Question

How can equations and inequalities help a business maximize profit or minimize costs?
What is the importance of understanding how to set up and solve equations and inequalities?
Discuss in general without a mathematical example.

Answer 1

Part 1/
Do u remember in quadratics, we used to have equations with variables of power 2.
In those we used to have vertexes. With the help of those we can find the max/min values in the business.

Answer 2

i can't really make-up the answer for part 2. :/

Answer 3

Ok for part 1 are you asking me a question ?

Answer 4

Not really. i am giving u an idea what you can write in part 1. you may rephrase it. :)

Answer 5

For part 2 could you just state on how to solve equations and inequalities

Answer 6

The equations are solved the same as we solve quadratic equations.
Like,

x^2 - 2x + 1 = 0

x^2 - 2x + 1 > 0

The first one is equation while the other one is in-eq.

Answer 7

Oh ok thanks.

Answer 8

np

Answer 9

Inequalities are used when we need a range of values.or when we dont need a specific value. For example, if you need to set up traffic signal timings. You can estimate that A number of cars are passes every second, or else u can say that A number of cars are in between these two numericals and things like that.

Answer 10

@kira3 , are u here?

Answer 11

Yes im here im just not understanding where you are coming from could you explain How can equations and inequalities help a business maximize profit or minimize costs?

Answer 12

Equations are clearly one of the most useful mathematical tools we could have invented because not only do they help us formalize behaviors and patterns, but they also help us analyze them to very profound extents.

Applied mathematics is all about modeling: Our equations do not explain how the world works, but they do predict that fairly well. Take, for example, a simple algebraic expression of the form \(f(x)=mx+b\). This simple equation can be used to model how much money an employee can make by the hour, thus allowing companies to make good predictions as to how many people to hire, etc. Similarly, you could take it, turn it into an inequality, put it in a system, and use that system to model payment caps on employees or even production of goods.

When equations go non-linear, this is where the real fun begins because calculus becomes of the essence: Suppose that a company sells boxes that have to be also painted. If it were not for the invention of calculus, we would not be able to find the most effective size of a box such that we spend the least amount of money painting it, and thus saving us tons of money in the very long run. The same applies to can production, cars, and even the *cough* simple *cough* act of putting rockets on the moon, and determining the motion of the planets.

Overall, equations serve as a solid foundation for the understanding of higher-level concepts and ideas whilst hiding all the technicalities behind an austere set of beautiful mathematical symbols. :)

Answer 13

that's huge^

Answer 14

Yes thats what i need thank you so much @across for the way you explained it