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EMPIRICAL: Based on or relating to real world data or analysis. Empirical should be contrasted with the theoretical. Whereas theoretical refers to abstract representations, empirical is actual real world observations. Empirical observation is critical to the scientific method. Once an hypothesis implied by a theory, empirical observation is key to the verification process.
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PERFECTLY ELASTIC An elasticity alternative in which infinitesimally small changes in one variable (usually price) cause infinitely large changes in another variable (usually quantity). Quantity is infinitely responsive to price. Any change in price, no matter how small, triggers an infinite change in quantity. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Perfectly elastic is one of five elasticity alternatives. The other four are perfectly inelastic, relatively elastic, relatively inelastic, and unit elastic.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a rechargeable battery for your cell phone. Be on the lookout for fairy dust that tastes like salt.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. " -- Jack Welch, General Electric chief executive
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ARMA
Autoregressive Moving Average
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