total of 83 of PhD mathematics and 76 of the Masters holder respondents were in

Total of 83 of phd mathematics and 76 of the masters

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total of 83% of PhD mathematics and 76% of the Master’s holder respondents were in mathematics related jobs respectively. According to Heilio (2004), mathematical technology is a term referring to the interdisciplinary area combining applied mathematics, engineering and computer science. Computational technology has made sophisticated mathematical methods viable for practical applications. There is a window of opportunity for mutually beneficial two-way knowledge transfer between academia and industry. This also means a challenge for the university education. The modern and dynamic view of mathematics should be reflected in educational practices. This means new kinds of expertise are called for. Heilio (2004) stated that Industrial Mathematics is a fast growing field within the mathematical sciences. It is characterized by the origin of the problems which it engages; they all come from industry: Research and Development, finances, and communications. The common feature running through this enterprise is the goal of gaining a better understanding of industrial models and processes through mathematical ideas and computations. According to Heilio (2004) there is an approach of presenting real industrial problems and their mathematical modeling as a motivation for developing mathematical methods that are needed for solving the problems. Mathematics and Job Prospects According to BLS (2015), the American Healthcare occupations and industries are expected to have the fastest employment growth and to add the most jobs between 2014 and 2024. With the increase in the proportion of the population in older age groups, more people in the labor force will be entering prime retirement age. As a result, the labor force participation rate is projected to decrease and labor force growth to slow. This slowdown of labor force growth is expected, in turn, to lead to Gross Domestic Product (GDP) growth of 2.2 percent annually over the decade. The economic growth is projected to generate 9.8 million new jobs by 2024; a 6.5-percent increase between 2014 and 2024. The report further projected among others that the Computer and mathematical occupations sector will provide an increase of 13.1% by 2024 (fourth highest sector), generating an annual mean wage of $79,420,000. Mathematics has been called the language of science (Stecke, 2005). Mathematics is used to solve many real-world problems in industry, the physical sciences, life sciences, economics, social and human sciences, engineering, and technology, for example. Mathematics was used
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African Journal of Educational Studies in Mathematics and Sciences Vol. 12, 2016 81 to build many of the ancient wonders of the world, such as the pyramids of Egypt, the Great Wall of China, and the hanging gardens of Babylon. Early mathematics (computations, statistics, and accounting) has been applied to operations problems in administration and in managing technical activities, by public administrators, engineers, and managers. To Stecke (2005), the early project management techniques included project evaluation and review techniques and the critical path method. These are still used today to help manage large projects.
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