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6.4: Linear Approximations
In this subunit, you will learn how to estimate future data points based on what you know about a previous data point and how it changed at that particular moment. This concept is extremely useful in the field of economics.
Watch this video until 39:00. Beyond 39:00, Jerison discusses quadratic approximations to functions, which are in a certain sense one step beyond linear approximations. If you are interested, please continue viewing the lecture to the end.