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Wolfram Mathematica
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t = 3 gives another
x(t)
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which tells us how quickly y is changing. In the pumpkin example
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t is the parameter. Let's see what happens as t changes. t
the consumer's chosen combination moves from one point to another. The resulting path can be viewed as a parametric curve. The important insight The parameter is not necessarily time. Here
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we describe both x and y in terms of another variable. That variable—the parameter—allows us to describe not only where a system is
time can determine how advertising expenditure and sales evolve together. In finance
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t = 2 gives one point
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two marketing campaigns might eventually reach the same advertising expenditure and sales values
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y(t)) where t is time. Its horizontal position might be: x(t) = 0.5t and its vertical position: y(t) = 90 + 0.2t − 4.9t² At each moment
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we get a particular combination of coffee and tea. For example: Price of coffee
the corresponding risk and expected return change. Mathematically
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they can seem like an abstract mathematical technique. We are introduced to equations such as x(t) and y(t)
y(t)
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the investor changes their portfolio allocation. As the allocation changes
these represent velocity components. But in business
time determines the pumpkin's horizontal and vertical position. In economics
usually represented by t. For example: x(t) = 2t y(t) = t² Here
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