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What are FUNCTIONS?

 

downupA function is relation between variables.

Variable  y  is a function of variable  x  if to each value of the variable  x  corresponds one value of the variable  y .  We then write:      y = f(x)

 

The symbol  f( ) stands here for some mathematical expression as for example: 
             f(
x) = x + 1

 

downupFunction can be also called transformation--of one variable into the other--or mapping of one set of numbers into the other. 

The right-hand variable x is sometimes called an independent variable assuming that its values can be changed arbitrarily. The left-hand variable y is then the dependent variable because its value depends on the value of the variable x.

 

 

downupFunctions with one independent variable are called univariate. There are also multivariate functions with several  independent variables.  A multivariate function with n independent variables is written as 

y = f(x1,x2,x3,....,xn)

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OK Economics was designed and it is maintained by Oldrich Kyn.
To send me a message, please use one of the following addresses:

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