The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability.
Definition of simulate. simulated. ; simulating. transitive verb. 1 : to give or assume the appearance or effect of often with the intent to deceive : imitate. 2 : to make a simulation of (as a physical system)
Math modelling is the act of creating functions or equations that describe a given application or situation. In this course we mainly concentrate on business-oriented ideas such as break-even analysis or depreciation. --Matrix algebra. Matrices are collections of numbers organized in rectangular arrays.