My Math Forum  

Go Back   My Math Forum > Science Forums > Economics

Economics Economics Forum - Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance

LinkBack Thread Tools Display Modes
February 13th, 2014, 02:57 PM   #1
Joined: Feb 2014

Posts: 1
Thanks: 0

Help formulating my finacial situation into a math equation.

So the purpose of this equation is to see if i can have all the factors from all my side work and my job, also the other income source that i have. The other part is it also takes into account stress level. The numbers can be on a 1 to 10 scale as far as stress goes, being factored into the equation. The attached file is the thing i have drawn up because i have no idea where to start or how to even look at this to turn it into a math equation. But i am very interested to see if it can be. In this description i will also be talking about the factors and what they mean more in depth, also i will be adding a different variable to the table.. which is the money earned on a scale of 1 to 10(my opinion/situation with money). Okay so i will go into details about the variables as best i can.

First of all, the two big circles represent me. Everything else represents either income base, stress level factor, and opinions from 2 sources of my income.

For monetary values that are not in the picture i will be showing the value on a scale of 1-10 in ( ) based on my needs of money.

The first big blob is me. The first connection to me represents my primary source of income(income level 10). It has a 0 stress level. The connections to the primary income source(income level 6) deals with multiple clients and also even family members. Stress on those clients is around 1.

Going further down is a 9-3, 9-5, work at home job that is underpaying me. Before the circle is a line that shows the connections i have made through this 9-5 job that i will keep after it gets factored out. It is signified as X and it is the whole reason for this equation. It has a stress level of 9(income level 6)

The variable Z represents all the connections to clients i have made with various different types of work. Stress level on Z is at 3(income level >3)

The primary source is putting more money into me and telling me to quit the other job as you can see from the arrow from the letter Q at the top of the screen.

The 9-5 job is cutting hours and actually becoming less profitable everyday. The KG represents their attitude which is keep going for less money.

so after you factor X out then your only left with a 2-4 stress as apposed to always topping the charts. I would like to see if this would be a complex math equation.
Attached Images
File Type: png Equation.png (27.0 KB, 90 views)
Aristotle is offline  
February 13th, 2014, 07:30 PM   #2
Global Moderator
CRGreathouse's Avatar
Joined: Nov 2006
From: UTC -5

Posts: 16,046
Thanks: 938

Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms
Re: Help formulating my finacial situation into a math equat

I can't follow your chart. It seems like you are describing a choice between two jobs, or trading off hours between the two, in exchange for money and stress, which you rate in ordinal fashion. It's not clear whether 5 stress and 5 money is better or worse than 7 stress and 7 money, for example, but surely 5 stress and 7 money or 3 stress and 5 money would be an improvement. (Mathematicians call these preorders: not all elements can be compared, but when they do they follow the sensible rules.) You could graph this on a 2-D chart and label the tradeoff which causes a particular point. Then you could remove all the points strictly dominated by some other (some combination of x stress and y money such that there is some other point with less than x stress and at least y money, or more than y money and at most x stress) to form what is known as a utility-possibility frontier, a personal version of the reasonably well-known production-possibility frontier. These remaining points give you your best options given the circumstances you face, and trading off between them will depend on your preferences between money and low stress.
CRGreathouse is offline  

  My Math Forum > Science Forums > Economics

equation, finacial, formulating, math, situation

Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
Need help with poker situation ZKesic Advanced Statistics 2 January 8th, 2014 02:05 PM
Formulating a recursive function smcg123 Number Theory 4 January 5th, 2014 06:29 AM
A complex situation icemanfan Math Events 6 May 18th, 2013 05:42 AM
Differential equation for this situation? cheesechallenge Differential Equations 3 May 5th, 2013 11:42 AM
Formulating a surface erencan144 Algebra 2 July 13th, 2011 11:29 PM

Copyright © 2019 My Math Forum. All rights reserved.