80 75.5 - 80.5 IIII - IIII 10 18 42 78 d1 = 14 - 10 = 4
81 - 85 80.5 - 85.5 IIII - IIII - IIII 14 32 32 83 Modal Class
86 - 90 85.5 - 90.5 IIII - IIII 10 42 18 88 d2 = 14 - 10 = 4
91 - 95 90.5 - 95.5 IIII - I 6 48 8 93
96 - 100 95.5 - 100.5 II 2 50 2 98
N = 50

We use the formula given:

Mode = Lb + C ΀ d1 / ( d1 + d2 ) ]

Where:

Lb = lower boundary of the modal class

Modal class is the class interval with the highest frequency

d1 = the difference between the frequency of the modal class and the
frequency of the class interval before or lower than the modal class

d2 = the difference between the frequency of the modal class and the
frequency of the class interval after or higher than the modal class

C = size of the modal class

Thus…
Mode = Lb + C ΀ d1 / ( d1 + d2 ) ]
Mode = 80.5 + 5 ΀ 4 / ( 4 + 4 ) ]
Mode = 80.5 + 5 ΀ 4 / ( 8 ) ]
Mode = 80.5 + 5 ΀0.5 ]
Mode = 80.5 + 2.5
Mode = 83

60
Topic 3: Measures of Dispersion

Descriptive measures that are used to indicate the amount of variation in data
set are called measures of variability, dispersion, or spread. When descriptive statistics
are presented, there is usually at least one measure of central tendency and at least
one measure of variability reported.

THE RANGE

The range of data set is defined to be the difference between the highest and
lowest value in data set.

Range = Highest Value - Lowest Value

Characteristics of the Range

It is easy to compute and understand. It emphasizes the extreme values.

However, it is the most unstable or unreliable measure because its value easily changes
or fluctuates with the change in the extreme values.

Some Uses of the Range

The range is used to report the movement of stock process over a period of the
time and the weather reports typically state the high and low temperature readings for
a 24 - hour period.

Example: Find the range in set A and B.

Set A: 80, 86, 87, 90, 95

Set B: 83, 84, 85, 90, 92

Solution: Set A: Range = Highest Value - Lowest Value

= 95 - 80
= 15

Set B: Range = Highest Value - Lowest Value

= 92 - 83
=9
Based on the compute range for sets A and B, it can be concluded that A has greater
variability as compared to B.

61
THE MEAN DEVIATION

The mean deviation measures the average deviation of the values from the
arithmetic mean. It gives equal weight to the deviation of every observation.

Mean Deviation for Ungrouped Data (For a Sample)

M.D. = Σ |x - x| / n

Where: M.D. = mean deviation

x = a particular data
x = sample mean
n = total number of observations
|| = absolute value

Sample Problem:
Consider the hourly rate of the randomly selected employees in three different
business companies in San Jose, Occidental Mindoro.

Find the mean deviation of the data.

Company A: P190, 195, 200, 205, 210

Company B: P180, 190, 200, 210, 220
Company C: P160, 180, 200, 220, 240

Solution: Company A
x x- x |x - x|
190 -10 10
195 -5 5
200 0 0
205 5 5
210 10 10
Σ x = 1000 Σ |x - x| = 30

x=Σx/n
x = (x1 + x2 + x3 + … + xn) / n
x = (190 + 195 + 200 + 205 + 210) / 5
x = 1000 / 5
x = 200

M.D. = Σ |x - x| / n
M.D. = (10 + 5 + 0 + 5 + 10) / 5
M.D. = 30 / 5
M.D. = 6

62
 The mean deviation for these data of five items is 6. This would mean that on
the average, the values deviation from the mean values of 200 by 6.
Solution: Company B
x x- x |x - x|
180 -20 20
190 -10 10
200 0 0
210 10 10
220 20 20
Σ x = 1000 Σ |x - x| = 60
x=Σx/n
x = (x1 + x2 + x3 + … + xn) / n
x = (180 + 190 + 200 + 210 + 220) / 5
x = 1000 / 5
x = 200
M.D. = Σ |x - x| / n
M.D. = (20 + 10 + 0 + 10 + 20) / 5
M.D. = 60 / 5
M.D. = 12

Solution: Company C
x x- x |x - x|
160 -40 40
180 -20 20
200 0 0
220 20 20
240 40 40
Σ x = 1000 Σ |x - x| = 120
x=Σx/n
x = (x1 + x2 + x3 + … + xn) / n
x = (160 + 180 + 200 + 220 + 240) / 5
x = 1000 / 5
x = 200
M.D. = Σ |x - x| / n
M.D. = (40 + 20 + 0 + 20 + 40) / 5
M.D. = 120 / 5
M.D. = 24

Base on the compute mean deviation for companies A, B, and C, it can be

concluded that C has the greater variability as compared to A or B from the mean.

63
Mean Deviation for Grouped Data (For a Sample)

Formula:

M.D. = Σ f|X - x|
n

Where: M.D. = mean deviation

X = midpoint or class mark of a class
x = mean of the sample observations
n = total number of sample observations
|| = absolute value

Let us use the grouped data of the scores of students in an exam that we
organized beforehand in the previous lessons and consider it as a sample (not a
population anymore). We knew already that its mean is 83.

Frequency Class Mark

Score X- x |X - x| f|X - x|
(f) (X)
66 - 70 2 68 -15 15 30
71 - 75 6 73 -10 10 60
76 - 80 10 78 5 5 50
81 - 85 14 83 0 0 0
86 - 90 10 88 5 5 50
91 - 95 6 93 10 10 60
96 - 100 2 98 15 15 30
Total n = 50 Σ f|X - x|= 280

M.D. = Σ f|X - x| / n
M.D. = (30+60+50+0+50+60+30) / 5
M.D. = 280 / 50
M.D. = 5.6

The mean deviation for these set of data is 5.6. This would mean that on the
average, the values deviation from the mean values of 83 by 5.6.

64
STANDARD DEVIATION AND VARIANCE

The variance of a population is equal to the sum of the squared deviations

about the mean divided by the number of scores. The standard deviation is equal to
the square root of the variance. They are used when the mean is the preferred measure
of central tendency. They show whether or not the scores are grouped closely around
the mean of the distribution. The symbols for sample and population variances are s2
and σ2, respectively. Variance is frequently discussed by researcher as an indicator of
how much variability there is in an entire distribution of scores. The standard deviation
is used to determine how far the data are from the mean.
If the value are clustered tightly about their mean, the standard deviation is
small and if the value become more scattered about their mean, the standard deviation
for these sets is large.

Some Characteristics of the Standard Deviation

It is the most important and useful measure of dispersion. It is widely used in

research and is used in drawing inferences from samples to population. It cannot be
computed from an open-end distribution because of the absence of additional
information.

Computation of Variance and Standard Deviation for Ungrouped Data

Before we can compute the standard deviation, we must determine if our data
set represents a population or a sample. We must know this fact so that correct
formula can be used.
The formulas are similar, however, a denominator of n - 1 is used to compute
the sample standard deviation and denominator of N for population standard deviation.
Since the sample standard deviation is often used to estimate the value of an unknown
population standard deviation, the use of n - 1 produces better estimates.
The variance of a population (σ2) and population standard deviation (σ) for
ungrouped data can be computed from the formula:

Variance of a Population (Ungrouped Data)

σ2 = Σ (x - )2
N

Standard Deviation of a Population (Ungrouped Data)

σ= Σ (x - )2
N

65
Where σ2 = variance of a population
σ = population standard deviation
x = values observations in the population
= population mean
N = total number of observations in the population

The sample variance (s2) and sample standard deviation (s) for ungrouped data
can be computed from the formula.

Variance of a Sample (Ungrouped Data)

s2 = Σ (x - x)2
n-1

Standard Deviation of a Sample (Ungrouped Data)

s= Σ (x - x)2
n-1

Where s2 = variance of a sample

s = sample standard deviation
x = values observations in the sample
x = sample mean
n = total number of observations in the sample

For instance:
Let us use the data of Company B in our previous lesson in Mean Deviation. Since the
given data is a sample and the data were ungrouped, we will use the formula for sample
variance and sample standard deviation for ungrouped data.

x x- x (x - x)2
180 -20 400
190 -10 100
200 0 0
210 10 100
220 20 400
Σ x = 1000 Σ (x - x)2 = 1000

Variance of a Sample (Ungrouped Data)

s2 = Σ (x - x)2 / n - 1 → = 1000 / (5 - 1) → = 1000 / (4) → s2 = 250

Standard Deviation of a Sample (Ungrouped Data)

s= Σ (x - x)2 / n - 1 → 1000 / (5 - 1) → 250 → s = 15.81

66
Variance and Standard Deviation for Grouped Data
Computing for the Variance and Standard Deviation from a frequency
distribution is somehow similar to the ungrouped data. The noticeable difference is the
presence of frequencies and class marks instead of individual scores.

Variance of a Population (Grouped Data)

σ2 = Σ f (X - )2
N

Standard Deviation of a Population (Grouped Data)

σ= Σ f (x - )2
N

Where σ2 = variance of a population

σ = population standard deviation
X = Class Mark
= population mean
f = frequency
N = total number of observations in the population

Variance of a Sample (Grouped Data)

s2 = Σ f (X - x)2
n-1

Standard Deviation of a Sample (Grouped Data)

s= Σ f (X - x)2
n-1

Where s2 = variance of a sample

s = sample standard deviation
f = frequency
X = class mark
x = sample mean
n = total number of observations in the sample

67
 Let us use again the grouped data of the scores of students in an exam that we
organized beforehand in the previous lessons and also consider it as a sample (not a
population anymore). We knew already that its mean is 83.

Frequency Class Mark

Score X- x (X - x)2 f (X - x)2
(f) (X)
66 - 70 2 68 -15 225 450
71 - 75 6 73 -10 100 600
76 - 80 10 78 5 25 250
81 - 85 14 83 0 0 0
86 - 90 10 88 5 25 250
91 - 95 6 93 10 100 600
96 - 100 2 98 15 225 450
Total n = 50 Σ f|X - x|= 2600

Variance of a Sample (Grouped Data)

s2 = Σ f (X - x)2 / n - 1 → = 2600 / (50 - 1) → = 2600 / (49) → s2 = 53.06

Standard Deviation of a Sample (Grouped Data)

s= Σ f (X - x)2 / n - 1 → 2600 / (50 - 1) → 53.06122… → s = 7.28

With a variance of 53.06, the standard deviation is 7.28. The whole data set can
be can be interpreted that the scores of the students are between 104.84 and 61.16.

68
Topic 4: Measures of Relative Position

The Quantiles
The quantiles are a natural extension of the idea of median in that they are
values which divide a set of data into equal parts.
While the median (same position with Q2 or D5 or P50) divides the distribution
into two parts, the quantiles divide it into four, or ten, or one hundred equal parts. The
quantiles that divide the distribution into four equal parts are called quartiles. These
values are denoted by Q1, Q2, and Q3. Twenty-five percent fall below the first quartile
(Q1), 50% are below the second quartile (Q2), and 75% are less than the third quartile
(Q3). Those which divide the distribution into ten part are called deciles. The data set
has nine deciles which are denoted by D1, D2, …,D9,. Those which divide the distribution
into 100 equal parts are called percentiles. A set of data has 99 percentiles which are
denoted by P1,P2…,P99.

Let us try this!

Suppose the scores below are the scores of students in an entrance exam. We
will try to know which scores are positioned in certain quartiles, deciles, and percentiles.

78 99 56 71 79 32 13
11 67 4 83 43 46 9
95 55 17 54 64 27 21

First, we have to arrange the scores in ascending order (least to greatest) or

descending order (greatest to least), which ever you find necessary, like they are to be
ranked. Since they are scores in an exam, the higher the score means the higher
position or quantile it should be in. Data Managers tend to arrange the scores or data in
terms of magnitude or into an array. Perhaps, it is because the counting of positions
should always start with the Lowest Score or at the bottom position.

9, 11, 13, 17, 21, 27, 32, 43, 46, 54, 55, 56, 64, 67, 71, 78, 79, 83, 95, 99

Which of the scores is positioned at the First Quartile (Q1)?

We can use the formula:

Qn = (k)n + (1 - k)th
4 4

Q1 = (1/4) 21 + (1 - 1/4)th
Q1 = (21/4) + (4/4 - 1/4)th
Q1 = (21/4) + (3/4)th
Q1 = (24/4)th
Q1 = 6th Score

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 9, 11, 13, 17, 21, 27, 32, 43, 46, 54, 55, 56, 64, 67, 71, 78, 79, 83, 95, 99
The answer is 27. Since the score ‘27’ is positioned at the 1st Quartile
(Q1), this also means that 25% of the entrance exam takers scored lower than
the student who got score ‘27’ and the remaining 75% got higher score than
‘27’.

Which of the scores is positioned at the Second Decile (D2)?

We can use the formula:

Dn = (k)n + (1 - k)th
10 10

D2 = (2/10)21 + (1 - 2/10)th
D2 = (42/10) + (10/10 - 2/10)th
D2 = (42/10) + (8/10)th
D2 = (50/10)th
D2 = 5th Score
9, 11, 13, 17, 21, 27, 32, 43, 46, 54, 55, 56, 64, 67, 71, 78, 79, 83, 95, 99

The answer is 21. Since the score ‘21’ is positioned at the 2nd Decile (D2),
this also means that 20% of the entrance exam takers scored lower than the
student who got score ‘21’ and the remaining 80% got higher score than ‘21’.

Which of the scores is positioned at the 90th Percentile (P90)?

We can use the formula:

Pn = (k)n + (1 - k)th
100 100

P90 = (90/100)21 + (1 - 90/100)th

P90 = (1890/100) + (100/100 - 90/100)th
P90 = (1890/100) + (10/100)th
P90 = (1900/100)th
P90 = 19th Score

9, 11, 13, 17, 21, 27, 32, 43, 46, 54, 55, 56, 64, 67, 71, 78, 79, 83, 95, 99

The answer is 83. Since the score ‘83’ is positioned at the 90th Decile
(P90), this also means that 90% of the entrance exam takers scored lower than
the student who got score ‘83’ and the remaining 10% got higher score than
‘83’.

70
 Topic 5: Measures of Correlation
Correlation is a bivariate analysis that measures the strength of association
between two variables and the direction of the relationship. In terms of the strength of
relationship, the value of the correlation coefficient varies between +1 and -1. A value
of ± 1 indicates a perfect degree of association between the two variables. As the
correlation coefficient value goes towards 0, the relationship between the two variables
will be weaker. The direction of the relationship is indicated by the sign of the
coefficient; a + sign indicates a positive relationship and a – sign indicates a negative
relationship. Usually, in statistics, we measure four types of correlations: Pearson
correlation, Kendall rank correlation, Spearman correlation, and the Point-Biserial
correlation. In this topic, we will learn of the Pearson r Moment of Correlation.

Pearson r correlation is the most widely used correlation statistic to measure

the degree of the relationship between linearly related variables. For example, in the
stock market, if we want to measure how two stocks are related to each other,
Pearson r correlation is used to measure the degree of relationship between the two.
The point-biserial correlation is conducted with the Pearson correlation formula except
that one of the variables is dichotomous. The following formula is used to calculate the
Pearson r correlation:

rxy = Pearson r correlation coefficient between x and y

n = number of observations
xi = value of x (for ith observation)
yi = value of y (for ith observation)

Correlation Analysis

Degrees of correlation between two variables may be classified into five general
categories.

1) Perfect Positive Correlation

2) Some Positive Correlation
3) No Correlation at all
4) Some Negative Correlation
5) Perfect Negative Correlation

Source: https://towardsdatascience.com/eveything-you-need-to-know-about-interpreting-correlations-2c485841c0b8

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Interpretation of r

As guide to the interpretation of the correlation coefficient , specific ranges of r

correspond to various interpretations. Interpretation of the degree of correlation may
differ depending on the author or source. But for our lesson, we will use the table
below:

Value of r Interpretation

1.00 Perfectly Positive Correlation

0.80 - 0.99 Strongly Positive Correlation

0.50 - 0.79 Moderately Positive Correlation

0.20 - 0.49 Weakly Positive Correlation

0.01 - 0.19 Negligible Positive Correlation

0.00 No Correlation

-0.01 - -0.19 Negligible Negative Correlation

-0.20 - -0.49 Weakly Negative Correlation

-0.50 - -0.79 Moderately Negative Correlation

-0.80 - -0.99 Strongly Negative Correlation

-1.00 Perfectly Negative Correlation

Source: https://www.researchgate.net/figure/Meaning-of-Pearson-correlation-coefficient-value-r_tbl1_299402589

72
Let us try this!

The time spent of an employee spent at a company and the employees’ hourly
pay , y , for 5 employees are listed in the table below. Let us try to calculate and
interpret the correlation coefficient r. We will also try to include a plot in our discussion.
(Pearson r Moment of Correlation)

x y x2 y2 xy

5 25 25 625 125
3 20 9 400 60
4 21 16 441 84
10 35 100 1225 350
15 38 225 1444 570
Σ x = 37 Σ y = 139 Σ x2 = 375 Σ y2 = 4135 Σ xy= 1189

We use this recommended formula:

r = [(n) (Σ xy) - (Σ x) (Σ y) ] ÷ {[√[(n)(Σ x2) - (Σ x)2] * [√[(n)(Σ y2) - (Σ y)2]}

r = ΀(5) (1189) - (37) (139) ] ÷ {√[(5)(375) - (37)2] * √[(5)(4135) - (139)2]}
r = ΀(5945) - (5143) ] ÷ {√[(1875) - (1369)] * √[(20675) - (19321)]}
r = ΀802 ] ÷ {√[506] * √[1354]}
r = ΀802 ] ÷ {΀22.4944437584] ΀36.7967389859]}
r = ΀802 ] ÷ {827.722175611}
r = 0.96892414343
r ≈ 0.97

With a value of r = 0.97, it means that the two variables are having a Strongly
Positive correlation. It can be interpreted that the time spent of an employee spent at a
company has a strongly positive correlation with the employee’s hourly pay.

73
 Try it yourself!

I. FREQUENCY DISTRIBUTION TABLE

Given the sample scores of 50 OMSC - CAST students in a 100-item examination in their
mathematics subject, c onstruct a Frequency Distribution Table using the steps (as guide)
indicated in our previous lessons.

81 94 85 86 68 89 95 86 90 75
78 83 76 79 77 98 80 88 83 83
79 84 73 84 72 87 83 71 91 74
77 80 88 78 92 93 83 75 82 83
83 82 89 91 66 76 100 87 90 83

Step 1 - Determine the Sample Size (denoted by n).

Step 2 - Determine the Highest Score (HS).

Step 3 - Determine the Lowest Score (HS).

Step 4 - Compute the Range (R).

Step 5 - Use the Sturge’s Formula (K) = 1 + 3.3 log n.

Step 6 - Compute the Class Width (C).

NOTE: Class Width should always be rounded off to the nearest whole number.

74
Step 7 - Start Filling our or answering the Frequency Distribution Table.

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)

N = _______

II. MEASURES OF CENTRAL TENDENCY

A. Ungrouped Data (Show complete solution.)
Given the sample scores of 50 OMSC - CAST students in a 100-item examination in their
mathematics subject.

81 94 85 86 68 89 95 86 90 75
78 83 76 79 77 98 80 88 83 83
79 84 73 84 72 87 83 71 91 74
77 80 88 78 92 93 83 75 82 83
83 82 89 91 66 76 100 87 90 83

1. Determine/Compute for the Mean of the ungrouped data above.

2. Determine/Compute for the Median of the ungrouped data above.
3. Determine/Compute for the Mode of the ungrouped data above.

75
B. Grouped Data (Show complete solution.)
Using the Frequency Distribution Table you created in Page 78,

Class Limit Class Boundary Frequency Class Mark

Tally < cf > cf
LCL– UCL LCB – UCB (f) (X)

N = _______

1. Determine/Compute for the Mean of the grouped data.

2. Determine/Compute for the Median of the grouped data.
3. Determine/Compute for the Mode of the grouped data.

76
III. MEASURES OF DISPERSION
A.1 Mean Deviation (Ungrouped Data)
Consider the hourly rate of the randomly selected employees in three different
schools in San Jose, Occidental Mindoro.

Find the mean deviation of the data.

School A: P290, 295, 300, 305, 310

School B: P280, 290, 300, 310, 320
School C: P300, 300, 300, 300, 300

School A
x x- x |x - x|

Σ x = 1000 Σ |x - x| = 30

77
School B
x x- x |x - x|

Σ x = 1000 Σ |x - x| = 60

School C
x x- x |x - x|

Σ x = 1000 Σ |x - x| = 120

78
A.2 Mean Deviation (Grouped Data)
Let us use the grouped data of the scores of students in an exam that we
organized beforehand in Page 78. However we will only need the Class Limits,
Frequency, and Class Mark for our first three columns. You knew already what its mean
is based from your answer in item #4 in Page 80.

Frequency Class Mark

Score X- x |X - x| f|X - x|
(f) (X)
66 - 70 2 68
71 - 75 6 73
76 - 80 10 78
81 - 85 14 83
86 - 90 10 88
91 - 95 6 93
96 - 100 2 98
Total n = 50 Σ f|X - x|= 280

Compute for the mean deviation of the given grouped data. (Show complete solution)

79
B.1 Standard Deviation and Variance (Ungrouped Data)
Let us use the data of School A in our previous task in Page 81.

School A: P290, 295, 300, 305, 310

x x- x (x - x)2

Σ x = 1000 Σ (x - x)2 = 1000

1. Compute for the Variance of the given ungrouped data from School A. (Show
complete solution)

2. Compute for the Standard Deviation of the given ungrouped data from School A.
(Show complete solution)

80
B.2 Standard Deviation and Variance (Grouped Data)
Let us use the grouped data of the scores of students in an exam that we
organized beforehand in Page 78. However we will only need the Class Limits,
Frequency, and Class Mark for our first three columns. You knew already what its mean
is based from your answer in item #4 in Page 80.

Frequency Class Mark

Score X- x (X - x)2 f (X - x)2
(f) (X)
66 - 70 2 68 -15 225 450
71 - 75 6 73 -10 100 600
76 - 80 10 78 5 25 250
81 - 85 14 83 0 0 0
86 - 90 10 88 5 25 250
91 - 95 6 93 10 100 600
96 - 100 2 98 15 225 450
Total n = 50 Σ f|X - x|= 2600

3. Compute for the Variance of the given grouped data above. (Show complete solution)

4. Compute for the Standard Deviation of the given grouped data above. (Show
complete solution)

81
IV. MEASURES OF RELATIVE POSITION
Suppose the scores below are the scores of students in an entrance exam.

53 63 94 54 16 26 20

82 42 10 66 3 45 8

70 78 77 98 55 31 12

Determine which score is positioned in the following quantiles:

Sample => if computed, D5 = 11th SCORE or 53
(But you still need to show complete solution for your answers)

1. Q3 =

2. Q1 =

3. D3 =

4. D7 =

5. D9 =

6. P10 =

7. P30 =

8. P50 =

9. P90 =

10. P75 =

82
V. MEASURES OF CORRELATION

A. Pearson r Moment of Correlation

Suppose the given data below are the grades of twelve BSIT students and we
want to find out if a relationship exist between their grades in ‘Mathematics in the
Modern World’ (X) and their grades in ‘Discrete Mathematics’ (Y).

student X Y XY X2 Y2
1 89 92
2 92 93
3 89 92
4 93 93
5 90 92
6 90 90
7 91 92
8 92 88
9 91 93
10 93 92
11 95 94
12 86 88
Σ x = 37 Σ y = 139 Σ x2 = 375 Σ y2 = 4135 Σ xy= 1189

Compute for the value of Pearson r and determine if there exist a relationship
between X and Y. (Show complete solution.)

83
 CHAPTER V
Mathematics of Finance

TOPICS
1. Simple Interest
2. Compound Interest
______________________________________________________________
LEARNING OUTCOMES
At the end of the chapter, you should be able to:
 Use Mathematical concepts and tools in other areas such as in finance,
voting, logic, business, networks, and systems.
 Support the use of mathematics in various aspects and endeavors in
life.

Topic 1: Simple Interest

When people deposit money in a bank, they are permitting the bank to use their
money and the bank may lend the deposited money to customers to buy cars or make
renovations on their homes. The bank pays the depositors for the privilege of using
their money. The amount paid to you is called interest. If people are the ones
borrowing money from a bank, the amount they pay for the privilege of using that
money is also called interest.

The person who borrows money for any purpose is a debtor or maker, and the
person or institution, which loans the money, is the lender.

The amount deposited in a bank or borrowed from a bank is called the principal.
The amount of interest paid is usually given as a percent of the principal. The percent
used to determine the amount of interest is called the interest rate.

Interest refers to the payment for the use of the money. There are three
important factors to determine the interest earned on a deposit or the charges against
a loan. These are the following:

84
 1. The rate of interest which is given by the bank or charge by the lender (r)
2. The length or duration of time for which money is borrowers or deposited (t)
3. The total sum of money borrowed or deposited which is called the principal (P)

The total sum at the end of the transaction period when the money is deposited
or borrowed is referred to as a amount.
The amount is equal to the sum of the principal and the interest earned. This is
represented using symbols.

F= P+I
where:
F is the Future Value
P is the principal
I is the interest

Simple interest is defined as the interest on deposit or loan, which is computed

for the full term of the loan. The simple interest I is computed by multiplying the
principal (P) by the rate of interest (r) and the length or duration of time (t) of the
deposit or loan, the formula is

I = Prt

All simple interest rates are annual rates. Thus, the term of the loan should
always be expressed in terms of years.
Other formulas can be derived from the formula simple interest (I).

P= I r= I t = I_
Rt Pt Pr

Final Amount Formula: F=P+I

Other formulas that can be derived from the formula of Final Amount (F)

P=F-I F = P (1+rt)

I=F–P P = Fj
(1 + rt)

85
Example 1: Find the interest and final amount on P30,000.00 for 3 years at 7%.

Given: P = P30,000.00 r = 7% t = 3 yrs

Solution: I = Prt F=P+I

= P30,000.00 x .07 x 3 = P30,000.00 + P6,300.00
= P6,300.00 F = P36,300.00

Example 2: Mr. Quiton borrows P20,000.00 from a bank charging 13% simple
interest with the agreement that he would pay the principal and the
interest at the end of the term. If he paid P33,000.00 at the end of the
term, for how long did he use the money?

Given: P = P20,000.00 r = 13% F = P33,000.00

Solution:
I=F+P b.) t= Ij
= P33,000.00 – P20,000.00 Pr
= P13,000.00 = P13,000.00
P20,000 (.13)
= P33,000.00
P2,600.00
t= 5 years

Example 3: Mr. Quiton invested P20,000.00 in a cooperative where the interest was
P13,000.00 after 5 years. What is the interest rate of his investment?

Given: P = P20,000.00 I = P13,000.00 t = 5 years

Solution: r = I__j
Pt
= P13,000.00
P20, 000 (5)
= P13,000.00j
P100,000.00
= 0.13
r = 13 % (converted to percent)

86
Test Yourself!
Direction: From the given problem determine the unknown. Show your complete
solution.

1. Find the missing value:

a. P = P50, 500 r=4½% t = 3 yrs I =?
b. I = P4,230 r=7¾% t = 3 yrs P =?
c. P = P6, 950 I = P785 r = 7 3/8 % t =?
d. P =P5, 630 I = P1, 578 t = 2 yrs & 7 mos. r =?
e. P = P63, 140 r=9½% t = 8 yrs & 10 mos. F =?

2. Reymark agreed to pay P24,000.00 interest for his loan which amounts to
P160,000 at the end of 18 months. What was the rate of the interest?

3. For a bank loan payable in two and half years at 11% per annum, Mrs.
Roldan paid an interest of P17,250.00. How much was the original loan?

4. How much money is due at the end of 5 years and 8 months if P38, 000 is
deposited in cooperative that pays 14% per annum?

5. Compute for the simple interest and the amount on a P40,000.00 salary loan
at 12 1/5% simple interest for 150 days.

6. Mac agreed to pay P40,000.00 for his loan which amounts to P60,000.00 at
the end of 2 ½ years, what was the rate of the interest?

7. How long will it for P19,000.00 to earn P3,800.00 if it is invested at 7 ½%

simple interest?

8. If Bong paid P29,600 interest for the money borrowed which is P148, 000 for
4 years at what simple interest rate was money borrowed?

9. Amie lends P55, 000 at 5 3/8 % simple interest. How long had it been lent if
it earned P4,100 interests?

10. Mr. Laurence deposited P7, 500 with 18% simple interest in saving banks.
When he decided to close his account, his money grew P17,280.00.
Assuming that no withdrawals were made, how long did he deposit his
money?

87
 Topic 2: Compound Interest
Simple interest is generally used for loans of 1 year or less. In business
transactions covering an extended period of time, interest may earn on top of interest.
This is called Compound Interest. For loans of more than 1 year, nowadays, the interest
paid on the money borrowed is most likely a compound interest.

Compound interest is interest calculated not only on the original principal, but
also on any interest that has already been earned. It is also the interest resulting from
the periodic addition of simple interest to the principal. When interest is periodically
added to the principal and this new sum is used as the new principal for a certain
number of periods, the resulting value is called compound amount and is designated by
F. The frequency with which the interest is compounded is called the compounding
period.

In compound interest the time between successive interest computation is

called compounding or conversion period. The number of conversion periods for one
year is donated by m, while the total number of conversion periods for the whole
investment term is donated by n. Conversion periods is usually expressed by any
convenient length of time, and usually taken as an exact division of the year, such as
monthly, quarterly, semi- annually and annually. When the conversion period is:

Annually m=1
Semi- annually m=2
Quarterly m=4
Monthly m = 12

The total number of conversion periods for the whole term can be found from
the relation:

n = term x number of conversion periods per year (m)

n = tm or n = mt

The interest rate J is usually expressed or yearly rate, and must be changed to
the interest rate per conversion period rate i and can be found from the relation:

i = interest rate (r) j

conversion period (m)
i = r/m

Note: When no conversion period is stated in any investment problem, it is

assumed that the investment is compounded annually.

88
 The fundamental formula for compound amount is:
FnP 1 +i n
where:
F = compound amount
P = original principal
i = interest rate per period (i = r/m)
n = total number of conversion period for the whole term

Example 1. Find the compound amount and interest on P100,000.00 for 3 years at
10% compounded annually.

Given: P = P100,000.00 r = 10% t = 3 years m=1

i = r/m i = .10/1 = .10 n = 1 (3) = 3 periods n = tm
Solution:
FnP 1 +i n
3
= P100,000.00 1 + i 10
= P100,000.00 (1.10)³
=P100,000.00 (1.331)
F =P133,100.00

I=F–P
=P133,100.00 – P100,000.00
I =P33,100.00

Example 2. Find the compound interest on P30,000.00 at the end of 3 years at 12%
compounded monthly.

Given: P = P30,000.00 r = 12% m = 12 t = 3 years

i = r/m i = .12/12 = .01 n = 3 (12) = 36 periods n = tm
Solution:
FnP 1 +i n
= P30,000.00 (1 + 0.01)36
= P30,000.00 (1.01)36
= P30,000.00 (1.4307687835915805042604675701926)
= P42,923.06

I=F–P
=P42,923.06 – P30,000.00
I =P12,923.06

89
Test Yourself!

Direction: Solve each of the following completely. Show complete solution.

1. Find the value of the following:

25
a.) 1 + 1 3/4 %

30
b.) 1 0225

12
c.) 1 005833

40
d.) 1 + 1 3 / 8%

2
e.) 1 + 5%

2. What is the compound amount if P55,000.00 is invested for 5 years at 12%

compounded quarterly?

3. Accumulate P50,00.00 for 3 years at 12% compounded semi- annually.

4. Mrs. Usita borrowed P1,000,000.00 from a cooperative for 8 years and 7

months. If the cooperative charged an interest rate at 24% compounded
monthly, how much will she repay at the end of the term?

5. What amount of money will be required to repay a loan of P30, 000 on June
1, 2008. If the loan was made on September 1, 2001 at the interest rate of
14% compounded quarterly.

90
REFERENCES

Altares, P. et. al. (2007). Mathematics of Investment. REX Book Store, 856 Nicanor
Reyes, Sr. St., Manila, Philippines.

Ballada, S. & Ballada, W. (2003). Investment Mathematics. Second Edition. Domdane

Publishers & Made Easy Bookstore.

Capitulo, F.M & Cruz, C.U (1998). Mathematics of Investment (A Simplified Approach).
National Book Store, 125 Pioneer St., Mandaluyong City.

Capitulo, F.M (2006). Mathematics of Investment (A Simplified Approach). National

Book Store, 125 Pioneer Street Mandaluyong City 1550.

Dodd, E. (2014). Fundamentals in the Mathematics of Investment. Retrieved from

http://verso.mat.uam.es/~pablo.fernandez/dodd-fundamentals.pdf

Focardi, S. (2006). The Mathematics of Financial Modeling and Investment

Management. Retrieved from https://www.pdfdrive.com/the-mathematics-of-
financial-modeling-and-investment-management-d23545854.html

Gabasa, Michelle G. (2013). Enhancement Material in Elementary Statistics. Occidental

Mindoro State College. pp 1-82.

Aufmann, R. et al. (2018). Mathematics in the Modern World - Philippine Edition. Rex
Bookstore, Inc. pp 1-162.

Niesen, J. (2012). Financial Mathematics I. Retrieved from

http://www1.maths.leeds.ac.uk/~jitse/math1510/notes-all.pdf

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