Business Mathematics

CHAPTER 3

Theory of Sets and Its Business Applications

Set theory plays a vital role in modern mathematics and it is used in other disciplines also.

3.1  SET THEORY

A set S is a collection of definite and well-defined objects. These objects are called elements of the set.

3.2  REPRESENTATION OF SETS

The representation of a set can be done in two ways:

1. Tabulation Method
2. Set Builder Method/Rule Form

3.2.1  Tabulation Method

The individual elements of a set are listed and separated by using commas and enclosed within brackets.

EXAMPLE

A set of natural numbers less than seven is represented as A = {1, 2, 3, 4, 5, 6}

3.2.2  Set Builder Form

The set is described by stating a common property of its member.

EXAMPLE

The set of odd numbers less than ...