Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
DOI https://doi.org/10.31876/er.v47i7.847
Analysis of Mathematical Significance in Everyday
Economics: Exploration of Relevant Data and Findings
Análisis de la Significancia Matemática en la Economía Cotidiana:
Exploración de Datos y Hallazgos Relevantes
Dayana Lizbeth González Holguín*
Dayanna Nicole Iñamagua Dután*
María José Orellana Rosado*
Marcos Orellana Parra*
Ana Hinojosa*
Received: July 03, 2023
Approved: September 12, 2023
Abstract
In everyday life, mathematics is omnipresent, even if it often goes
unnoticed. Its value is especially noteworthy in the economic sphere,
where it is vital to prosperity in a variety of fields. From basic monetary
transactions to investment strategies, mathematics is essential for
success. This relevance is evident in financial decision making, which
impacts individuals and society. The study focused on how
mathematics intertwines with everyday finance, highlighting its
influence on economic choices. Using a quantitative approach and
surveys of 63 university students, it was identified that a high
percentage recognize the importance of mathematics in common
financial situations. It is concluded that mathematics is crucial for
interpreting data, advancing technology and scientific issues, and
building solid foundations in economics. A mastery of these skills
provides advantages in today's competitive and dynamic financial
environment. In summary, mathematics is fundamental to economic
decisions and plays an essential role in shaping a successful financial
future.
Keywords:
mathematics, economic decisions, daily life.
With respect to the upbringing of children, customs have advanced
significantly. In ancient times it was conceived that children should be
ignored and that they did not begin to be taken into account until
very late in childhood; gradually society has evolved and with it the
approaches to a humanized relationship between adults and children.
It is becoming more and more constant and at the same time relevant
the actions that lead to enjoy the child-adult relationship. Propitiating
a pertinent emotional and social development, not only in the family
environment but also in the educational spaces; spaces where specific
cultural and social pillars are cemented that contribute in an effective
way to a better progress in the individual. The games strengthen the
roles and position the individual in the most characteristic aspects of
Cite this:
González, D., Iñamagua, D.,
Orellana, M., Orellana, M., Hinojosa,
A. (2023). Análisis de la Significancia
Matemática en la Economía
Cotidiana: Exploración de Datos y
Hallazgos Relevantes. Espirales
Revista Multidisciplinaria de
investigación científica, 7 (47), 1-18.
* Estudiante de la Universidad Católica de Cuenca – Extensión
La Troncal, Cañar – Ecuador,
dayana.gonzalez.77@est.ucacue.edu.ec,
https://orcid.org/0009-0005-9886-2761
* Estudiante de la Universidad Católica de Cuenca – Extensión
La Troncal, Cañar – Ecuador,
dayanna.inamagua@est.ucacue.edu.ec,
https://orcid.org/0009-0003-0182-2663
* Estudiante de la Universidad Católica de Cuenca – Extensión
La Troncal, La Troncal, Cañar – Ecuador,
maria.rosado@est.ucacue.edu.ec, https://orcid.org/0000-
0001-5610-7147
* Docente, Universidad Católica de Cuenca extension La
Troncal, carrera de Contabilidad y Auditoría, La Troncal, Cañar-
Ecuador, morellanap@ucacue.edu.ec,
https://orcid.org/0000-0003-2976-316X
* Docente, Universidad Católica de Cuenca campus La Troncal,
carrera de Contabilidad y Auditoría, La Troncal, Cañar-Ecuador,
aghinojosac@ucacue.edu.ec, https://orcid.org/0000-0001-
6885-0384
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
2
Introduction
Mathematics is a judicious science that begins with the study of geometric figures and
calculus with numbers. There is no generally accepted definition of mathematics, today
it is often described as the science that uses logic to study the properties and patterns
of abstract structures created by logical definitions.
According to Cantoral (2016), everyday life, or quotidianity, is the space in which each
of us has to confront with our own gender identity and with practices coming from the
social context that fortify the central elements of our identity or force us to honestly
question ourselves and others (p. 72).
It is essential to define mathematics precisely: it is the science that through logical
reasoning studies relationships and properties between geometric figures, symbols or
numbers. This analogy between elements is found in simple, everyday activities as well
as in complex processes and daily problems. The field of mathematics can be divided
into four broad categories: Arithmetic, related to numbers; Algebra, related to
structures; Geometry, related to segments and figures; and Statistics, related to data
analysis.
The main objective of this research is to analyze and highlight the importance of
mathematics in everyday life, highlighting its relevance in different aspects of today's
society, from the perspective of university students; identifying and describing the
various contexts in which mathematics is present in everyday life, covering areas such
as personal finance, statistics, measurements, geometry, among others; exploring and
analyzing concrete examples that illustrate the application of mathematical concepts in
Resumen
En la vida diaria, las matemáticas son omnipresentes, aunque a
menudo pasen desapercibidas. Su valor es especialmente destacable
en el ámbito económico, donde son vitales para la prosperidad en
diversos campos. Desde transacciones monetarias básicas hasta
estrategias de inversión, las matemáticas son esenciales para el éxito.
Esta relevancia se evidencia en la toma de decisiones financieras, que
impactan a individuos y a la sociedad. El estudio se enfocó en cómo
las matemáticas se entrelazan con las finanzas cotidianas, destacando
su influencia en las elecciones económicas. Utilizando un enfoque
cuantitativo y encuestas a 63 estudiantes universitarios, se identificó
que un alto porcentaje reconoce la importancia de las matemáticas
en situaciones financieras comunes. Se concluye que las matemáticas
son cruciales para interpretar datos, avanzar en tecnología y
cuestiones científicas, y construir bases sólidas en el ámbito
económico. Un dominio de estas habilidades brinda ventajas en el
competitivo y dinámico entorno financiero actual. En resumen, las
matemáticas son fundamentales en las decisiones económicas y
poseen un rol esencial en la formación de un futuro exitoso en el
ámbito financiero.
Palabras clave:
matemáticas, decisiones económicas, vida cotidiana.
With respect to the upbringing of children, customs have advanced
significantly. In ancient times it was conceived that children should be
ignored and that they did not begin to be taken into account until
very late in childhood; gradually society has evolved and with it the
approaches to a humanized relationship between adults and children.
It is becoming more and more constant and at the same time relevant
the actions that lead to enjoy the child-adult relationship. Propitiating
a pertinent emotional and social development, not only in the family
environment but also in the educational spaces; spaces where specific
cultural and social pillars are cemented that contribute in an effective
way to a better progress in the individual. The games strengthen the
roles and position the individual in the most characteristic aspects of
his personality.
Keyword:
Games, tradition, development, school
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
3
common situations of daily life, highlighting their usefulness and relevance, and;
evaluating the perception and appreciation of university students towards mathematics
in their daily lives, analyzing their degree of awareness of the importance of this
discipline and their ability to recognize and use mathematical concepts in different areas
of their personal and professional environment.
In a broad sense, the acquisition and improvement of mathematical knowledge is
related to the progress of the cognitive and intellectual aspects below:
• Analytical thinking: can define thoughts designed to divide the expression
that constitutes something, for example, an argument. Thus, the relationship
between them can be determined and conclude that the reliability or
rejection of the objects of analysis. This process is exactly what follows when
solving mathematical problems.
• Orderly reasoning: facing life's problems implies a coherent analytical
process that requires the ability to organize ideas and express them
adequately in order to more effectively solve any setback, no matter how
small.
• Mental agility: once you have developed the above skills, the ease and
speed with which you can approach any situation requiring probability
calculation, logical thinking and decision making is greatly increased.
"Mathematics is omnipresent in the understanding of our planet and the organization
of our civilization." (UNESCO, 2023). In medicine it is increasingly common to perform
studies that involve some kind of image and every day the techniques to capture them
improve, for example, CT scans. In this process, in addition to the technology used,
efficient, fast and reliable algorithms are required to analyze the data generated by the
device and produce an image from which we can interpret health or disease. The
mathematics used to generate this image are highly complex and are constantly being
renewed to improve the results.
According to Pineda (2009), in telecommunications it is important to transmit data
between two locations efficiently, quickly and securely. The tools used in the design and
execution of algorithms require a formidable mathematical work. Programs are
continually tested to detect failures and updated to improve services, all of which are
aimed at making them faster, more efficient and secure (p. 5).
Computers and the means of communication and information have created a
magnificent couple around the Internet, where we can perform a great number of
actions such as buying, selling, communicating, working, making transactions, searching
for information about anything, reading news, books, documents, magazines. A great
responsible is the progress of technology, but another is the amount of mathematical
tools that are developed in parallel.
The analysis of mathematical relevance in everyday economic life encompasses a wide
range of crucial concepts, among which supply and demand models, as studied by Arya
& Larner (2009)play a fundamental role. These models provide a structured framework
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
4
for appreciating how prices, quantities of goods and services available and required
interact with each other and how these interactions influence market equilibrium.
Through the use of mathematical tools such as graphs and equations, economists can
quantify these relationships and explore various scenarios. This approach not only
facilitates more informed decision making at the microeconomic and personal level, but
also at the macroeconomic level, influencing policy formulation and anticipating future
economic trends.Mathematical analysis of supply and demand models uncovers hidden
patterns within economic data, thus contributing to a deeper understanding of how
everyday economic factors interact and how they ultimately shape overall economic
outcomes.
The influence of mathematics on decision making, in the context of John Nash's game
theory, proves to be a revolutionary approach that illuminates the complexity of
strategic interactions. This theory provides a rigorous mathematical framework for
analyzing situations in which the decisions of one individual are interconnected with the
decisions of others. Through concepts such as Nash equilibrium, this theory sheds light
on how rational agents make decisions by considering the actions and reactions of other
participants.
According to López-Dóriga's clarifications (2015)game theory demonstrates that
mathematics is not only a tool for quantifying economic outcomes, but also for exploring
how individual choices impact collective outcomes. By providing mathematical models
that capture the complexity of strategies and relationships between players, Nash game
theory has transformed the understanding of decision making in fields such as
economics, politics and biology.
Thanks to this perspective, mathematics becomes a powerful tool for analyzing and
forecasting how individual actions can influence the overall dynamics of a situation, and
how a stability can be reached in which no player has an incentive to change his choice
given the behavior of others, known as the Nash equilibrium concept.
The influence of mathematics in the calculation of interest and discount rates is
undeniable and essential for the functioning of modern finance, a fact that is evidenced
in the material developed by Juan Carlos Cevallos Hoppe (2020)The use of
mathematical formulas and equations allows financial institutions, companies and
individuals to accurately and efficiently calculate the cost of money over time. In the
case of interest rates, mathematics makes it possible to determine how much interest
will be paid or earned over a specific period, considering variables such as initial
principal, interest rate and time. Similarly, in discount calculations, mathematics makes
it possible to evaluate the present value of future cash flows, taking into account the
discount rate and the time period.
The application of mathematics in these calculations enables informed decisions in
crucial areas such as investment, borrowing and financial planning. In addition, these
mathematical tools are also fundamental to monetary policy design, financial asset
valuation and risk management. Ultimately, the influence of mathematics in interest and
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
5
discount rate calculations is a pillar upon which the foundations of sound and strategic
financial decision making are built in today's economic world.
The analysis of mathematical significance in everyday economics, as we have explored
throughout this review, reveals the profound and versatile impact of mathematics on
our daily lives and decision making in a variety of fields. From the study of geometric
figures to solving complex economic problems, mathematics offers a universal language
for understanding and quantifying patterns, relationships, and phenomena in our
environment. This influence extends to vital areas such as medicine, finance,
telecommunications and economics, where mathematics enables more accurate
diagnoses, informed financial decisions and modeling of strategic interactions. Nash
game theory exemplifies how mathematics not only quantifies outcomes, but also
reveals patterns of human and strategic behavior. Interest and discount rate calculations
demonstrate how mathematics is essential in financial valuation and risk management.
Ultimately, the constant presence of mathematics in our everyday lives is a reminder of
its power to improve decision making and enrich our understanding of the world around
us. Mathematics is indeed a ubiquitous tool that empowers us to deftly navigate the
economic and social complexity of our civilization.
Materials and methods
This research is based on a quantitative approach with an exploratory descriptive scope,
using the survey technique, the instrument was designed with a Likert scale associating
the criteria Strongly disagree, Disagree, Neither agree nor disagree, Agree, and
Strongly agree to values from 1 to 5, This tool evaluates the perception and appreciation
of university students towards mathematics in their daily lives, addressing their
awareness of the importance of mathematics, their ability to recognize situations in
which mathematical concepts are applied, and their level of confidence and ability to
use these skills in different areas of their lives.
The survey underwent a content validation process, in which expert teachers in the area
of mathematics and statistics reviewed and evaluated the relevance and pertinence of
the questions, and adjustments were made based on their recommendations.
Starting with a finite population of 480 university students, the sample is calculated
using the equation:
! "
# $ %
∝
"
$ & $ '
(
)
"
$ *# + ,-
.
/ 0%
∝
"
$ & $ '1
(1)
Knowing that: # is the total population (480), %
∝
is equal to 1.96 if the safety is 95%, &
is the expected proportion being 5% recommended (0.05), ' is equal to 1 minus & (0.05),
i.e. 0.95 and ) is the precision which, like the expected proportion of 5%, is
recommended, a sample of 63 individuals is obtained.
Results
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
6
The results obtained from this research are detailed below:
Table 1.
Mathematics is fundamental to my academic and professional development.
Options
Percentages
Strongly disagree
5,4%
Disagree
7,1%
Neither agree nor disagree
10,7%
Agreed
42,9%
Totally agree
33,9%
Total
100%
This question explores respondents' perception of the importance of mathematics to
their academic and professional development. Overall, the results suggest that a
majority of respondents (both those who "agree" and "strongly agree") recognize the
importance of mathematics in their academic and professional development. However,
there is also a significant proportion of respondents who do not share this view or do
not have a definite opinion on the matter. This may indicate a variety of perspectives
and attitudes toward mathematics among survey participants.
Table 2.
I recognize the presence of mathematical concepts in everyday situations.
Options
Percentage
Strongly disagree
5,4%
Disagree
3,6%
Neither agree nor disagree
17,9%
Agreed
57,1%
Totally agree
16,1%
Total
100%
Question 2 explores respondents' perception of their ability to recognize the presence
of mathematical concepts in everyday situations: A small percentage of respondents
(5.4%) expressed that they do not recognize the presence of mathematical concepts in
everyday situations at all. This could indicate that some respondents are not aware of
how mathematics is involved in their daily lives. Another minority group (3.6%)
disagreed with the statement. This percentage is even lower than in the previous
category. There may be different reasons for this, such as lack of attention to
mathematical details in their environment. A significant proportion of respondents
(17.9%) do not have a clear opinion on whether or not they recognize the presence of
mathematical concepts in everyday situations. This could suggest some uncertainty in
their ability to identify mathematical elements in their daily lives. A considerable
percentage of respondents (57.1%) agree that they recognize the presence of
mathematical concepts in everyday situations. This indicates that the majority of
participants feel that they can identify how mathematics is present in different aspects
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
7
of their daily lives. A notable percentage (16.1%) strongly agree that they recognize the
presence of mathematical concepts in everyday situations. This reinforces the idea that
a substantial proportion of respondents are aware of the influence of mathematics in
their daily lives. In summary, the results suggest that the majority of respondents feel
that they can recognize the presence of mathematical concepts in everyday situations.
However, there is also a significant portion who are unsure or do not share this opinion.
This may indicate a variety of levels of awareness and understanding of the influence of
mathematics in everyday life among the survey participants.
Table 3.
I feel confident in applying mathematical skills in different areas of my life.
Options
Percentage
Strongly disagree
1,8%
Disagree
8,9%
Neither agree nor disagree
14,3%
Agreed
60,7%
Totally agree
14,3%
Total
100%
This question probes respondents' confidence in applying mathematical skills in various
areas of their life: A small percentage of respondents (1.8%) expressed that they do not
feel at all confident in applying mathematical skills in different areas of their life. This
may indicate a lack of confidence in their mathematical abilities and a possible need for
support or reinforcement in this area. Another minority group (8.9%) disagreed with the
statement. Although this percentage is higher than in the previous category, it is still
relatively low. There may be personal reasons or experiences that contribute to this lack
of confidence. A significant proportion of respondents (14.3%) do not have a clear
opinion about whether or not they feel confident in applying mathematical skills in
different areas of their lives. This may reflect some hesitancy or ambivalence about their
level of mathematical confidence. A considerable percentage of respondents (60.7%)
agree that they feel confident in applying mathematical skills in different areas of their
life. This suggests that most participants feel confident in their ability to use
mathematics in various situations. A notable percentage (14.3%) strongly agree that
they feel confident in applying mathematical skills in different areas of their lives. This
figure reinforces the idea that a substantial portion of respondents are confident and
comfortable with applying mathematics in different contexts. In summary, the results
indicate that the majority of respondents feel confident in applying mathematical skills
in various areas of their lives. Although there is a minority group that does not share this
confidence, most appear to be comfortable using mathematics in everyday and broader
situations.
Table 4.
Mathematics is essential for making informed decisions in daily life.
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
8
Options
Percentage
Strongly disagree
3,6%
Disagree
10,7%
Neither agree nor disagree
25,0%
Agreed
46,4%
Totally agree
14,3%
Total
100%
This question assesses respondents' perception of the importance of mathematics in
making informed decisions in daily life: A small percentage of respondents (3.6%)
strongly disagree with the statement that mathematics is essential for making informed
decisions in daily life. This could indicate that some respondents do not see a direct
relationship between mathematics and decision making. Another minority group
(10.7%) disagrees with the statement. Although this percentage is higher than in the
previous category, it is still relatively low. There may be diverse perspectives on the role
of mathematics in decision making. A significant proportion of respondents (25.0%) do
not have a clear opinion on whether mathematics is essential for making informed
decisions. This may suggest some hesitancy or lack of clarity about the connection
between mathematics and decision making. A substantial percentage of respondents
(46.4%) agree that mathematics is essential for making informed decisions in daily life.
This suggests that a majority consider mathematics to play an important role in informed
decision making. A notable percentage (14.3%) strongly agree that mathematics is
essential for making informed decisions. This reinforces the idea that a significant
portion of respondents value the importance of mathematics in the decision-making
process.
In summary, the results indicate that the majority of respondents see a connection
between mathematics and informed decision making in everyday life. Although there
are some dissenting voices, the prevailing view is that mathematics plays a fundamental
role in informed decision making in different contexts.
Table 5.
I consider mathematics to be a key tool for logical reasoning.
Options
Percentage
Strongly disagree
5,4%
Disagree
7,1%
Neither agree nor disagree
10,7%
Agreed
50,0%
Totally agree
26,8%
Total
100%
This question explores respondents' perception of whether they consider mathematics
to be a key tool for logical reasoning: A small percentage of respondents (5.4%) strongly
disagree with the idea that mathematics is a key tool for logical reasoning. This may
suggest that some participants do not see a direct relationship between mathematics
and the development of logical reasoning. Another minority group (7.1%) disagrees
with the statement. Although this percentage is higher than in the previous category, it
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
9
is still relatively low. There may be different views on how mathematics influences logical
reasoning. A significant proportion of respondents (10.7%) do not have a clear opinion
on whether mathematics is a key tool for logical reasoning. This may reflect some
indecision or lack of certainty about the relationship between mathematics and logic. A
substantial percentage of respondents (50.0%) agree that mathematics is a key tool for
logical reasoning. This suggests that a majority consider that mathematics plays an
important role in the development of logical thinking. A notable percentage (26.8%)
strongly agree that mathematics is a key tool for logical reasoning. This reinforces the
idea that a substantial portion of respondents value the relationship between
mathematics and logic.
In summary, the results indicate that the majority of respondents see a connection
between mathematics and logical reasoning. Although there are some dissenting
opinions, the prevailing view is that mathematics plays an important role in the
development of logical thinking.
Table 6
. I am comfortable solving problems that require mathematical skills.
Options
Percentage
Strongly disagree
7,1%
Disagree
12,5%
Neither agree nor disagree
19,6%
Agreed
41,1%
Totally agree
19,6%
Total
100%
This question explores respondents' comfort in solving problems that require
mathematical skills: a small percentage of respondents (7.1%) strongly disagree with the
statement that they are comfortable solving problems that require mathematical skills.
This may indicate that some participants do not feel confident in tackling mathematical
problems. Another minority group (12.5%) disagrees with the statement. Although this
percentage is higher than in the previous category, it is still relatively low. There may be
a variety of reasons for this lack of comfort, such as lack of confidence in one's own
mathematical abilities. A significant proportion of respondents (19.6%) do not have a
clear opinion about whether or not they feel comfortable solving problems that require
mathematical skills. This may suggest some hesitancy or ambivalence about their
comfort level with mathematical problems. A substantial percentage of respondents
(41.1%) agree that they are comfortable solving problems that require mathematical
skills. This suggests that a significant portion of participants feel confident in
approaching mathematical situations. A notable percentage (19.6%) strongly agree that
they feel comfortable solving problems that require mathematical skills. This reinforces
the idea that a substantial proportion of respondents feel comfortable and competent
when facing mathematical challenges.
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
10
In summary, the results indicate that a majority of respondents feel comfortable solving
problems that require mathematical skills. Although there are some dissenting voices,
the prevailing view is that many participants feel confident in solving mathematical
problems.
Table 7
. I use mathematics to manage my budget and handle my personal finances.
Options
Percentage
Strongly disagree
7,1%
Disagree
5,4%
Neither agree nor disagree
8,9%
Agreed
53,6%
Totally agree
25,0%
Total
100%
Through this question we analyze whether respondents use mathematics to manage
their budget and personal finances: A small percentage of respondents (7.1%)
completely disagree with the statement that they use mathematics to manage their
budget and personal finances. This may suggest that some participants do not consider
mathematics to be a useful tool in their financial management. Another minority group
(5.4%) disagrees with the statement. This percentage is even lower than in the previous
category. There may be various reasons for this, such as a preference for other methods
of financial management. A significant proportion of respondents (8.9%) do not have a
clear opinion on whether or not they use mathematics to manage their budget and
personal finances. This may reflect some hesitancy or ambivalence about the role of
mathematics in financial management. A substantial percentage of respondents (53.6%)
agree that they use mathematics to manage their budget and personal finances. This
suggests that the majority of participants consider mathematics to be a useful tool in
managing their financial affairs. A notable percentage (25.0%) strongly agree that they
use mathematics to manage their budget and personal finances. This reinforces the idea
that a substantial portion of respondents value the relationship between mathematics
and personal financial management.
The results indicate that the majority of respondents use mathematics to manage their
budget and personal finances. Although there are some dissenting opinions, the
prevailing view is that mathematics is a valuable tool in day-to-day financial
management.
Table 8
. I understand how mathematical concepts are applied in practical situations.
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
11
Options
Percentage
Strongly disagree
7,1%
Disagree
3,6%
Neither agree nor disagree
8,9%
Agreed
62,5%
Totally agree
17,9%
Total
100%
This question explores whether respondents understand how mathematical concepts
are applied in practical situations: A small percentage of respondents (7.1%) strongly
disagree with the statement that they understand how mathematical concepts are
applied in practical situations. This may suggest that some participants do not feel
confident in the connection between mathematical concepts and their application in
real life. Another minority group (3.6%) disagrees with the statement. Although this
percentage is still lower than in the previous category, it is still relatively low. There may
be a variety of reasons for this lack of understanding, such as a limited view of how
mathematics applies in practical situations. A significant proportion of respondents
(8.9%) do not have a clear view on whether or not they understand how mathematical
concepts apply in practical situations. This may suggest some indecision or lack of clarity
as to their level of understanding of the practical application of mathematics. A
substantial percentage of respondents (62.5%) agree that they understand how
mathematical concepts apply in practical situations. This suggests that a majority of
participants feel that they understand the relationship between mathematics and its use
in everyday life. A notable percentage (17.9%) strongly agree that they understand how
mathematical concepts apply in practical situations. This reinforces the idea that a
substantial portion of respondents have a solid understanding of how mathematics is
used in practical contexts, the majority of respondents feel that they understand how
mathematical concepts apply in practical situations. Although there are some dissenting
opinions and one group that is unsure, the prevailing view is that many participants
understand the practical application of mathematics in their daily lives.
Table 9
. Mathematics helps me interpret statistical data and graphs.
Options
Percentage
Strongly disagree
5,4%
Disagree
3,6%
Neither agree nor disagree
8,9%
Agreed
58,9%
Totally agree
23,2%
Total
100%
The question in question explores whether mathematics helps respondents interpret
statistical data and graphs: A small percentage of respondents (5.4%) strongly
disagreed with the statement that mathematics helps them interpret statistical data and
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
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graphs. This may suggest that some participants do not see a direct relationship
between mathematics and the interpretation of statistical information. Another minority
group (3.6%) disagrees with the statement. Although this percentage is still lower than
in the previous category, it is still relatively low. There may be different reasons for this
perception, such as a limited view of how mathematics is applied in statistical
interpretation. A significant proportion of respondents (8.9%) do not have a clear
opinion on whether or not mathematics helps them in interpreting statistical data and
graphs. This may reflect some hesitation or lack of certainty about the role of
mathematics in statistical interpretation. A considerable percentage of respondents
(58.9%) agree that mathematics helps them interpret statistical data and graphs. This
suggests that the majority of participants consider mathematics to be a valuable tool
for analyzing statistical information. A notable percentage (23.2%) strongly agree that
mathematics helps them interpret statistical data and graphs. This reinforces the idea
that a substantial portion of respondents value the relationship between mathematics
and statistical interpretation, respondents believe that mathematics is useful for
interpreting statistical data and graphs. Although there are some dissenting voices and
a group that is unsure, the predominant view is that mathematics plays an important
role in interpreting statistical information.
Table 10.
I believe that mathematics is essential for developing critical thinking skills.
Options
Percentage
Strongly disagree
3,6%
Disagree
5,4%
Neither agree nor disagree
19,6%
Agreed
55,4%
Totally agree
16,1%
Total
100%
The results of question No.10 explores whether respondents believe that mathematics
is essential for developing critical thinking skills: A small percentage of respondents
(3.6%) strongly disagree with the statement that mathematics is essential for developing
critical thinking skills. This may suggest that some participants do not see a direct
connection between mathematics and critical thinking. Another minority group (5.4%)
disagrees with the statement. Although this percentage is still lower than in the previous
category, it is still relatively low. There may be different views on how mathematics
influences the development of critical thinking. A significant proportion of respondents
(19.6%) do not have a clear opinion on whether or not mathematics is essential for
developing critical thinking skills. This may reflect some indecision or ambivalence
about the relationship between mathematics and critical thinking. A considerable
percentage of respondents (55.4%) agree that mathematics is essential for developing
critical thinking skills. This suggests that the majority of participants consider that
mathematics plays an important role in the formation of critical thinking. A notable
percentage (16.1%) strongly agree that mathematics is essential for developing critical
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
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Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
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thinking skills. This reinforces the idea that a substantial portion of respondents value
the relationship between mathematics and critical thinking.
Table 11.
I use mathematical concepts to make decisions in my personal and
professional life.
Options
Percentage
Strongly disagree
12,5%
Disagree
7,1%
Neither agree nor disagree
10,7%
Agreed
25,0%
Totally agree
44,6%
Total
100%
Source: own elaboration
The results of this question examine whether respondents use mathematical concepts
to make decisions in their personal and professional lives: A significant percentage of
respondents (12.5%) strongly disagree with the statement that they use mathematical
concepts to make decisions in their personal and professional lives. This may suggest
that some participants do not consider mathematics relevant to their decisions. Another
minority group (7.1%) disagrees with the statement. Although this percentage is still
lower than in the previous category, it is still relatively low. There may be various reasons
for this perception, such as a preference for other ways of making decisions. A
significant proportion of respondents (10.7%) do not have a clear opinion on whether
or not they use mathematical concepts to make decisions in their personal and
professional lives. This may reflect some indecision or ambivalence about the
relationship between mathematics and decision making. A considerable percentage of
respondents (25.0%) agree that they use mathematical concepts to make decisions in
their personal and professional lives. This suggests that a considerable segment of the
participants consider that mathematics influences their decision-making process. A
significant percentage (44.6%) strongly agree that they use mathematical concepts to
make decisions in their personal and professional lives. This reinforces the idea that a
substantial portion of respondents value the relationship between mathematics and
decision making.
In summary, the results indicate that a majority of respondents use mathematical
concepts to make decisions in their personal and professional lives. Although there are
some dissenting voices and a group that is unsure, the prevailing opinion is that
mathematics plays an important role in everyday decision making.
Table 12.
Mathematics provides me with tools to solve problems efficiently.
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
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Options
Percentage
Strongly disagree
3,6%
Disagree
5,4%
Neither agree nor disagree
19,6%
Agreed
55,4%
Totally agree
16,1%
Total
100%
Source: own elaboration
The results of the question that asks whether respondents believe that mathematics
provides them with tools to solve problems efficiently reveal that: A small percentage
of respondents (3.6%) strongly disagree with the statement that mathematics provides
them with tools to solve problems efficiently. This may suggest that some participants
do not see a direct relationship between mathematics and efficient problem solving.
Another minority group (5.4%) disagrees with the statement. Although this percentage
is still lower than in the previous category, it is still relatively low. There may be different
perspectives on how mathematics influences problem solving. A significant proportion
of respondents (19.6%) do not have a clear opinion on whether or not mathematics
provides them with tools to solve problems efficiently. This may suggest some hesitation
or lack of certainty about the role of mathematics in problem solving. A considerable
percentage of respondents (55.4%) agree that mathematics provides them with tools to
solve problems efficiently. This suggests that the majority of participants consider
mathematics to be valuable for effectively addressing problems. A notable percentage
(16.1%) strongly agree that mathematics provides them with tools to solve problems
efficiently. This reinforces the idea that a substantial portion of respondents value the
relationship between mathematics and efficient problem solving. In summary, the
results indicate that the majority of respondents believe that mathematics provides
them with tools to solve problems efficiently. Although there are some dissenting
opinions and a group that is unsure, the predominant opinion is that mathematics plays
an important role in effective problem solving.
Table 13.
It is easy for me to apply mathematical skills in the field of technology and
computing.
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
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Options
Percentage
Strongly disagree
3,6%
Disagree
10,7%
Neither agree nor disagree
26,8%
Agreed
42,9%
Totally agree
16,1%
Total
100%
Source: own elaboration
This question seeks to inquire whether respondents find it comfortable to apply
mathematical skills in contexts related to technology and computer science, it makes it
evident that: A small percentage of respondents (3.6%) strongly disagree with the
statement that they find it easy to apply mathematical skills in technology and
computer-related settings. This may suggest that some participants do not see a direct
relationship or do not experience ease in applying math skills in these areas. Another
minority group (10.7%) disagrees with the statement. Although this percentage is higher
than in the previous category, it is still relatively low. There may be different views on
the ease of applying mathematics in technology and computer science. A significant
proportion of respondents (26.8%) do not have a clear opinion on whether or not they
find it easy to apply mathematical skills in technology and computing. This may suggest
some hesitancy or lack of experience in this area. A considerable percentage of
respondents (42.9%) agree that they find it easy to apply mathematical skills in the area
of technology and computer science. This suggests that a significant portion of the
participants consider mathematical skills to be relevant and applicable in these fields. A
notable percentage (16.1%) strongly agree that they find it easy to apply mathematical
skills in the field of technology and computer science. This reinforces the idea that a
substantial portion of respondents feel an effective connection between math skills and
these fields.
In summary, the results indicate that a majority of respondents believe that they find it
easy to apply mathematical skills in the field of technology and computer science.
Although there are some dissenting opinions and a group that is unsure, the prevailing
view is that many people find math skills appropriate and useful in these contexts.
Table 14.
Mathematics is important for understanding and using measurements in
everyday life.
Options
Percentage
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Strongly disagree
3,6%
Disagree
10,7%
Neither agree nor disagree
8,9%
Agreed
50,0%
Totally agree
26,8%
Total
100%
Source: own elaboration
From the question that explores whether respondents consider mathematics important
for understanding and using measurements in everyday life, it is noted that: A small
percentage of respondents (3.6%) strongly disagree with the statement that
mathematics is important for understanding and using measurements in everyday life.
This may suggest that some participants do not see a direct relationship between
mathematics and understanding and using measurements. Another minority group
(10.7%) disagreed with the statement. Although this percentage is higher than in the
previous category, it is still relatively low. There may be different perspectives on the
importance of mathematics in the context of everyday measurements. A significant
proportion of respondents (8.9%) do not have a clear opinion on whether or not
mathematics is important for understanding and using measurements in everyday life.
This may reflect some hesitation or lack of certainty about the relationship between
mathematics and measurements. A considerable percentage of respondents (50.0%)
agree that mathematics is important for understanding and using measurements in
everyday life. This suggests that the majority of participants consider mathematics to be
fundamental to understanding measurement concepts. A notable percentage (26.8%)
strongly agree that mathematics is important for understanding and using measurement
in everyday life. This reinforces the idea that a substantial portion of respondents value
the relationship between mathematics and the use of measurements.
In summary, the results indicate that the majority of respondents believe that
mathematics is important for understanding and using measurements in everyday life.
Although there are some dissenting opinions and a group that is unsure, the
predominant opinion is that mathematics plays a key role in understanding
measurements in everyday life.
Table 15.
I find mathematics useful for understanding and analyzing trends in different
fields.
Options
Percentage
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
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Strongly disagree
5,4%
Disagree
8,9%
Neither agree nor disagree
12,5%
Agreed
48,2%
Totally agree
25,0%
Total
100%
Source: own elaboration
This question that explores, whether respondents find mathematics useful for
understanding and analyzing trends in different fields, it is claimed that: A small
percentage of respondents (5.4%) strongly disagree with the statement that
mathematics is useful for understanding and analyzing trends in different fields. This
may suggest that some participants do not see a direct relationship between
mathematics and understanding trends in various areas. Another minority group (8.9%)
disagrees with the statement. Although this percentage is higher than in the previous
category, it is still relatively low. There may be different views on the role of mathematics
in interpreting trends. A significant proportion of respondents (12.5%) do not have a
clear opinion on whether or not mathematics is useful in understanding and analyzing
trends in different fields. This may suggest some hesitation or lack of certainty as to the
relationship between mathematics and trend analysis. A considerable percentage of
respondents (48.2%) agree that mathematics is useful for understanding and analyzing
trends in different fields. This suggests that a significant portion of the participants
consider mathematics to be valuable for interpreting patterns and trends in various
areas. A significant percentage (25.0%) strongly agree that mathematics is useful for
understanding and analyzing trends in different fields. This reinforces the idea that a
substantial portion of respondents value the relationship between mathematics and
trend interpretation.
In summary, the results indicate that a majority of respondents believe that mathematics
is useful in understanding and analyzing trends in different fields. Although there are
some dissenting opinions and a group that is not sure, the predominant opinion is that
mathematics plays an important role in interpreting trends in various areas. The question
asking whether respondents feel able to use mathematics to solve problems in their
daily lives shows that: A significant percentage of respondents (7.1%) completely
disagree with the statement that they feel able to use mathematics to solve problems
in their daily lives. This may suggest that some participants do not feel confident in their
ability to apply mathematics in everyday situations. Another minority group (5.4%)
disagrees with the statement. Although this percentage is still lower than in the previous
category, it is still relatively low. There may be different levels of confidence in the ability
to solve problems using mathematics. A significant proportion of respondents (21.4%)
do not have a clear opinion about whether or not they feel able to use mathematics to
solve problems in their daily lives. This may reflect some hesitation or lack of confidence
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
18
in applying mathematics. A considerable percentage of respondents (51.8%) agree that
they feel able to use mathematics to solve problems in their daily lives. This suggests
that a majority of participants are confident in their ability to apply mathematics in
practical situations. A significant percentage (14.3%) strongly agree that they feel able
to use mathematics to solve problems in their daily lives. This reinforces the idea that a
substantial portion of respondents have high confidence in their ability to apply
mathematics in their daily lives.
This question explores whether respondents believe that mathematics is essential for
the development of new technologies and scientific advances: A small percentage of
respondents (5.4%) strongly disagree with the statement that mathematics is essential
for the development of new technologies and scientific advances. This may suggest that
some participants do not see a direct relationship between mathematics and
technological and scientific progress. Another minority group (5.4%) disagrees with the
statement. Although this percentage is the same as in the previous category, it is still
relatively low. There may be different perspectives on the role of mathematics in
technological and scientific development. A significant proportion of respondents
(14.3%) do not have a clear opinion on whether or not mathematics is essential for the
development of new technologies and scientific advances. This may reflect some
indecision or lack of certainty as to the relationship between mathematics and
technological and scientific progress. A considerable percentage of respondents
(48.2%) agree that mathematics is essential for the development of new technologies
and scientific advances. This suggests that a significant portion of the participants
consider that mathematics plays a fundamental role in technological and scientific
progress. A significant percentage (26.8%) strongly agree that mathematics is essential
for the development of new technologies and scientific advances. This reinforces the
idea that a substantial portion of respondents value the relationship between
mathematics and technological and scientific progress.
From the results obtained in the question exploring whether respondents believe that
mathematics is relevant in financial decision making and business management, it can
be stated that: A small percentage of respondents (5.4%) completely disagree with the
statement that mathematics is relevant in financial decision making and business
management. This may suggest that some participants do not see a direct relationship
between mathematics and financial and business management. Another minority group
(7.1%) disagrees with the statement. Although this percentage is slightly higher than in
the previous category, it is still relatively low. There may be different views on the role
of mathematics in financial decision making and business management. A significant
proportion of respondents (7.1%) do not have a clear opinion on whether or not
mathematics is relevant in financial decision making and business management. This
may reflect some indecision or lack of certainty as to the relationship between
mathematics and financial and business management. A considerable percentage of
respondents (50.0%) agree that mathematics is relevant to financial decision making
and business management. This suggests that a majority of the participants consider
mathematics to be valuable to the financial and business domain. A significant
percentage (30.4%) strongly agree that mathematics is relevant to financial decision
Dayana Lizbeth González Holguín, Dayanna Nicole Iñamagua Dután, María José Orellana Rosado, Marcos Orellana
Parra, Ana Hinojosa
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October - December 2023. e-ISSN 2550-6862. pp 1-21
19
making and business management. This reinforces the idea that a substantial portion of
respondents value the relationship between mathematics and financial and business
management.
The results of the question that explores whether mathematics helps respondents
understand and apply geometry concepts in their daily lives reveals that: A small
percentage of respondents (3.6%) strongly disagree with the statement that
mathematics helps them understand and apply geometry concepts in their daily lives.
This may suggest that some participants do not see a direct relationship between
mathematics and the application of geometric concepts in daily life. Another minority
group (12.5%) disagrees with the statement. Although this percentage is higher than in
the previous category, it is still relatively low. There may be different levels of awareness
of how mathematics relates to everyday geometry. A significant proportion of
respondents (21.4%) do not have a clear opinion on whether or not mathematics helps
them understand and apply geometry concepts in their daily lives. This may reflect some
hesitation or lack of certainty about the relationship between mathematics and practical
geometry. A substantial percentage of respondents (46.4%) agree that mathematics
helps them understand and apply geometry concepts in their daily lives. This suggests
that a majority of the participants believe that mathematics has a positive impact on
their understanding and application of geometry in their daily lives. A significant
percentage (16.1%) strongly agree that mathematics helps them understand and apply
geometry concepts in their daily lives. This reinforces the idea that a substantial portion
of respondents value the relationship between mathematics and geometry in their daily
lives.
Finally the question exploring whether respondents believe that having strong math
skills gives them an advantage in the job market reveals that: A small percentage of
respondents (3.6%) strongly disagree with the statement that having strong math skills
gives them an advantage in the job market. This may suggest that some participants do
not see a direct relationship between math skills and advantage in the job arena.
Another minority group (5.4%) disagrees with the statement. Although this percentage
is higher than in the previous category, it is still relatively low. There may be different
opinions on how mathematical skills relate to advantage in the labor market. A
significant proportion of respondents (12.5%) do not have a clear opinion on whether
or not having strong math skills provides a labor market advantage. This may reflect
some hesitancy or lack of certainty about the relationship between math skills and job
success. A substantial percentage of respondents (51.8%) agree that having strong math
skills gives them an advantage in the labor market. This suggests that a majority of
participants consider mathematical skills to be valuable for excelling in the professional
arena. A significant percentage (26.8%) strongly agree that having strong math skills
gives them an advantage in the job market. This reinforces the idea that a substantial
portion of respondents value the relationship between math skills and success in the
job market.
Conclusions
Analysis of Mathematical Significance in Everyday Economics: Exploration of Relevant Data and Findings
Espirales. Revista multidisciplinaria de investigación científica, Vol. 7, No. 47
October - December 2023. e-ISSN 2550-6862. pp 1-21
20
Based on the results drawn from the questions related to the Analysis of Mathematical
Significance in Everyday Economics: Exploration of Relevant Data and Findings and in
keeping with the overall goal of examining and emphasizing mathematical relevance in
various domains of today's society from the perspective of college students, substantial
conclusions emerge:
The findings reflect a widespread recognition among students of the importance of
mathematics in their daily routine, especially in the financial sphere. A majority of
respondents indicated that mathematics is essential to their academic training and
future career path. In addition, a notable percentage of participants consider
mathematics fundamental to making informed decisions, developing critical thinking
skills, and understanding measurements and trends in various fields.
The results also suggest that a significant proportion of respondents are aware of the
presence of mathematical concepts in everyday situations, particularly in relation to
finance. This awareness demonstrates that college students are sensitive to how
mathematics is applied in their daily affairs, from financial management to the
interpretation of economic data. In addition, there is a consensus that mathematics is
valuable for solving problems efficiently and for interpreting statistical data and graphs.
An important finding is that the majority of participants strongly believe that possessing
solid mathematical skills gives an advantage in the labor market, especially in economic
and financial contexts. This perception underlines the importance of mathematics not
only in academic settings, but also in preparation for professional life. In addition,
confidence in the application of mathematical skills in various areas suggests that
students recognize how mathematics contributes to personal development and
problem solving in diverse situations. Taken together, the results obtained in the various
questions reveal a strong and consistent appreciation of the importance of mathematics
in the daily lives of university students, especially in the economic and financial context.
These findings effectively support the overall research objective and highlight how
mathematics plays an integral role in various aspects of contemporary society, especially
in economic decision making.
..........................................................................................................
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