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    Financial Mathematics 101 - Week 1: Lecture 2: 1 Types of Lines

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    1. There are three possible outcomes when solving a system of linear equations: a unique solution, no solution, or infinitely many solutions. 2. The two primary methods for solving systems of linear equations are graphical and algebraic methods. The algebraic method uses substitution or elimination techniques. 3. Substitution involves making one variable the subject of one equation and substituting it into the other equations. Elimination involves manipulating the equations to remove a variable.

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    Financial Mathematics 101 - Week 1: Lecture 2: 1 Types of Lines

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    Kristel Andrea
    40 views6 pages
    1. There are three possible outcomes when solving a system of linear equations: a unique solution, no solution, or infinitely many solutions. 2. The two primary methods for solving systems of linear equations are graphical and algebraic methods. The algebraic method uses substitution or elimination techniques. 3. Substitution involves making one variable the subject of one equation and substituting it into the other equations. Elimination involves manipulating the equations to remove a variable.

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    Week 1 Lecture 2

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    1. There are three possible outcomes when solving a system of linear equations: a unique solution, no solution, or infinitely many solutions. 2. The two primary methods for solving systems of linear equations are graphical and algebraic methods. The algebraic method uses substitution or elimination techniques. 3. Substitution involves making one variable the subject of one equation and substituting it into the other equations. Elimination involves manipulating the equations to remove a variable.

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    40 views6 pages

    Financial Mathematics 101 - Week 1: Lecture 2: 1 Types of Lines

    Uploaded by

    Kristel Andrea
    1. There are three possible outcomes when solving a system of linear equations: a unique solution, no solution, or infinitely many solutions. 2. The two primary methods for solving systems of linear equations are graphical and algebraic methods. The algebraic method uses substitution or elimination techniques. 3. Substitution involves making one variable the subject of one equation and substituting it into the other equations. Elimination involves manipulating the equations to remove a variable.

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    Financial Mathematics 101 - Week 1: Lecture 2

    March 2, 2021

    1 Types of lines
    Parallel lines - have same magnitude (or slope) but dierent y-intercept. Hence
    two lines with equations y = m1 x + A and y = m2 x + B are parallel if m1 = m2 .
    Perpendicular lines - two lines are perpendicular if m1 × m2 = −1 where m1 and
    m2 are the slopes of each line.

    Example 1: Find the equation of a line parallel to the line 2x −


    y + 3 = 0, and passing through (3, −2).
    Solution: We know that for two lines to be parallel, their slopes should be
    same, and they dier in terms of y-intercept. We have to identify two equations.
    One equation is given:2x − y + 3 = 0. What is the slope of this equation?
    2x − y + 3 = 0. ⇒ y = 2x + 3,hence the some is m1 = 2.

    Another line passes through (x, y) = (3, −2),and this line is parallel to the
    rst line, 2x − y + 3 = 0, then slope should be same. So the slope of the sec-
    ond line is m2 = 2 = m1 . Now, we can form the equation of the second line.
    Recall: the general form is: y = m2 x + C. We have y = 2x + C,and consider-
    ing the points (3, −2),we have: −2 = 2(3) + C ⇒ C = −8,and the equation of
    the line parallel to 2x−y +3 = 0, and passing through (3, −2) is: y = 2x−8.

    We can determine the equation using the formula:


    y−y1
    x−x1 = m2 . Let's try this out:
    y−(−2)
    x−3 = 2 ⇒ y + 2 = 2(x − 3) ⇒ y = 2x − 6 − 2 ⇒ y = 2x − 8

    Example 2: Find k so that kx − 6y + 6 = 0 is perpendicular to the


    line −3x + 2y − 10 = 0.
    Solution: We are given two line:
    Line 1: kx − 6y + 6 = 0 ⇒ 6y = kx + 6 ⇒ y = k6 x + 1, so m1 = k6
    Line 2: −3x + 2y − 10 = 0 ⇒ 2y = 3x + 10 ⇒ y = 32 x + 5, so m2 = 3
    2

    Since we are claiming that the lines are perpendicular (they intersect forming
    a 90 degree angle at the intersection), then:

    1
    k 3 3k
    For perpendular lines: m1 × m2 = −1 ⇒ 6 × 2 = −1 ⇒ 12 = −1 ⇒ 3k =
    −12 ⇒ k = −4.

    Check: If k = −1,then Line 1 is specied as: y = − 64 x + 1, and m1 = − 32 .


    3 2 3
    know that m2 = ,then m1 × m2 = − ×
    Since we
    2 3 2 = −1.

    Question: What should be k so that kx − 6y + 6 = 0 is parallel to


    the line −3x + 2y − 10 = 0?
    Solution: m1 = m2 ⇒ k6 = 32 ⇒ 2k = 18 ⇒ k = 9

    Example 3: Show that the lines given by the equations below


    are parallel L : 2x + 3y = 6 and M : 4x + 6y = 0
    Solution: L : 2x + 3y = 6 ⇒ 3y = −2x + 6 ⇒ y = − 32 x + 2,so mL = − 23
    M : 4x + 6y = 0 ⇒ 6y = −4x + 0 ⇒ y = − 64 x + 0,so mM = − 46 = − 23 =
    mL ,hence tPrepared by Ronald R. Kumar, Course co-ordinator S1-2021 he lines
    are parallel.

    Example 4: Show that the lines given by the equations below


    are perpendicular.
    L : x − 2y = 6 and M : 2x + y = 1. Hint: nd the slope of the lines, and
    check if they satisfy mL × mM = −1.

    2 Systems of Linear Equation


    Denition: A solution of a linear equation in n variables is a sequence of n real
    numbers s1 , s2 , ..., sn arranged so that the equation is satised when the values
    x1 = s1 ,x2 = s2 ,...,xn = sn are substituted into the equation.
    Example 5: x + y = 8 is satised when x = 4, y = 4, or x = 1, y = 7, etc.
    The set of all solution of a linear equation is called its solution set.

    Denition: A system of linear equation is a collection of two or more linear


    equations, each having one or more varables.
    Example 6: A system of
    ( linear equation can be:

    L1 : x − y + 3z = 5
    √
    L2 : 2x + 2y − z −1
    Any solution of the system must satisfy each and every equation of the system.
    Not that in this case, we have two equations and 3 variables (unknowns).

    Example 7: An system with two equations and two unknowns (variables)


    can(
    be:
    L1 : x1 + 2x2 =4
    L2 : 3x1 − 2x2 = −5

    2
    An arbitrary system can be specied as:


     a11 x1 + a12 x2 + ... + a1n xn = b1

    a21 x1 + a22 x2 + ... + a2n xn

    = b2
    . .
    . .
    . .




    am1 x1 + am2 x2 + ... + amn xn = bn

    where aij is the coecient of xj in the ith equation.

    2.1 Finding Solutions of a System of Linear Equations


    Possibilities

    ˆ The system can have no solution.

    ˆ The system can have exatly one solution.

    ˆ The system can have an innite number of solution.

    ˆ The system can have no solution.

     when the system is inconsistent, or lines are parallel.


    (
    L1 : 2x + 2y =2
     Example 8:
    L2 : x + y =2

    ˆ The system can have exatly one solution.

     intersecting lines, consitent system, and equations are independent.


    (
    L1 : x − 2y =1
     Example 9:
    L2 : −2x + 3y = −1
     Solving this, we should get: (x, y) = (−1, −1).
    ˆ The system can have an innite number of solution

     with coincident lines, although the system is consistent; equations


    are dependent.
    (
    L1 : x + y =3
     Example 10:
    L2 : 2x + 2y =6
     L1 : x+y = 3 and L2 : 2x+2y = 6 ⇒ 2(x+y) = 6 ⇒ x+y = 3 ⇒ L1.

    3 Solving systems of Linear Equations


    3.1 Graphical Method
    We can use the graph as a means of approximating the solution of a system of
    linear equations. More accurate the graphs, the better the approximation.

    3
    3.2 Algebraic Method
    We can use algebraic operations on the linear equations to yield an equation
    with only one variable.

    Methods: Substitution and Elimination


    ˆ Substitution method

    1. Make one variable the subject, for one of the equations.

    2. Substitute the resultant equation of (1) in the remaining equations.

    3. If an equation with only one variable is obtained, solve it.

    4. Otherwise, repeat steps 1 and 2 until such an equation is obtained


    (when we have more than 2 unknowns or variables in the system).

    5. Find the values of the remaining variables by back-substitution.

    6. Check the solution  should be consistent.


    (
    3x − 2y = −9
     Example 11: Solve
    x + 3y =8

    Equation (1): 3x − 2y = −9. Rewrite this as: y = 23 x + 92 , and substitute in


    Equation (2): x + 3y = 8
    x + 3 32 x + 92 = 8 ⇒ x + 29 x + 27 9 27 2 9
      
    2 = 8 ⇒ x + 2x = 8 − 2 ⇒ x 2 + 2 =
    16 27
    2 − 2 ⇒ x 11 2 ⇒ − 11
    2 ⇒ x = −1
    3 9
    Since: y = x +
    2 2 ⇒ y = 23 (−1) + 92 = 26 = 3
    Hence, (x, y) = (−1, 3)

    ⇒ Check the solution:


    _ Equation 1: 3x − 2y = −9 ⇒ 3(−1) − 2(3) = −3 − 6 = 9
    _ Equation 2: x + 3y = 8 ⇒(−1) + 3(3) = −1 + 9 = 8.

    ˆ Elimination Method

    1. Select two equations from the system and eliminate a variable from
    them.

    2. If there are additional equations in the system, pair o equations and


    eliminate the same variable.

    3. Continue steps 1 & 2 on successive systems until one equation con-


    taining one variable remains.

    4. Solve for this variable and back-substitute in previous equations until


    all the variables have been found.
    (
    3x − 2y = −3
     Example 12: Solve
    x − 3y =6

    4
    Equation (1): 3x − 2y = −3
    Equation (2): x − 3y = 6
    Multilply equation (2) by 3 and we get: 3 (x − 3y = 6) ⇒ 3x − 9y = 18
    (which we label as Equation (3))
    Subtract equation (3) from equation (1)

    3x − 2y = −3- (1)
    (

    3x − 9y = 18 - (3)
    −2y − (−9y) = −3 − 18 ⇒ 7y = −21 ⇒ y = −3

    Then substitute y in either (1) or (2) to solve for x. Using (1), 3x − 2y =


    −3 ⇒ 3x − 2(−3) = −3 ⇒ 3x + 6 = −3 ⇒ 3x = −3 − 6
    3x = −9 ⇒ x = −3
    (x, y) = (−3, −3)

    ⇒ Check the solution:


     Equation (1): 3x − 2y = −3 ⇒ 3(−3) − 2(−3) = −9 + 6 = −3
     Equation (2): x − 3y = 6 ⇒ −3 − 3(−3) = −3 + 9 = 6

    3.3 Elementary Row Operations (using matrix) (optional)


    You can write the system of equation as Ax = b and hence x = A−1 b.
    (
    3x − 2y = −9
    Example 13: Solve
    x + 3y =8
         
    3 −2 −9 x
    Let A= , b = and x=
    1 3 8 y
       3 2
    
    3 2
    A−1 = 1
    = 111 11
    3
    11 −1 3 − 11 11

    3 2 3 2
            11   
    −1 11 11 −9 −9 11 + 8 − 11 −1
    x=A b= 1 3 × = 1
    11 
    3 = 33 =
    − 11 11 8 −9 − 11 +8 11 11 3
    x = −1 and y=3

    This can be easily demostrated in Excel. See Excel File Example 13 Demonstration-
    Lecture 2 on Moodle.

    4 Applications
    Example 14: On Monday, Peter bought three apples and four bananas for a
    total of one dollar and ninety cents. On Thursday, he bought two apples and

    5
    six bananas and which costed him a total of two dollars and ten cents. How
    much did the apples and the bananas cost?
    Solution: Let A = apple and B = banana
    Equation (1): 3A + 4B = 190
    Equation (2): 2A + 6B = 210

    Example 15: A Cinema sells tickets for $6.50 each, with children receiving
    a discount of $1.50. On one ne evening the theatre sold 475 tickets for the
    movie Iron Man 3 and took in $2825.00 revenue. How many of each type of
    ticket were sold? (Children and non-children)
    Solution: Let x = # of tickets sold to "non-children" and y = #of tickets sold to children
    Equation (1): x + y = 475
    Equation (2): 6.50x + 5y = 2825

    Example 16: A company has xed cost of $4, and the cost of producing
    one unit of their product is $2. The unit sells for $6 each. Write an equation
    for cist, C(x). Write an equation for revenue R(x). Solve the system of linear
    equations to nd the break-even point [ Breakeven point is where cost = revenue ]
    Solution:
    Letx = quantity or unit produced or sold
    Cost = C(x) = Fixed cost +Variable cost
    C(x) = 4 + 2x

    Revenue = R(x) = price × quantity


    R(x) = 6x
    Breakeven point: R(x) = C(x) ⇒ 6x = 4 + 2x ⇒ 4x = 4 ⇒ x = 1

    Prepared by Ronald R. Kumar, Course co-ordinator S1-2021

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