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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.
An equation consisting of a differential coefficient is called a 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.
If u and v are functions of the two independent variables x and y , then the determinant, is known as the jacobian of u and v with respect to x and y.
Simpson’s rules are very useful in numerical integration to evaluate such integrals.
To test the hypothesis, we draw a sample from a large population and make certain decisions about the population
Bayes theorem describes the probability of an event, which is based on prior knowledge conditions related to the events.
The concept of sets is widely used in mathematics as well as in other fields such as engineering, computer sciences etc.
Moments are the statistical tools used to describe the characteristics of a distribution. moments are the arithmetic means of first, second, third and fourth.
If we get a square matrix from an identity or unit matrix by using any single elementary transformation is called elementary matrix.There are two types of echelon form of a matrix.