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In United States patent law, utility is a patentability requirement. [1] As provided by 35 U.S.C. § 101, an invention is "useful" if it provides some identifiable benefit and is capable of use and "useless" otherwise. [2]
The same term can also be used more informally to refer to something "standard" or "classic". For example, one might say that Euclid's proof is the "canonical proof" of the infinitude of primes. There are two canonical proofs that are always used to show non-mathematicians what a mathematical proof is like:
Thesaurus Linguae Latinae. A modern english thesaurus. A thesaurus (pl.: thesauri or thesauruses), sometimes called a synonym dictionary or dictionary of synonyms, is a reference work which arranges words by their meanings (or in simpler terms, a book where one can find different words with similar meanings to other words), [1] [2] sometimes as a hierarchy of broader and narrower terms ...
A sanity test can refer to various orders of magnitude and other simple rule-of-thumb devices applied to cross-check mathematical calculations. For example: If one were to attempt to square 738 and calculated 54,464, a quick sanity check could show that this result cannot be true. Consider that 700 < 738, yet 700 2 = 7 2 × 100 2 = 490,000 ...
These methods offer a suggested range for the calculation of materiality. Based on the audit risk, the auditor will select a value inside this range. [15] [failed verification] 0.5% to 1% of gross revenue; 1% to 2% of total assets; 1% to 2% of gross profit; 2% to 5% of shareholders' equity; 5% to 10% of net profit.
A back-of-the-envelope calculation is a rough calculation, typically jotted down on any available scrap of paper such as an envelope. It is more than a guess but less than an accurate calculation or mathematical proof. The defining characteristic of back-of-the-envelope calculations is the use of simplified assumptions.
The formal calculation implies that the last equation must be valid in those contexts. Another example is obtained by substituting q=-1. The resulting series 1-1+1-1+... is divergent (over the real and the p-adic numbers) but a value can be assigned to it with an alternative method of summation, such as Cesàro summation. The resulting value, 1 ...
The LGD calculation is easily understood with the help of an example: If the client defaults with an outstanding debt of $200,000 and the bank or insurance is able to sell the security (e.g. a condo) for a net price of $160,000 (including costs related to the repurchase), then the LGD is 20% (= $40,000 / $200,000).