Solving Equations
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Lesson Summary:
In this lesson, the concept of solving equations is explored within the context of a business situation. The focus is on understanding the relationship between input and output in a function, and how to evaluate or solve for either of these depending on the given problem. The lesson also delves into finding relevant relationships, such as the demand and revenue functions, and using these to answer questions about pricing and revenue. The use of a linear equation as a quick and dirty estimation method for revenue is also demonstrated.
Lesson Description:
Understand how equations arise from functions. Understand what it means to SOLVE an equation in terms of an input prediction given an output.
Check out www.themathdude.org for more videos.
Additional Resources:
- Problem Set - A problem set from this lesson.
- Notes - Notes from this lesson.
Questions answered by this video:
- How do you solve an equation for the input given an output?
- If you are given an input, how do you find the output of a function?
- How do you find the optimal price to maximize revenue for a product?
- How do you do a linear regression between two points on a TI graphing calculator?
- Where is the maximum revenue located on a quadratic curve?
- How do you find the vertex of a parabola from the function?
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Staff Review
You will learn in this lesson how to solve an equation for an input given an output and vice versa. The real-world function used in this lesson discusses price of a product and revenue generated, which depends on price. The notes and problem set are a big help in learning this topic.
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