How to present participation in undergraduate research experience programs on CV when applying for jobs in industry?
As a general note, do not use so many contractions and abbreviations. Writing terms out in full, at least the first time you use them, will never be wrong and may save a reader some time and effort.

You need to think of your resume in terms of what it tells the expected reader about your suitability for the job you are seeking. 

Don't try to explain the subject matter of your research project "to a layperson". If the project does relate to a potential job, the hiring manager will either be a mathematician who understands the area, or will have mathematicians who understand the area on their technical staff, or at least will have arranged to consult a suitable mathematician on the hiring decision. If it does not relate, the reader of the resume probably does not care what the project was actually about.

A research project may tell a potential employer other things about you. Can you work independently on a specified problem? Can you write a coherent, readable report? Is your work good enough to lead to being accepted for a research project at a high prestige institution?