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March 3, 2021 

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SLOPE: A measure of the flatness or steepness of line. It can be thought of as the 'rise' over the 'run', that is the change in the variable on the vertical axis (rise) divided by the change in the variable on the horizontal axis (run).

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AVERAGE PROPENSITY TO CONSUME

The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.

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A Perfect Picture Of PROFIT

Good news! Manny Mustard, my long-time friend and proprietor of Manny Mustard's House of Sandwiches is having a special on his Deluxe Club Sandwich. Let's drop in for a brief respite -- and lunch. More good news! Manny is bubbling profusely about the vitality of his business. Last month he turned a profit. Yes, that much cherished profit, the goal of business firms, be they large or small. Upon closer inspection Manny's profit calculation might be suffering from an oversight or two. It seems as though Manny neglected to pay himself a wage. Nor did he bother to include any interest expense on the savings he invested in his House of Sandwiches venture. But what the heck, he earned a profit -- didn't he?
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for door-to-door salesmen.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Success is liking yourself, liking what you do, and liking how you do it."

-- Maya Angelou, Poet and Author

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Central Limit Theorem
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