DEFINITION OF MODELLING
Modelling in Mathematics is the application of mathematics to real life situations.
USES OF MODELLING IN MATHEMATICS
- Industry
- Commerce
- Government
- Weather forecasting
- Health institution
- Educational institutions etc.
AREAS MOSTLY USED OF MATHEMATICAL MODELLING
- Predictions of population growth
- Financial business (stock trading)
- War and conflicts
- The spread of deceases and epidemics.
MODEL: Model in Mathematics is a concept that represents a real life situation. This is developed to help in the understanding of the physical phenomena, such as: to make observations, collections of data and to carry out an experiment.
EXOGENOUS VARIABLE: These are independent variable that affects a model without being affected by it, and whose qualitative characteristics and method of generation are not specified by the model builder. An exogenous variable is used for setting arbitrary external conditions and not in achieving a more realistic model behavior.
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