TOPIC: Introduction to Quantitative Methods

PLEASE GIVE ANSWER ACCORDING TO GIVEN REQUIREMENT BELOW:

REQUIREMENT:

Diagr@ms are an effective and efficient meth0d of c0nveying information. It is necessary to include di@grams where relevant to illustrate your discu$sion. M@ke sure that you incorporate these diagrams fully with answer given below. In other w0rds make sure refer to them in your text. Inf0rmation should be drawn from re$pected reputable academic sources such as textbooks and academic journals, and reports from economic think tanks. Give reference$ in the end.

SOLUTION:

Simplifying numbers in standard form:

Any number can be expressed as a decimal number 1.0 and 10.0 including 1.0 multiplied by a power of 10. Such a form of a number is called its Standard Form.

Step 1: First of all count the number of digits from left leaving only the first digit.

Step 2: To write it in exponent or standard form, write down the first digit.

Step 3: If there are more digits in the number then put a decimal after the first digit and then write the other digits until zero comes.

Step 4: Now place a multiplication sign and write down the counted digits in the first step as an exponent to the base 10.

Let's consider a whole number of 50,000. To write it in its standard form,

Write the first digit-5.

Count the number of digits after the initial digit and multiply 10 to the power of that number.

Answer: 5*10⁴

The standard form of a decimal number is also known as scientific notation. It involves expressing a given decimal number by its first digit followed by a decimal point and its remaining digits, multiplied by a power of 10 such that it is equivalent to the original value. For example, the number 4359.892 written in the standard form of a decimal would be:

4.359892 10³

Multiply 85000 and 2000 and return the result in standard form,

85000 = 8.5*10⁴

2000 = 2*10³

Therefore, 85000 * 2000 = 8.5 * 10⁴ *2*10³ =17*10⁷ = 1.7*10⁸

Divide 20000 by 500 and return the result in standard form,

20000 = 2*10⁴

500 = 5*10²

20000/500 = 2*10⁴/5*10² = 0.4*10² = 4*10