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The negative slope of the indifference curve incorporates the willingness of the consumer to make trade offs. [9] If two goods are perfect substitutes then the indifference curves will have a constant slope since the consumer would be willing to switch between at a fixed ratio. The marginal rate of substitution between perfect substitutes is ...
Pearson's correlation coefficient is the covariance of the two variables divided by the product of their standard deviations. The form of the definition involves a "product moment", that is, the mean (the first moment about the origin) of the product of the mean-adjusted random variables; hence the modifier product-moment in the name.
The simplest case of a normal distribution is known as the standard normal distribution or unit normal distribution. This is a special case when and , and it is described by this probability density function (or density): The variable has a mean of 0 and a variance and standard deviation of 1.
Euclidean distance. In mathematics, the Euclidean distance between two points in Euclidean space is the length of the line segment between them. It can be calculated from the Cartesian coordinates of the points using the Pythagorean theorem, and therefore is occasionally called the Pythagorean distance. These names come from the ancient Greek ...
The grade (US) or gradient (UK) (also called stepth, slope, incline, mainfall, pitch or rise) of a physical feature, landform or constructed line refers to the tangent of the angle of that surface to the horizontal. It is a special case of the slope, where zero indicates horizontality. A larger number indicates higher or steeper degree of "tilt ...
A finite regular continued fraction, where is a non-negative integer, is an integer, and is a positive integer, for . A continued fraction is a mathematical expression that can be writen as a fraction with a denominator that is a sum that contains another simple or continued fraction. Depending on whether this iteration terminates with a simple ...
An increase of $0.15 on a price of $2.50 is an increase by a fraction of 0.15 / 2.50 = 0.06. Expressed as a percentage, this is a 6% increase. While many percentage values are between 0 and 100, there is no mathematical restriction and percentages may take on other values. [4]
Each curve passes through the point (0, 1) because any nonzero number raised to the power of 0 is 1. At x = 1, the value of y equals the base because any number raised to the power of 1 is the number itself. In mathematics, exponentiation is an operation involving two numbers: the base and the exponent or power.