difference equation
"Difference equations" are essential in modeling discrete-time systems across various fields like economics, population dynamics, and signal processing.
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Definition
C1Mathematics
(technical, academic)A mathematical formula that defines the relationship between successive values of a function of a discrete variable.
Example
- The difference equation y_{n+1} = 0.3y_n + 1000 models a system where the next value depends on 30% of the current value plus a constant.
C1Time Series Analysis
(technical, academic)A recursive relation that defines a sequence in terms of its previous terms.
Example
- Economists use difference equations to forecast future values based on past data.
Similar
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