In this chapter, we will explore the mathematics behind situations involving probabilities and counting. We will take an in-depth look at annuities. We will also look at the branch of mathematics that would allow us to calculate the number of ways to choose lottery numbers and the probability of winning.
- 9.1: Sequences and Their Notations
- One way to describe an ordered list of numbers is as a sequence. A sequence is a function whose domain is a subset of the counting numbers. Listing all of the terms for a sequence can be cumbersome. For example, finding the number of hits on the website at the end of the month would require listing out as many as 31 terms. A more efficient way to determine a specific term is by writing a formula to define the sequence.
- 9.2: Arithmetic Sequences
- In this section, we will consider specific kinds of sequences that will allow us to calculate depreciation. For example, companies often make large purchases, such as computers and vehicles, for business use. The book-value of these supplies decreases each year for tax purposes. This decrease in value is called depreciation. One method of calculating depreciation is straight-line depreciation, in which the value of the asset decreases by the same amount each year.
- 9.3: Geometric Sequences
- A geometric sequence is one in which any term divided by the previous term is a constant. This constant is called the common ratio of the sequence. The common ratio can be found by dividing any term in the sequence by the previous term.
- 9.4: Binomial Theorem
- A polynomial with two terms is called a binomial. We have already learned to multiply binomials and to raise binomials to powers, but raising a binomial to a high power can be tedious and time-consuming. In this section, we will discuss a shortcut that will allow us to find \((x+y)^n\) without multiplying the binomial by itself \(n\) times.