Average costIn economics, average cost or unit cost is equal to total cost (TC) divided by the number of units of a good produced (the output Q): Average cost has strong implication to how firms will choose to price their commodities. Firms’ sale of commodities of certain kind is strictly related to the size of the certain market and how the rivals would choose to act. Short-run costs are those that vary with almost no time lagging. Labor cost and the cost of raw materials are short-run costs, but physical capital is not.
Johnson boundIn applied mathematics, the Johnson bound (named after Selmer Martin Johnson) is a limit on the size of error-correcting codes, as used in coding theory for data transmission or communications. Let be a q-ary code of length , i.e. a subset of . Let be the minimum distance of , i.e. where is the Hamming distance between and . Let be the set of all q-ary codes with length and minimum distance and let denote the set of codes in such that every element has exactly nonzero entries. Denote by the number of elements in .
CodeIn communications and information processing, code is a system of rules to convert information—such as a letter, word, sound, image, or gesture—into another form, sometimes shortened or secret, for communication through a communication channel or storage in a storage medium. An early example is an invention of language, which enabled a person, through speech, to communicate what they thought, saw, heard, or felt to others. But speech limits the range of communication to the distance a voice can carry and limits the audience to those present when the speech is uttered.
Average fixed costIn economics, average fixed cost (AFC) is the fixed costs of production (FC) divided by the quantity (Q) of output produced. Fixed costs are those costs that must be incurred in fixed quantity regardless of the level of output produced. Average fixed cost is the fixed cost per unit of output. As the total number of units of the good produced increases, the average fixed cost decreases because the same amount of fixed costs is being spread over a larger number of units of output.
Average variable costIn economics, average variable cost (AVC) is a firm's variable costs (labour, electricity, etc.) divided by the quantity of output produced. Variable costs are those costs which vary with the output level: where = variable cost, = average variable cost, and = quantity of output produced. Average variable cost plus average fixed cost equals average total cost: A firm would choose to shut down if the price of its output is below average variable cost at the profit-maximizing level of output (or, more generally if it sells at multiple prices, its average revenue is less than AVC).
Marginal costIn economics, the marginal cost is the change in the total cost that arises when the quantity produced is incremented, the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output.
Hamming boundIn mathematics and computer science, in the field of coding theory, the Hamming bound is a limit on the parameters of an arbitrary block code: it is also known as the sphere-packing bound or the volume bound from an interpretation in terms of packing balls in the Hamming metric into the space of all possible words. It gives an important limitation on the efficiency with which any error-correcting code can utilize the space in which its code words are embedded. A code that attains the Hamming bound is said to be a perfect code.
Upper and lower boundsIn mathematics, particularly in order theory, an upper bound or majorant of a subset S of some preordered set (K, ≤) is an element of K that is greater than or equal to every element of S. Dually, a lower bound or minorant of S is defined to be an element of K that is less than or equal to every element of S. A set with an upper (respectively, lower) bound is said to be bounded from above or majorized (respectively bounded from below or minorized) by that bound.
Hebrew alphabetThe Hebrew alphabet (אָלֶף־בֵּית עִבְרִי, Alefbet ivri), known variously by scholars as the Ktav Ashuri, Jewish script, square script and block script, is traditionally an abjad script used in the writing of the Hebrew language and other Jewish languages, most notably Yiddish, Ladino, Judeo-Arabic, and Judeo-Persian. In modern Hebrew, vowels are increasingly introduced. It is also used informally in Israel to write Levantine Arabic, especially among Druze.
Greek alphabetThe Greek alphabet has been used to write the Greek language since the late 9th or early 8th century BC. It is derived from the earlier Phoenician alphabet, and was the earliest known alphabetic script to have distinct letters for vowels as well as consonants. In Archaic and early Classical times, the Greek alphabet existed in many local variants, but, by the end of the 4th century BC, the Euclidean alphabet, with 24 letters, ordered from alpha to omega, had become standard and it is this version that is still used for Greek writing today.
Cost curveIn economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve. Profit-maximizing firms use cost curves to decide output quantities. There are various types of cost curves, all related to each other, including total and average cost curves; marginal ("for each additional unit") cost curves, which are equal to the differential of the total cost curves; and variable cost curves.
Prefix codeA prefix code is a type of code system distinguished by its possession of the "prefix property", which requires that there is no whole code word in the system that is a prefix (initial segment) of any other code word in the system. It is trivially true for fixed-length code, so only a point of consideration in variable-length code. For example, a code with code words {9, 55} has the prefix property; a code consisting of {9, 5, 59, 55} does not, because "5" is a prefix of "59" and also of "55".
Deseret alphabetThe Deseret alphabet (ˌdɛzəˈrɛt; Deseret: or ) is a phonemic English-language spelling reform developed between 1847 and 1854 by the board of regents of the University of Deseret under the leadership of Brigham Young, the second president of the Church of Jesus Christ of Latter-day Saints (LDS Church). George D. Watt is reported to have been the most actively involved in the development of the script's novel characters, which were used to replace those of Isaac Pitman's English phonotypic alphabet.
Maximum entropy probability distributionIn statistics and information theory, a maximum entropy probability distribution has entropy that is at least as great as that of all other members of a specified class of probability distributions. According to the principle of maximum entropy, if nothing is known about a distribution except that it belongs to a certain class (usually defined in terms of specified properties or measures), then the distribution with the largest entropy should be chosen as the least-informative default.
Universal code (data compression)In data compression, a universal code for integers is a prefix code that maps the positive integers onto binary codewords, with the additional property that whatever the true probability distribution on integers, as long as the distribution is monotonic (i.e., p(i) ≥ p(i + 1) for all positive i), the expected lengths of the codewords are within a constant factor of the expected lengths that the optimal code for that probability distribution would have assigned.
Normal distributionIn statistics, a normal distribution or Gaussian distribution is a type of continuous probability distribution for a real-valued random variable. The general form of its probability density function is The parameter is the mean or expectation of the distribution (and also its median and mode), while the parameter is its standard deviation. The variance of the distribution is . A random variable with a Gaussian distribution is said to be normally distributed, and is called a normal deviate.
International Phonetic AlphabetThe International Phonetic Alphabet (IPA) is an alphabetic system of phonetic notation based primarily on the Latin script. It was devised by the International Phonetic Association in the late 19th century as a standardized representation of speech sounds in written form. The IPA is used by lexicographers, foreign language students and teachers, linguists, speech–language pathologists, singers, actors, constructed language creators, and translators.
Bernoulli distributionIn probability theory and statistics, the Bernoulli distribution, named after Swiss mathematician Jacob Bernoulli, is the discrete probability distribution of a random variable which takes the value 1 with probability and the value 0 with probability . Less formally, it can be thought of as a model for the set of possible outcomes of any single experiment that asks a yes–no question. Such questions lead to outcomes that are boolean-valued: a single bit whose value is success/yes/true/one with probability p and failure/no/false/zero with probability q.
Arabic scriptThe Arabic script is the writing system used for Arabic and several other languages of Asia and Africa. It is the second-most widely used alphabetic writing system in the world (after the Latin alphabet), the second-most widely used writing system in the world by number of countries using it or a script directly derived from it, and the third-most by number of users (after the Latin and Chinese scripts). The script was first used to write texts in Arabic, most notably the Quran, the holy book of Islam.
Least-upper-bound propertyIn mathematics, the least-upper-bound property (sometimes called completeness or supremum property or l.u.b. property) is a fundamental property of the real numbers. More generally, a partially ordered set X has the least-upper-bound property if every non-empty subset of X with an upper bound has a least upper bound (supremum) in X. Not every (partially) ordered set has the least upper bound property. For example, the set of all rational numbers with its natural order does not have the least upper bound property.
