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Sigma notation, often referred to as summation notation, can be used in many common situations. For example, it can be used to calculate the sum of deposits for a bank account. Banks add together all deposits and withdrawals to determine the current balance.
The concept of sigma notation means to sum up all terms and uses three parts to form math statements, like âi ai. The Greek letter â is the summation operator and means the sum of all, i is called the index number, and ai refers to a series of terms to be added together.