"A theory has only the alternative of being right or wrong. A model has a third possibility: it may be right, but irrelevant."
A system consists of an abstract idea, design, mathematical integrant that can help to describe the situation, study the impact of different integrant, and avidly predict the functioning of a machine or natural phenomena is called a Mathematical Model. The process of developing a mathematical model is called Mathematical Modeling.
Mathematical Models are present everywhere; it could be a set of linear equations or algebraic equations or differential equations. It may be of any form such as Linear or Nonlinear, Static or dynamic, Lumped or distributed. One can find its applications: