Statistics Introduction

Statistics can refer to numerical facts or its field of study: a group of methods used to collect, analyse, present, and interpret data and to make decisions. Decisions made by using statistical methods are called educated guesses. Like other fields of study, statistics has two aspects: theoretical and applied. Firstly, theoretical statistics deals with the … Continue reading Statistics Introduction

Functions of Many Variables

Functions with more than one independent variable. y=f(x) => one independent variable. Not just price, but incomes, ect. are independent. z=f(x, y)     Here, z = dependent, x & y = independent. Example: z=100-2x+5y z=3×2-9y z=e2x+3y     Expediential fn. Example 1: z=150-2x-3y X-Intercept  (z=0, y=0) 0= 150-2x-3(0) => x=150/2 =75       (75, 0, 0) Y-Intercept  (x=0, z=0) 0= … Continue reading Functions of Many Variables

Derivatives & Differentiation – Introduction

“Government regulations generally limit the number of fish taken from a given fishing ground by commercial fishing boats in season.” (Haeussler, Paul, & Wood, 2008) This assumes market failure and that governments can predict fish depletion more accurately than fisheries can, in order to ensure there are adequate levels of fish to be sustainable in … Continue reading Derivatives & Differentiation – Introduction

Functions, Graphs, & Equations – Examples

Straight Line and Linear Equations The two lines represent the equations 4x-6y=-4 and 2x+2y=6. Because the graphs of 4x-6y=12 and 2x+2y=6 are straight lines, its linear. y=3x+25           y=  f(x) = mx+c   f(x) represents a functional relationship to units sold, not specifying fn explicitly. mx+c  represents a generalized version, m is the coefficient, though m and … Continue reading Functions, Graphs, & Equations – Examples

Functions, Graphs, & Equations – Introduction

A function is a relation from inputs to possible outputs where each input is related to exactly one output, basically it is a rule that transforms numbers to other numbers. Functions show the relationships between different quantities. A real world example of a function would be taking a particular item say bread and relate it to other objects such … Continue reading Functions, Graphs, & Equations – Introduction