Mathematical modeling

A mathematical model

A representation of a system or scenario that is used to gain qualitative and/or quantitative understanding of some real-world problems and to predict future behaviour

Important components in mathematical modeling

Assumptions in mathematical modeling

Usually start with the simplest variable then consider the more complex ones

A variable

A quantity with an unknown value

Verifying and interpreting solutions

Consideration of some questions about the solution of the chosen problem

Simple interest

A reward given to the depositor at a certain rate on the principal amount for a certain period of time

The formula calculates simple interest

I is the interest, P is the principal, r is the interest rate and t is the time in years

Linear function

A graph resembles a straight line

Quadratic function

A curved graph in the form of a parabola, the curve may rise and then fall or fall and then rise

Exponential function

A curved graph illustrating an increase or decrease in values of data at a sharp rate

Mathematics

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Mathematical modeling

Mathematical modeling