comparative statics is a comparative study of economic conditions at two equilibrium positions under two static conditions at two different points in time. in a comparative static analysis, in fact, we are comparing the equilibrium values of the system corresponding to the two equilibrium positions with one another. this sort of comparative analysis of two equilibrium positions may be described as comparative static analysis.
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Start with examples like flipping a coin, rolling a die or spinning a dreidel. Then explain in terms they understand. That depends very much on the age of the child.
once an equation for a regression is derived it can be used to predict possible future
Infinity is the concept of something that never ends. Obvious examples of this can be found in mathematics. A simple one would be "Limn→0 1/n".
The answer is that I would try to find out what he understands about rounding and then explain the concept of rounding through examples that he can identify with.