Types of Data - Problems & Solutions

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Mathematical Methods for Economics I

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What is a Set? A set is a group or collection of well-defined and distinct objects. These objects are called the elements or members of the set. Set theory was developed by Georg Cantor, a German mathematician. • A set is usually named using capital letters: A, B, C… • Elements are written in lowercase letters inside curly brackets: {a, b, c} If x is in set A, we write: x ∈ A If y is not in set A, we write: y ∉ A Example: Let A = {a, e, i, o, u} → the set of vowels in English. Ways to Represent a Set 1. Roster (Tabular or Listing) Method: This is a method of describing a set by listing each element of the set inside the symbol { }. In  listing the elements of the set, each distinct elements is listed once and the order of the elements does not matter. Example: Colors of a rainbow: A = {red, orange, yellow, green, blue, indigo, violet} 2. Set-Builder (Rule) Method: It is a method that lists the rules that determine whether an object is an element of the set rather than the actual el...
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