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Sigma notation, often referred to as summation notation, can be used in many common situations. For example, it can be used to calculate the sum of deposits for a bank account. Banks add together all deposits and withdrawals to determine the current balance.
A series is the sum you get when you add all of the terms of a sequence. When writing a series, a shorthand notation is used to represent the sum of a number of terms having a common form. This shorthand notation is referred to as summation notation or sigma notation.