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compound interest is calculated on interest as well as on principal. Therefore, compound interest is sometimes described as ‘interest on interest’.
Linear programming problems having two variables can be easily solved by a graphical method which provides a pictorial representation of the solution and we get insights into the basic concept used in solve LPP.
Probability theory: In many real life situations when we are unable to forecast the future with complete certainty. That is, in many decisions, we face the uncertainty. This leads to the study and use of the probability theory.
Integration is the reverse process of differentiation. It is also called anti-differentiation.
Sequencing problems deals with the selection of an optimum order for the number of jobs to be performed with a finite number of facilities.
A distribution is said to be a binomial distribution if the following conditions are met. 1. Each trial has a binary outcome (One of the two outcomes is labeled a ‘success’)
Basically correlation is the measurement of the strength of a linear relationship between two variables say x and y.
An equation consisting of a differential coefficient is called a differential equation.
When one task is to be assigned to one person in such a way that the total person hours are minimized, then this kind of problem is known as assignment problem.
In calculus, the definite and indefinite integrals are the types of integration used to integrate the functions. The function can be exponential, power, logarithmic, constant, polynomial, or linear. These types of integral are used frequently to determine the area under the curve.
The regula-falsi method is the oldest method of finding the approximate numerical value of a real root of an equation f(x) = 0.
An equation consisting differential co-efficient is called a differential equation. There are two types of differential equations.
Integration is the reverse process of differentiation. It is also called anti-differentiation.
Fourier series which is now used in various problems related to vibrations and heat transfer (Heat equation, which is a type of partial differential equation).
A function f(x) is said to be periodic function if f(x + T) = f(x) for all real x and some positive number T.
An equation consisting of a differential coefficient is called a differential equation.
The inverse of a matrix is the same idea. If there is a matrix A then its inverse is written as A-1.