A power series is a series of the form Σan(x-x0)n where x0 and an are numbers. A power series converges for x=c if the limit of the partial sums exists and is finite. The radius of convergence of a power series can be found using the ratio test, and determines the values of x for which the power series converges. Basic operations like addition, multiplication, differentiation, and index shifts can be performed on power series term-by-term.