Modeling relationships
In this lesson, we learn how to determine if a relationship can be modeled algebraically, using six criteria. Relationships are everywhere, and many can be understood intuitively. However, when it comes to making quantitative decisions in business or modeling complex relationships, mathematical models are necessary. We are introduced to different types of mathematical functions, such as linear, exponential, quadratic, and logistic functions, and learn to recognize them in data. Ultimately, this lesson emphasizes the importance of understanding relationships and using mathematical models to make informed decisions.
Determine if a relationship is functional and could be represented / modeled by a mathematical Function using several criteria.
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- What is a Credit Score - Learn about what a credit score is from Wikipedia
- Notes - Notes from the lesson.
- Problem Set - A problem set for the lesson.
- Problem Set Solutions - Solutions to the problem set for this lesson.
- What is Fuzzy Logic - Learn about fuzzy logic
- Delinquency Rate - Learn what the term delinquency rate means
- List of Model Functions - List of Model Functions and definitions that should be able to recognize and use to fit relationship data.
- What real-world relationships can be modeled with functions?
- How do you know when you can model a relationship with a function?
- How do you model a relationship with a mathematical function?
- Is there a mathematical relationship between when you leave in the morning for class and whether you arrive to class on time?
- What is the input and the output for a real-world function?
- What is a parameter in a real-world situation to be modeled?
- How can a mathematical model be useful to make business decisions in real-world contexts?
- How can you make a functional algebraic model?
- What are the six properties for determining whether a relationship can be modeled with a functional algebraic model?
- What is fuzzy logic?
- What is a delinquency rate?
- What are the different types of algebraic models that you can use to model a relationship, and how do you know which to use given a graph of data?
- How can you fit a curve to data using a TI graphing calculator?
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Staff Review
This lesson and its resources are a good solid explanation of analyzing real-world situations and determining whether they can be modeled using a mathematical function. Several different real-world situations are discussed and analyzed in this video as well as the websites and documents that accompany this video.
