Review of Matrix Theory with Applications in Education and Decision Sciences

Title

Authors

Nguyen Huu Hau
(Department of Training Management, Hong Duc University, Thanh Hoa City, Vietnam)
Tran Trung Tinh
(National Academy of Education Management, Hanoi City, Vietnam)
Hoa Anh Tuong
(Department of Applied-Mathematics, Sai Gon University, Ho Chi Minh City, Vietnam)
Wing-Keung Wong
(Department of Finance, Fintech Center, Big Data Research Center, Asia University, Taiwan)

Abstract

Matrix theory plays a very important role in teaching Mathematics and solving mathematical problems. Studying the theory of matrix can help academics, practitioners, and students solve many problems in Engineering, Econometrics, Finance, Economics, Optimization, Decision Sciences, and many other areas. To review the matrix theory with applications, in this paper we first review the theory of matrix. We then discuss how to build up some mathematical, financial, economic, and statistical models by using matrix theory and discuss the applications by using the theory of matrix in Decision Sciences and other related areas like Mathematics, Economics, Finance, Statistics, and Education with real-life examples.

Keywords

Matrix, Decision Sciences, Education and Reality

Classification-JEL

A11, G02, G30, O35

Pages

28-69

https://doi.org/10.47654/v24y2020i1p28-69