Business Mathematics

When it comes to business mathematics, permutations and combinations are two of the most important concepts to understand. In this blog post, we will discuss the basics of the two, including how to calculate them and the differences between the two. We’ll also provide some examples so you can see how these concepts work in […]

Before we begin to understand permutation and combination in-depth, it is very necessary to understand the meaning of the two words individually. Permutation can be defined as different methods using which the objects can be arranged in a defined order. In other words, when the items that are arranged in an ordered set are rearranged

Introduction: An objective optimization problem seeks the best solution to the current benchmark or criterion, such as processing time or effectiveness, or a mixture of this measurement system with power consumption or power handling metrics.  Mathematical programming selects the appropriate component from several alternatives depending on some criterion. constrained optimization problems of various kinds emerge

A degree two polynomial equation is called a quadratic equation. The basic form of a quadratic equation can be represented as ax2+ bx+c=0, where a, b and c are considered to be real numbers and the coefficients of the variable x2.ie.,  a is not equal to 0. A quadratic equation will invariably has two roots.

Introduction: The increasing and decreasing functions in business mathematics are the objective life process understood in the form of variables and formulas. In these functions, the variables control the entire process of increasing and decreasing. It is more relative to the rate of change of behaviour in different intervals. The functions are the critical parts responsible for

Introduction Complex numbers are imaginary numbers, and the complex plane represents these numbers. Among the two forms of these numbers, one form is z = a + bi, where i is the square root of -1 (i =√−1), and a and b are real numbers. In another form, z=reiθ, r = modulus and θ =

Permutation (shortened as p(n,r)) and combination (abbreviated as c(n,r)) are methods for representing a collection of things by picking them from a set and dividing them into subsets. It specifies the numerous methods for organizing a set of data. Permutations are used to pick data or objects from a group, whereas combinations are used to

The maxima value of the function, which is f(x) , is all the junctures on the function graph, which are known as local maximums. When we shift a small percentage to the left side, the juncture where x corresponds to a is a local maximum that is the juncture where x is less than a

Introduction In easy words, we can say about marginal and conditional distributions, the marginal probability is the likelihood of a single event occurring in the absence of any other events. A conditional probability, on the other hand, is the likelihood that an event will occur if another event has already occurred. Conditional distribution A conditional

Marginal revenue is calculated by dividing the total revenue change by the change in total output quantity. Hence, Marginal Revenue is the sale value of a single additional item sold. Introduction: The increase in revenue caused by the sale of one more additional output unit is referred to as marginal Revenue (MR). If the Marginal