mathematical modeling is a process where a real world problem or situation is de

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mathematical modeling is a process where a real world problem or situation is described in mathematical language research a real world problem situation phenomenon or event that you can be modeled using a linear equation or in equation post the mathematical model d scribing your application if avaluble workpláe-related, and other types of relationships. How can you relate the definition of a function and/or relation to a real world functional or a dysfunctional relationship? You must start a thread before you can read and reply to other threads Discussion 1B Must post first. Mathematical modeling is a process whereby a real world problem or situation is described in mathematical language. Research and share a real world problem, situation, phenomenon, or event that can be modeled using a linear equation or inequality. Post the mathematical model describing your application if available. You must start a thread before you can read and reply to other threads

Explanation / Answer

Discussion 1B

One of the concern of any company to set the correct price of their product.

Obviously if they decrease the price, the sales are likely to go up,and if they increase the price, the sales are likely to go down. (Except some cases like Apple products etc.)

So they need to relate the sales and price to make an informed decision, for this purpose using the historical data an equation is prepared depicting the relation of sales and price.

sales = a + b*price

where a and b are constant.

b in most of the cases is negative.

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