CHAPTER 4

Practical Math for Managers

There are things which seem incredible to most men who have not studied Mathematics.

— Archimedes

This chapter is designed for two types of readers. For those of you who want to get down and do some computations, who like equations and want to see detailed technical explanations, and who do not trust “black box” explanations, this chapter is for you. If you are one of those people for whom mathematics is not your inclination, please read on—but skip the math. Everything in this chapter is explained conceptually and mathematically. The mathematics is for those who want to do the calculations. The concepts are for everyone.

On the other hand, if you are looking for a detailed explanation of the mathematics ...

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