equation

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equation

a means of portraying arithmetically the relationship between VARIABLES. For example, the equation: C = 1,000 + 0.9Y suggests a particular relationship between consumer expenditure (C) and disposable income (Y), which would be true for certain values of C and Y (such as 10,000 and 10,000 respectively) but not true of other values of C and Y (such as 6,000 and 10,000 respectively). Equations are generally written with a two-bar equals sign (=), with the value to the left of the sign being equal to the value to the right of the sign. The validity of an equation can be tested statistically by collecting paired observations of the variables involved and testing whether or not these observations conform with the equation formulated. See IDENTITY.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
He called this the personal equation, and later astronomers determined that the differences are produced by psycho-physiological variables such as visual acuity, reaction time, and eye-hand coordination.
Speaking on the occasion the 40-year old actress said, "Charity is a very personal equation, like we say charity begins at home.
The BJP is confident, though, that Jayalalith will be onboard considering her personal equation with Narendra Modi.
I don't have any personal equation with her though," he added.
Their personal equation as romantic partners aside, any pair is likely to go through such a phase because Jagga Jasoos is easily one of Bollywood's most laborious films to have been made.
Nath's personal equation with both Mulayam and Mayawati clearly helped in bailing out the Congress.
Gandhi will also try to use her personal equation with Banerjee to win over the rift that has been created by the Congress party aligning with the Communist Party of India-Marxist (CPM).

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