Describe an example of significant applications of mathematics to commerce, scie

Question

Describe an example of significant applications of mathematics to commerce, science, and general life. Pick an example from each commerce, science and general life but make sure that each example is from a different time period. Explain the example, how mathematics contributed to its discovery and the value it played in the lives of the people of that time period.

(This is a Math History question and has been answered twice on here, but they are the same answer and wrong, so please don't copy and paste it.)

Explanation / Answer

Applications of mathamatics in commerce :

Understanding basic math is very necessary for profitable operations and accurate record keeping. Mathamatics ease the calculations , record keeping, finance forcasting etc.

Without mathamatics , commerce is nothing because commerce is the field where we need record , tabulations , comparisons , calculations etc.

Some examples of mathamatics application in this field are :

(1)Calculate Production costs

Before formally establishing a business , one must estimate the cost to manufacture or acquire products.

(2) Determining pricing :

Mathamatics allow us to measure profit out of the production and hence ot eases the business owner to provide appropriate pricing which results in profit to the organisation. Without mathamatics it could not be possible to determine pricing as efficiently as of now.

(3) Analyze Finances :

To analyze the overall financial health of the business , we will need to project the revenue and expenses for the future.

Applications of mathamatics in science :

Almost every model in science or every innovations require mathamatical model and theoritical calculations. Without mathamatics it was very much time consuming and less efficient. There are a lot of relationships and hence calculus makes a huge difference and ease the calculations as well as predictions.

For example :

In a graph of distance vs time, Velocity is the derivative. Derivatives describe the rate of change at points on graph .

When chemicals react with each other , calculations about rates at which they react involve calculus.

Applications of mathamatics in general life :

In daily life , we need a lot of calculations and record making as well.

For example , we need to calculate our daily expenses and also forcast the monthly expenses on the basis of previous months records.

Mean , mode and median concept of mathamatics make revolutions in daily life mathamatics and makes life easier in the form of ease calculations.

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