Statistics – IV
| 1 | Differentiation Differentiation and integration can help us solve many types of real-world problems. We use the derivative to determine the maximum and minimum values of particular functions (e.g. cost, strength, amount of material used in a building, profit, loss, etc.) |
| 2 | Application of Derivatives We use the derivative to determine the maximum and minimum values of particular functions (e.g. cost, strength, amount of material used in a building, profit, loss, etc.) |
| 3 | Index Numbers Index number of prices is a method through which we can measure changes in the price level over time. This means that whether a country faces inflation or deflation can be known from the index number of prices |
| 4 | Time Series Time Series is a sequence of well-defined data points measured at consistent time intervals over a period of time. … Time series analysis is the use of statistical methods to analyze time series data and extract meaningful statistics and characteristics about the data For Example, predicting future demand based on past sales on particular time. |