Role of Mathematics in business and economics

Upper Level Math
asked 2021-02-03
Role of Mathematics in business and economics

Answers (1)

Step 1
The use of advanced mathematics can make business models more effective and efficient.
Step 2
Mathematics can be applied in business operations such as inventory management, accounting, financial analysis, and financial forecasting.
Advanced mathematics such as calculus, linear programming, matrix, algebra, trigonometry, etc can be used in various business models.
In economics, quantitative methodologies rely on many mathematical models and equations, to create charts, forecast analysis, big data techniques, etc.
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