Many statistical and mathematical models of growth are developed in the literature and effectively applied to various conditions in the existent world involves many research problems in the different fields of applied statistics. Nevertheless, still, there are an equally a large number of conditions, which have not yet been mathematically or statistically modeled, due to the complex situations or formed models are mathematically or statistically inflexible. The present study is based on mathematical and stochastic growth models. The specification of both the growth models is depicted. A details study of newly modified growth models are mentioned. This research will give substantial information on growth models, such as proposed modified exponential growth models and it’s specifications clearly motioned which gives scope for future research.
Mathematical Models are classified according to their topic area. Mathematical Models in Physics (Mathematical Physics), Mathematical Models in Chemistry (Theoretical Chemistry), Mathematical Models in Medicine (Mathematical Medicine), Mathematical Models in Economics (Mathematical Economics and Econometrics), Mathematical Models in Psychology (Mathematical Psychology), Mathematical Modeling in Engineering (Mathematical Engineering), and so on.
We can also divide Mathematical Models according to the mathematical techniques using in solving them. Like Mathematical Modeling with Classical Algebra, Linear Algebra and Matrixes, and Integral Equations Mathematical modelling using integro-differential equations, as well as mathematical modelling using differential-differential equations. Mathematical modelling based on the maximal principle, that we have Mathematical modeling through ordinary and partial difference equation, etc.
II. REVIEW OF LITERATURE
It is observed that during the past decade the make use of Logistic Growth and Exponential Growth modeling have explored from their original acceptance in epidemiologic research. These growth models are now normally explored in numerous fields. They are not limited only to Biomedical Research, Business and Finance, Criminology, Ecology, Engineering, Forestry, Demography and others. At the same time there has been an identical amount of endeavor in research on all Stochastic aspects of the Exponential growth models too.It is found the Logistic Curve has certain properties which make it useful for the pragmatic representation of development phenomena. Commonly, this curve has three arbitrary constants, which correspond basically to the upper asymptote, the time origin, and the time unit or rate constant. In this curve, the degree of skewness, as measured by the relation of the ordinate at the point of inflection to the distance between asymptote is set.
III. OBJECTIVES OF THE STUDY
The central aim of this research work focused on various Mathematical and Stochastic aspects of growth curves.
The main objectives of the present study are:
To develop few new growth curves by using logistic growth models.
To describe the modeling of Stochastic Growth by using Mathematical and Stochastic aspects.
IV. TOOLS AND METHOD
A. Growth Curves And Their Applications
A number of procedures have been developed to facilitate the scholars to analyze and quantify and quantify the change. Most important analytic strategies to get the ordinal data include growth curve modes and autoregressive modes. The choice of the model for the study depends on the nature of the study and research question. One of the most important assumptions in growth curve technique is that change is scientifically related to the passage of time, at least across the time range in question. This type of data is referred to be 'balanced on-time' by (burchinl & appel bauro) ware (1985). Evaluating to what extent a particular growth mode is capable of exhibiting the observed pattern of change with respect to time appears to be an important aspect of the growth model testing.
The experience curve, often known as the 'J' curve, is a model of population expansion that occurs when there is no limit to population size. In this situation, the logistic curve, commonly known as the 'S' curve, is used to describe the impacts of limiting and carrying factors in the environment.
In statistics, growth curves are used to determine the type of growth pattern of a quantity, whether linear or cubic. A business can construct a mathematical model to anticipate future sales once the growth type has been defined. (Population overtone is an example of a country's growth curve.)
Exponential Curve:When the growth rate of a mathematical function value is proportionate to the current function value, the growth is described as an exponential function for the time being. When the growth rate is negative, exponential decay occurs in the same way; this is known as geometric growth or geometric decay. The ratio of the growth rate, the function values form a geometric progress, in either exponential growth of a variable x at the growth rate ‘r’, as time ‘t’ goes on discrete internals, is
V. RESULTS AND DISCUSSIONS
A. Specification Of A Newly Modified Exponential Growth Model
Consider an organism like homosapiens or bacteria in a culture flask with overlapping generations and continual breeding. All ages are displayed at the same time, and the population size fluctuates gradually in small increments as individuals are born and die at any given period. The use of a differential equation to explain this continuous population growth with immediate rates determined across relatively short time intervals is useful.
If N= population size
b= instantaneous birth rate per female
d= instantaneous death rate per female
then population growth is given as
The different mathematical and Stochastic growth models are developed in the literature and successfully applied to analyse the time series data concerning to a large number of situations in the actual worlds. The central aim of the modeling of growth is to envisage the future development of the situation Stochastic growth model of economy may be applied to predict the future trends and it provides a basis of policy decision.
In the current research work, an effort has been made to develop the models to depict the mathematical and Stochastic aspects of growth and draw from some new Stochastic growth models by using logistic and Exponential growth models.
First, a Logistic growth model has been specified as a number of family of generalized linear models. The concepts of odds ratio and model Deviance is defined and a method is described to estimate the odds ratio. The maximum method of estimation is discussed to estimate the parameters of the multiple logistic growth model. The validity of the integrity of fit of the logistic growth model is tested by using the model deviance.
Secondly, an Exponential Growth model is specified by using the poisson probability model for count data. Identity link function and log link function are measured under the maximum likelihood estimation of parameters of Exponential Growth model.
 Ananda, M.M., Dalpatadu, R.J. and singh A.K.(1996), “Adaptive Bayes Estimators of the Gompertz survival model” Applied Mathematics and computation, Vol. 75, Issue 2, 167-177.
 Bai, D.S., Chung, S.W. and Chun Y.R. (1993), “Optimal Deign of partially Accelerated Life Tests for the Exponential Distribution under Type-I Censoring”. IEEE Trans. On Reliability vol. 41 (3), 400-406.
 Berkson , J.(1953). A Statistically Precise And Relatively Simple Method Of Estimating The Bio-Assay And Quantal Response, Based On The Logistic Function, Journal Of The American Statistical Association 48,565-599.
 Burnham, K.P. & Anderson, D.R. 1998 Model selection and inference .A practical information – Theoretic approach .New York . Springer .
 C.P.Winsor(1932). “The Gompertz Curve as a Growth Curve”. Proceedings of the National Academy of Science.
 Duncan, T.E “An Introduction to latent growth curve modeling”, Behavior Therapy,200421.
 Jaheen, Z.F. (2003). “Bayesian Prediction under a mixture of Two-component Gompertz Lifetime Model” Sociedad Espanola de Estadistica e Investigation Operative Test, vol. 12, No. 2, 413-46.
 Kerds, C. J 2002 Two Complementary Paradigms for analyzing population dynamics . Phil. Trans. R. Soc. Land. B 357, 1211-1219. (DOI 10. 1098/rstb. 2002. 1122)
 Korpimaki, E. & Norrdahi, K. 1989 Prediction of Tengmalm’s owls: numerical responses, function responses and dampening impact on population fluctuation of microtines. Oikos 54, 154-164.
 Thomas Koppe, Daris R. Swindler, Sung Hee Lee.(1999) “A Longitudinal Study of the Growth Pattern of the Maxillary Sinus in the Pig-Tailed Macaque(Macaca nemestrina)”, Folia Primatologica.
 Nelson, W. (1990) .”Accelerated Life Testing: Statistical models, Data analysis and Test plans”, John Wiley and sons, New York.