Can somebody suggest a real life problem that is solved using Taylor Polynomial Error Bounds?
Real life application of Taylor Polynomial Error Bounds?
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calculus
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0Well, suppose you are taking an integral, but it was so lengthy you did not want to check if your solutions was reasonable. A quick "Taylor" check works wonderfully. (*cough* happens to me all the time) – 2017-01-03
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0The Black-Scholes option valuation model amounts to a 2nd order Taylor approximation for the financial options market. But, in order to keep your marks correct as the market moves, and "the greeks" drift, it is important to know your error bounds, too. – 2017-01-03