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Unformatted text preview: what factors are important! Did we not use mathematical tools earlier? Look at some of the examples – Find the height of a tower, say the Kutub Minar in New Delhi (without climbing it!). Find the mass of the Earth. Estimate the yield of rice in India from the standing crop Find the volume of blood inside the body of a person Dosage of a drug Estimate the population of the year 2500 A.D (without actually waiting till then!). So why this emphasis on Mathematical Models now? Advent of computers and development in computing skills. Use of mathematical tools to solve real world problems, which were earlier intractable. Many new areas are utilizing mathematic tools, e.g social sciences, biology, chemistry, natural sciences, etc. Thus, it is clear that much of modern science involves mathematical modelling. Scientists use mathematics to describe real phenomena, and in fact much of this activity constitutes mathematical modelling. As computers become cheaper and powerful and their use becomes more widespread, mathematical models play an increasingly important role in science. From a business perspective, it is clear that an improved ability to sim...
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