👉 The lowest limit.
Alright class, settle down and let’s take a look, At a word that’s simple, but needs a little hook! “Minimum,” you see, is quite the key, It means the lowest – for all to agree! Like when we say “the minimum score,” It's the very least, nothing more. Think of a line, stretched long and thin, The minimum point? Where it begins! It’s the smallest amount, you understand, The lowest limit in this land! Does that make sense to you today? Any questions before we move along?
👉 Minimum variance of a variable, which is the smallest sum of squared deviations from the mean.
👉 Minimums are values at which a quantity is less than or equal to another quantity, typically used in economics and finance. In these contexts, they refer to the lowest price or value that can be obtained by selling a product or service, without considering profit margins or other factors. They are often used to compare prices of similar items or services when there are multiple options available.
