Notes on lesson on Mathematics used in Economics |

Mathematics used in Economics

Law of indices, logarithms and its rules and uses, Solution of equation and Equation of straight line


Indices, Logarithm and Equations

Any algebraic term has basically three components: base, coefficient and power. The extensions of the meanings of indices to all kinds of numbers has great importance in practice because instead of the process of multiplication of the numbers

Measure of Central Tendency

The most common measures of central tendency are the arithmetic mean, the median and the mode. A central tendency can be calculated for either a finite set of values or for a theoretical distribution, such as the normal distribution.