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The change-making problem addresses the question of finding the minimum number of coins (of certain denominations) that add up to a given amount of money. It is a special case of the integer knapsack problem , and has applications wider than just currency.
Thus, on the official website of the Clay Mathematics Institute, these seven problems are officially called the Millennium Problems. To date, the only Millennium Prize problem to have been solved is the Poincaré conjecture. The Clay Institute awarded the monetary prize to Russian mathematician Grigori Perelman in 2010.
A mathematical problem is a problem that can be represented, analyzed, and possibly solved, with the methods of mathematics.This can be a real-world problem, such as computing the orbits of the planets in the solar system, or a problem of a more abstract nature, such as Hilbert's problems.
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.
Many mathematical problems have been stated but not yet solved. These problems come from many areas of mathematics, such as theoretical physics, computer science, algebra, analysis, combinatorics, algebraic, differential, discrete and Euclidean geometries, graph theory, group theory, model theory, number theory, set theory, Ramsey theory, dynamical systems, and partial differential equations.
The St. Petersburg paradox or St. Petersburg lottery [1] is a paradox involving the game of flipping a coin where the expected payoff of the lottery game is infinite but nevertheless seems to be worth only a very small amount to the participants. The St. Petersburg paradox is a situation where a naïve decision criterion that takes only the ...
A differential equation is an equation involving an unknown function and its derivatives. In a dynamical system, a fixed rule describes the time dependence of a point in a geometrical space. The mathematical models used to describe the swinging of a clock pendulum, the flow of water in a pipe, or the number of fish each spring in a lake are ...
The Kissing Number Problem. A broad category of problems in math are called the Sphere Packing Problems. They range from pure math to practical applications, generally putting math terminology to ...