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Partial Derivatives
Partial derivatives are used while we want to investigate the effect of one independent variable on dependent variable. For illustration, the revenues of a farmer may depend on two variables that is; the amount of fertilizer applied and as well the type of the natural soil.
Assume ∏= 30x2y + y2 + 50x + 60y
Whereas ∏ = annual revenue in £ '000'
x = type of soil
y = amount of fertilizer applied
Variance Consider the example of investment opportunities. The expected gains were Rs.114 and Rs.81 respectively. The fact is that an investor also looks at the dispersion befo
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Game Theory It is used to find out the optimum strategy in a competitive condition,While two or more competitors are engaged in making decisions, this may occupy conflict of in
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