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.
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.