Mathematical Modelling

Much of our progress in the last few centuries has made it necessary to apply mathematical methods to real-life problems arising from different fields – be it Science, Finance, Management etc. The use of Mathematics in solving real-world problems has become widespread especially due to the increasing computational power of digital computers and computing methods, both of which have facilitated the handling of lengthy and complicated problems. The process of translation of a real-life problem into a mathematical form can give a better representation and solution of certain problems. The process of translation is called Mathematical Modelling. Here we shall familiaries you with the steps involved in this process through examples. We shall first talk about what a mathematical model is, then we discuss the steps involved in the process of modeling