Definition:Mathematical Model

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Definition

A mathematical model is an equation, or a system of equations, whose purpose is to provide an approximation to the behavior of a real-world phenomenon.


Constant

Let $P$ be a stochastic process which is being modelled by means of a model $M$.

A constant of $M$ is a number which implements some aspect of $P$ which is not changed during the evolution of $P$.


Parameter

Let $P$ be a stochastic process which is being modelled by means of a model $M$.

A parameter of $M$ is a number which implements some aspect of $P$ which is designed so as to be able to be modified during the evolution of $P$ as a result of analysis of the behaviour of $P$ over time.


Also see

  • Results about mathematical models can be found here.


Sources